Private Equity investor capiton acquires the international Axxence Group
With a team led by Dr. Martin Imhof, Partner at the Düsseldorf office, Heuking Kühn Lüer Wojtek advised the founder and owner in the sale of Axxence Group to a private equity fund managed by capiton and the company’s management.
Headquartered in Emmerich, Germany, Axxence Group is a manufacturer and supplier of natural aroma ingredients for the global flavour & fragrance ("F&F") industry. Today, Axxence employs around 120 employees in four countries and produces over 260 natural aroma chemicals, which Axxence sells in over 35 countries to more than 240 customers including the world's largest F&F companies.
Axxence was founded in 1986 with a pure trading entity. Through the years, its founder developed the Group very successfully into an international full scope manufacturer of natural aroma chemicals. Today, Axxence produces a wide range of natural ingredients for flavour and fragrance compounds in Slovakia, which are used in the food & beverage as well as in the cosmetic & personal care industries. The R&D, sales and logistics are based in Emmerich. Further sales offices and warehousing are in France, USA and Japan.
As part of the Founder’s succession planning, Axxence’s long standing management along with the PE fund capiton VI and a co-investment vehicle managed by capiton, acquired the Axxence Group with the conviction to continue the growth story its founder has started 35 years ago. In this process, synergies with further companies from the capiton portfolio and new partners will be used.
An international team led by Düsseldorf-based Heuking Corporate/M&A Partner Dr. Martin Imhof advised the founder’s selling Dutch holding company on all legal matters and supported the transaction in all of its phases. In particular, Heuking advised Axxence on the M&A and transaction related aspects, including the financing of the transaction. The Heuking team led by Partner Imhof collaborated in Slovakia with Čechová & Partners, in France with Jeantet and in the Netherlands with Ekelmans & Meijer Advocaten. RSM Germany led the seller's commercial and tax transaction advisory services.
Counsel to the Axxence Group
Heuking Kühn Lüer Wojtek:
Dr. Martin Imhof (overall lead, Corporate/M&A)
Sebastian Pollmeier (Corporate/M&A)
Dr. Guido Hoffmann, LL.M. (Finance)
Matthias Bosbach (Finance)
Christoph Hexel (Employment)
Beatrice Stange, LL.M. (Antitrust Law)
Astrid Luedtke (Data Protection)
Philipp Schröler (Patent law), all Düsseldorf
Čechová & Partners:
Lenka Šubeníková (Corporate/M&A, lead)
Anne Toupenay-Schueller (Corporate/M&A, Lead)
Ekelmans & Meijer Advocaten:
Eckhard Mehring (Corporate/M&A)
Transaction Advice, Tax:
RSM (Dr. Karsten Ley, Christian Weyers, both Düsseldorf)