HEUKING advises HHS on DATAGROUP transaction with KKR – offer acceptance period for shareholders begins

A HEUKING team led by Dr. Rainer Herschlein and Benedikt Raisch advised HHS Beteiligungsgesellschaft mbH (HHS) on legal and tax matters in connection with the intended acquisition of DATAGROUP SE by Dante Beteiligungen SE, a holding company controlled by investment funds, vehicles, and accounts advised and managed by Kohlberg Kravis Roberts & Co. L.P. and its affiliates (KKR). 

DATAGROUP founder Hans-Hermann (Max) Schaber and his family investment vehicle HHS have entered into a strategic partnership with KKR and signed an agreement under which HHS will indirectly transfer its existing 54.4% stake in the registered share capital of DATAGROUP SE to Dante Beteiligungen SE. The transfer will occur outside the public purchase offer and will result in long-term joint control of Dante Beteiligungen SE by Dante Lux HoldCo S.à r.l. and HHS as indirect 50:50 shareholders after settlement.

Another HEUKING team, led by Dr. Thorsten Kuthe, advised DATAGROUP SE, particularly on entering into the corresponding investor agreement and on concluding the public takeover offer. Since Friday, May 9, 2025, DATAGROUP SE shareholders have had the opportunity to accept the offer and tender their shares at a cash price of EUR 54.00 per DATAGROUP SE share. The offer represents a premium of roughly 33% over DATAGROUP’s XETRA closing share price as of April 15, 2025. The acceptance period runs until June 6, 2025, at midnight (local time Frankfurt am Main).

HHS is a family-owned investment firm. As the Schaber family’s single family office, HHS manages a steadily growing net asset value and positions itself as an investor committed to writing dynamic success stories with mid-sized companies.

DATAGROUP is one of Germany’s leading IT service companies, employing around 3,700 professionals across its locations nationwide. The company designs, implements, and manages IT infrastructures and business applications such as SAP. As a full service provider, DATAGROUP offers its comprehensive CORBOX product, supporting medium-sized and large companies as well as public clients and their IT workplaces globally. Through its strategic “buy and turn around” and “buy and build” approaches, DATAGROUP actively drives the consolidation of the IT service market.

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds.

HHS Beteiligungsgesellschaft mbH and DATAGROUP SE are long-standing clients of Dr. Herschlein, who has supported them together with Benedikt Raisch on numerous projects in recent years.

Counsel to HHS Holding/Datagroup founder
HEUKING:
Dr. Rainer Herschlein, LL.M. (Fordham University),
Benedikt Raisch (both Lead), both Stuttgart,
Dr. Alexander Jüngst (all Corporate/ M&A), Cologne,
Fabian G. Gaffron (Tax),
Dr. Stefan Bretthauer (Antitrust), both Hamburg,
Dr. Emanuel Teichmann,
Laura Pfiz (both Corporate/ M&A), both Stuttgart

Counsel to Datagroup (Management Board & Supervisory Board)
HEUKING:
Dr. Thorsten Kuthe (Lead, Corporate/ Capital Markets),
Prof. Dr. Martin Reufels, LL.M. (King’s College London),
Dr. Sascha Schewiola (both Employment), all Cologne,
Michael Neises,
Dr. Christoph Gringel (both Capital Markets), both Frankfurt,
Dr. Philip Kempermann, LL.M. (IT), Düsseldorf,
Antje Münch, LL.M., (IP, Media & Technology/ Data Protection & Data Law), Stuttgart,
Dr. Andreas Meyer, Frankfurt,
Stefan Westerheide, LL.M. oec. (both Capital Markets), Cologne,
Dr. Markus Klinger (IP, Media & Technology/ Data Protection & Data Law), Stuttgart,
Michael Kreisler, LL.M., (Foreign Trade), Berlin,
Charlotte Schmitt, LL.M., (Corporate/ M&A), Stuttgart,
Anna Coenen (Compliance), Düsseldorf,
Meike Dresler-Lenz,
Hannah Hermann (both Capital Markets), both Cologne