Mayer Brown advised Spindel- und Lagerungstechnik Fraureuth GmbH ("SLF"), a portfolio company of Avedon Capital Partners ("Avedon"), on the acquisition of STI GmbH (“STI”) by way of an asset deal. The parties have agreed not to disclose the purchase price or further details. In addition to the legal advice on the acquisition, Mayer Brown also advised SLF in relation to the financing of the transaction.
Founded in 1995, STI GmbH is a specialized engineering trading company based in Wackersdorf, Germany, with today 21 employees. STI combines strong engineering competence to develop customized products and components with a strong worldwide sourcing network and is thus able to provide its customers with specialized products and solution development at attractive conditions.
SLF is a leading niche manufacturer of specialized spindles and roller bearings located in Fraureuth, Germany, with today around 300 employees. The acquisition will enable SLF to further expand the group’s range of customized engineered products and solutions, and strengthen its worldwide sourcing network. The expansion will help to improve the group’s competitive positioning in attractive end-markets, grow the OEM customer base and increase its international presence.
Avedon Capital Partners is a leading private equity fund manager in Germany focused on high-growth, medium-sized companies in Germany and the Benelux countries. Avedon manages assets worth more than EUR 500 million. Mayer Brown has successfully advised Avedon for several years, most recently on the acquisition of the Hauck Group and the acquisition of SLF in January 2019.
The Mayer Brown team led by Dr. Joachim Modlich and Dr. Jan Streer (both Corporate & Securities, Düsseldorf) included: Corporate & Securities – associate Dr. Stefan Glasmacher (Düsseldorf), Banking & Finance – partner Dr. Martin Heuber, associate Juliane Thon (both Frankfurt), Tax Transactions & Consulting – partner Volker Junge (Frankfurt), Employment & Benefits – counsel Vanessa Klesy (Frankfurt) and Intellectual Property – associate Maximilian Kücking (Düsseldorf).