A Heuking team led by Private Equity partner Boris Dürr advised international financial investor The Carlyle Group (Carlyle) on its acquisition of a majority stake in Munich-based iC Consult Group GmbH. Jürgen Biermann, founder and CEO of iC Consult Group, will remain a major shareholder. Additionally, other members of iC Consult Group’s management also took a stake in the company in a management buyout. The transaction is subject to regulatory approval and is expected to close in Q1/2021.
The Heuking team conducted the legal due diligence, advised on the legal transaction structuring including the founder’s reinvestment and the management participation program, and led the negotiations on the acquisition agreement. Heuking also advised on acquisition financing.
The iC Consult Group is a leading, manufacturer-independent service provider of Identity and Access Management (IAM). iC Consult Group’s member companies – iC Consult, xdi360, IAM Worx, and Service Layers – specialize in identity and access management solutions that are used to define and manage the roles and access privileges of individual network users. With more than 300 consultants, the group offers consulting and services in this field. iC Consult operates offices in Germany, Switzerland, Austria, Spain, the UK, the USA, and China. Its customers include more than half of the DAX 30 companies.
Carlyle will leverage its network, expertise, and financial strength to support iC Consult in executing its growth strategy, which may also include acquisitions. The focus will be on expanding international business, particularly in the USA.
The Carlyle Group (NASDAQ: CG) is a global investment firm that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit, and Investment Solutions. With Carlyle $230 billion of assets under management, Carlyle employs more than 1,800 people in 30 offices across six continents. The equity for the investment in iC Consult Group is provided by Carlyle Europe Technology Partners (CETP) IV. CETP IV is a EUR 1.35 billion fund that focuses on B2B companies in the technology, media, and telecommunications sectors in Europe and the USA.
Counsel to Carlyle
Heuking Kühn Lüer Wojtek:
Boris Dürr (Private Equity, Lead),
Christian Schild, LL.M. (Corporate/M&A)
Dr. Ulrich Jork (Corporate/M&A)
Peter M. Schäffler (Tax), all Munich
Dr. Pär Johansson (Private Equity)
Tim Remmel, LL.M. (Private Equity), both Cologne
Sandra Pfister, LL.M. (Finance), Hamburg
Michael Neises (Finance), Frankfurt
Dr. Thomas Jansen (IT/Data Protection)
Astrid Wellhöner, LL.M. Eur. (Employment)
Dr. Ralf Nobis (Corporate/M&A)
Steffen Wilberg (Real Estate)
Nicole Lazar (Employment), all Munich
Dr. Bodo Dehne (Corporate/M&A)
Marcel Maybaum (IP)
Philipp Roman Schröler (IP), all Düsseldorf