A team led by Benedikt Raisch legally advised investment firm FairCap GmbH on the acquisition of German manufacturer S & P Federnwerk GmbH & Co. KG (S & P) from Lesjöfors, a subsidiary of Beijer Alma AB. Alongside FairCap, Tristan Becker, S & P’s current CEO, is acquiring a 20% stake in the company.
S & P is a manufacturer of technical springs with its main customers operating in the agricultural and automotive sectors. The company is based in Nisterau, Rhineland-Palatinate, and generated sales of about EUR 11 million in 2020 with some 60 employees. The company had been a member of Lesjöfors since 2013.
FairCap sees promising opportunities in S & P’s development as a specialized supplier of technical springs and will support management in the carve-out transition period and in achieving its long-term growth plans.
FairCap GmbH is an entrepreneurial investment company that acquires SMEs in turnaround situations (carve-out, turnaround, succession) and transforms them holistically into sustainable, healthy organizations. Its anchor investor and advisor is Discover Capital GmbH, which is a long-term oriented investment firm. Discover Capital GmbH advises equity funds with about 1 billion assets under management (“AuM”). In contrast to typical private equity funds, FairCap is a long-term holding company (“evergreen structure”), which is not subject to a fund term and can hold investments over the long term.
Beijer Alma AB is an international industrial group that focuses on component production and industrial supplies. The group includes Lesjöfors, one of Europe’s largest spring manufacturers, Habia Cable, one of Europe’s largest producers of custom-designed cables, and Beijer Tech, with strong positions in industrial supplies and production in Scandinavia.
Last year, Heuking had already advised on the establishment of FairCap GmbH.
Counsel to FairCap GmbH
Heuking Kühn Lüer Wojtek:
Benedikt Raisch (Lead, Corporate/M&A),
Dr. Rainer Herschlein, LL.M. (Fordham University)
Charlotte Schmitt, LL.M. (both Corporate/M&A), all Stuttgart