Digital workstation: GvW Graf von Westphalen advises Morgan Stanley on its exit from DocuWare

On July 2, 2019, Ricoh Company, Ltd. (Tokyo, Japan) announced a definitive agreement to acquire DocuWare, a leading provider of Content Services software. In this transaction, GvW Graf von Westphalen advises one of the selling shareholders, Morgan Stanley Expansion Capital, on the sale of its participation in DocuWare. Closing of the transaction is still subject to clearance by the relevant competition authorities in Germany and Austria and completion of other customary closing conditions.

DocuWare office automation solutions deliver smart digital workflow and document control, and powerful cloud services enable digitizing, automating and transforming key processes. DocuWare operates in 90 countries with headquarters in Germany and the U.S.

For more than 80 years, Ricoh has been driving innovation and is a leading provider of document management solutions, IT services, commercial and industrial printing, digital cameras, and industrial systems. Headquartered in Tokyo, Ricoh Group operates in approximately 200 countries and regions, the company achieved worldwide sales of 2,013 billion yen (approx. 18.1 billion USD) in the financial year ended March 2019.

Morgan Stanley Expansion Capital, based in San Francisco, California, is a private equity platform targeting late-stage growth investments in technology, health care, consumer, digital media and other high-growth sectors. Morgan Stanley Expansion Capital predominantly invests in North America and Western Europe.

The GvW team advising Morgan Stanley Expansion Capital on this transaction consists of Titus Walek (Partner, M&A) and Zehnah Sino (Associate, M&A). Titus Walek also advised Morgan Stanley in connection with its investment in DocuWare back in 2012.


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