HEUKING advises FairCap on the acquisition of InterNations GmbH from New Work SE
A HEUKING team led by Stuttgart partner Benedikt Raisch provided legal advice to FairCap on its acquisition of InterNations GmbH from New Work SE. The seller has been a wholly owned subsidiary of Burda Digital SE since June 2025.
With this acquisition, FairCap is making its first investment in the TMT sector (Technology, Media & Telecommunications). The transaction also underscores the private equity firm's particular expertise in corporate carve-outs, which FairCap consistently combines with an active sustainability approach. Under new ownership, InterNations plans to further expand its digital platform, strengthen its international community, and specifically advance the interplay between online offerings and in-person events.
InterNations was founded in 2007 in Munich as an independent start-up and was later acquired by Xing SE — now New Work SE. Since then, the company has grown into the world's largest community and information platform for people living and working abroad. Today, InterNations connects more than 5.6 million members from over 200 nationalities across 420 communities around the globe, with its digital offering complemented by more than 3,000 in-person events per month.
Founded in 2020, FairCap is a European private equity firm headquartered in Munich with additional offices in Milan and Paris. It acquires mid-sized companies undergoing periods of transition — particularly corporate carve-outs — and develops them holistically, taking financial, environmental, and social considerations into account.
New Work SE (formerly XING SE) operates a digital jobs network and an employer review platform in the German-speaking market under the XING and kununu brands. In June 2025, the company was fully acquired by Burda Digital SE by way of a statutory squeeze-out.
Counsel to FairCap
HEUKING:
Benedikt Raisch (Lead, Corporate Law/M&A), Stuttgart,
Simon Pommer, LL.M. (Tax Law), Hamburg,
Jirina-Sophie van Lathaem (Corporate Law/M&A), Stuttgart
