GvW advises Capiton on the acquisition of Cedes AG
A fund managed by capiton AG has acquired 100% of the shares in Cedes AG, a leading manufacturer of sensor technology in the elevator and door industry based in Landquart (Switzerland). The company’s products, which utilize infrared and image processing technology, provide solutions for the automation of elevators, escalators, and entrances. With around 400 employees worldwide at locations in Switzerland, Japan, the USA, Singapore and China, the business generated sales of around CHF 55 million in 2019.
Capiton acquires Cedes from Assa Abloy, a Swedish group of companies operating worldwide in the field of entrance technology with sales of over EUR 7 billion. The transaction will be financed by the capiton VI fund and co-investors investing alongside capiton. The parties have agreed not to disclose the purchase price. The transaction is still subject to approval by the competition authorities.
BMH Bräutigam acted as the lead legal counsel on the buyer side. GvW Graf von Westphalen advised capiton from its office in Shanghai on the Chinese legal aspects of the acquisition. The GvW team led by Dr Dominic Köstner (Local Partner, lead partner) and Managing Partner Patrick Heid included associates Zheng Ye, Kerui Li, Mengyuan Gong and Jiaying Luo (all Corporate/M&A, Shanghai).
The German and Chinese lawyers of GvW just recently advised capiton in China in connection with the sale of the Trioptics Group. Since 2008, GvW regularly advises European and US companies in their M&A activities and business relations in China from its own office in Shanghai. In addition, the firm's China practice offers Chinese companies comprehensive advice on investments and business relationships in the German and European market.
News
Federal Administrative Court: Fehmarn Belt Fixed Link may be built
The Federal Administrative Court has dismissed all six pending appeals against the planning decision on the Fehmarn Belt Fixed Link. Construction of the tunnel may therefore now also begin in Germany. GvW advised the State of Schleswig-Holstein and was represented by a Hamburg team consisting of Dr Ronald Steiling (lead), Corinna Lindau, Dr Dietrich Drömann, Prof. Dr Christian Winterhoff, Dr Andreas Wolowski, Saskia Soravia, Dr Stefanie Ramsauer, Dr Annika Bleier, Felix Kazimierski and Niclas Langhans. (BVerwG 9 A 6.19, 9 A 7.19, 9 A 9.19, 9 A 10.19, 9 A 11.19, 9 A 12.19 and 9 A 13.19).
H4 Hotel Mönchengladbach at BORUSSIA-PARK: the place for that Bundesliga feeling
Football is king at H-Hotel Group’s new H4 Hotel in Mönchengladbach. Its location right next to the stadium and the theme rooms depicting the history of the Borussia Dortmund football club make this new hotel unique and a must for any football enthusiast. Our lawyers had the pleasure of advising H-Hotels Group on the creation of its first football-themed hotel and took the chance to visit this amazing place shortly after its opening.
Transport System Bögl: new local public passenger transport system a big success in China
The Max Bögl group of companies has developed a new local public passenger transport system. The system called “Transport System Bögl” (TSB) uses magnetic levitation, or “maglev” technology and provides a clean and cost-efficient means of transport for better mobility in inner city areas. The technology is becoming increasingly popular also in other countries: Max Bögl’s most recent export order was the sale of its TSB to China. The company’s plans include building a 3.5 km test track in Chengdu and extensive marketing activities to promote the technology in China – all through a sales partnership with a Chinese company.
Our Services
You don't want to miss any more of the latest legal developments? And be invited to our events? Then register here.