GLNS advises LMP PARTNERS on recapitalisation and buy-and-build financ-ing through Apera Asset Management

The Munich-based IT investor LMP PARTNERS has acquired the Berlin-based IT solution provider PKN. With this acquisition, LMP PARTNERS is further expanding its service portfolio of customised IT solutions, in particular in the areas of data centre services, cloud services and cyber security.

Following the acquisition of Amalphi GmbH last year, the acquisition of PKN group is LMP PARTNERS' second add-on acquisition in this sector as a complement to its existing investment in Weiss IT Solutions GmbH. LMP PARTNERS pursues a buy-and-build strategy in the B2B IT service sector and plans further add-on acquisitions this year. PKN is a recognised service provider for customised solutions around the digital transformation in medium-sized companies.

In connection with the transaction, LMP PARTNERS has secured a unitranche financing for the recapitalisation of the B2B IT Service Group and to finance the acquisition of PKN group. The financing supports the buy-and-build strategy and is also available for funding further acquisitions in the B2B IT services sector. The financing is provided by funds advised by Apera Asset Management.

GLNS advised LMP PARTNERS comprehensively on the financing by partner Anselm Lenhard. Apera Asset Management was advised by Latham & Watkins. Poellath supported LMP PARTNERS on the M&A part of the overall transaction.

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