A team led by Dr. Pär Johansson of Heuking Kühn Lüer Wojtek’s Cologne office advised Odewald KMU II, a German private equity firm specializing in the SME sector, on the acquisition of Karl Schmidt group, based in Preußisch Oldendorf.
Karl Schmidt GmbH operates a fourth-generation branch bakery. Employing more than 400 in over 50 branches, the family-owned business is a regional market leader in the north-east of North-Rhine Westphalia. Its managing majority shareholder acquired a stake in the company as part of the transaction and will continue to manage the group.
Odewald KMU II fund has a volume of EUR 200 million and invests in attractive target markets in German-speaking SMEs. The industry focus is on profitable, fast-growing medium-sized companies in “German engineering,” intelligent services, and the health sector. Typical investments are made in cases of succession arrangements and/or growth financing. These companies typically generate sales of between EUR 20 and 100 million, have an entrepreneurially oriented management, are highly successful in their operations and occupy a market-leading position in the relevant market. Equity investments per transaction are between EUR 5 million and EUR 30 million.
Following the acquisition of Betten Duscher group in the summer of 2016, the acquisition of Karl Schmidt group will be the second investment of the newly issued second SME fund by Odewald, on which Dr. Pär Johansson and his team advised Odewald KMU. The Cologne-based M&A team works with Odewald KMU on a regular basis and already advised it on all transactions of the first fund.
Counsel to Odewald KMU:
Heuking Kühn Lüer Wojtek
Dr. Pär Johansson,
Kristina Schneider, LL.M. (both M&A),
Dr. Sascha Schewiola (Employment),
Dr. Verena Hoene, LL.M. (IP), all Cologne