Private equity investors Advent International and Bain Capital have acquired all shares in the leading German payment solutions provider Concardis GmbH headquartered in Eschborn/Frankfurt. Sellers are numerous representatives of the German banking sector, amongst others Deutsche Bank, Commerzbank, DZ Bank and the German Savings Bank Association (DSGV). Closing of the transaction is subject to the approval of the supervisory authorities.
A GvW team headed by Lead Partner Dr Markus Rasner advised Concardis on all legal aspects of the transaction.
As a full-service payment solutions provider, Concardis ensures the payment of retail customers via Visa and Mastercard credit cards and the German debit card Girocard. Originally focused on connecting retailers to credit card systems, the company has expanded its suite of services across the payments value chain, strengthening its capabilities in e-commerce, omnichannel payments and value-added services for its customers. In 2016, Concardis managed approximately 360 m transactions with a total turnover of 42 bn Euro.
GvW Team: Dr Markus Rasner, Lead Partner, Till Liebau, Partner (both M&A / Corporate, Frankfurt a.M.); Dr Werner Schnappauf, Partner (Public Commercial Law, Berlin); Anja Dombrowsky, Partner (Employment, Frankfurt a.M.); Dr Carsten Bittner, Partner (Antitrust and Competition, Hamburg); Christian Kusulis, Partner (Antitrust, Frankfurt a.M.); Dr Raimond Emde, Partner; Dr Daniel Valdini, Senior Associate (both Commercial, Hamburg); Dr Gerd Schwendinger, Partner (International Trade, Hamburg)
GvW Graf von Westphalen advised the transmission system operator 50Hertz on the award of a major contract for the North Sea Connector 2 offshore grid connection project. The project involves the planning, construction, installation and commissioning of a converter system comprising an offshore converter platform in the North Sea and an onshore converter station in Mecklenburg-Western Pomerania. The North Sea Connector 2 project is intended to connect offshore wind farms in the North Sea to the German electricity grid in future.
GvW Graf von Westphalen has advised Primepulse and Vsquared Ventures on the Series C financing round of NEURA Robotics GmbH. The transaction ranks among the largest venture financing rounds in the European startup ecosystem to date.
GvW Graf von Westphalen has advised Ethereal Space, Inc., a pioneering commercial space company, on space and satellite law matters and the establishment of its affiliate Ethereal Space GmbH.
You don't want to miss any more of the latest legal developments? And be invited to our events? Then register here.
