GLNS has comprehensively advised smava on the acquisition of 100% of the shares in FFG FINANZCHECK GmbH (Finanzcheck). The seller is Speedster Bidco GmbH, a company controlled by Hellman & Friedman, which had acquired AutoScout24 in 2020.
The acquisition creates the leading platform in Germany specialized in consumer loans. In total, both companies have brokered a credit volume of well over EUR 4 billion between consumers and banks in 2020. Of this, smava has accounted for around 65 percent.
The transaction is financed by current investors in smava, including Earlybird Venture Capital, Kreos Capital, Runa Capital, Verdane Capital and Vitruvian Partners, as well as the new investor Proventus Capital Partners. As part of the transaction, Speedster Bidco GmbH, a company controlled by Hellman & Friedman, will become a minority shareholder in smava.
GLNS provided comprehensive legal advice to smava in this complex transaction (including equity financing, debt financing and re-investment) through partners Georg Lindner (lead), Dr. Reinhard Ege (both Corporate/M&A/Tax), Dr. Daniel Epe (Corporate/M&A) and Dr. Anselm Lenhard (Financing) as well as Counsels Dr. Veronika Montes (Corporate/M&A), Ferdinand von Spreti (Corporate/M&A) and Associate Sebastian Lahner (Corporate/M&A).
GLNS has involved the following law firms in special areas of expertise:
• IP/IT: Ampersand (Dr Thomas Schafft)
• Employment: Staudacher Annuß (Ingo Sappa, Aurel Staller).
• Anti-trust: Buntscheck (Dr. Andreas Boos)
• Real Estate: Sixtus & Partner (Christopher Sixtus)
• Regulatory: Annerton (Dr. Anna Izzo-Wagner, Alireza Siadat, Till Christopher Otto).
• Tax and Finance DD: EY