Ashurst advises LGT Private Debt on financing the acquisition of G&D Holding by Naxicap Partners

Ashurst advised funds advised by LGT Private Debt on the financing of the acquisition of G&D Holding GmbH (G&D) by fonds managed by Naxicap Partners (Naxicap). The seller was Borromin Capital Management. The parties agreed not to disclose the terms and conditions of the financing.

G&D is a leading manufacturer of digital and analogue KVM solutions (keyboard, video, mouse). Founded in 1985, the company with headquarters in Siegen has more than 100 employees in Germany and the U.S. and generated total sales of €28 million in 2019. As new majority owner, Naxicap plans to support the company's expansion into the U.S. and to help it expand into complementary business areas.

LGT Private Debt is affiliated with LGT Capital Partners and specialises in private debt investments for sponsored buy-outs of mid-market companies in Europe. Set up in 2005, the team based in Paris, London and Frankfurt has completed over 100 transactions and has approximately €2.2 billion of funds under management. LGT Capital Partners from Ireland is a leading alternative investment specialist with US$70 billion in assets under management and more than 550 institutional clients in 41 countries. 

French private equity firm Naxicap, a subsidiary of Natixis Investment Managers, focuses on leverage buyouts and growth capital in France, the Benelux and Spain in particular. The company has assets of €3.5 billion under management and 90 companies in its portfolio.

The Ashurst team was led by partner Anne Grewlich. She was assisted by counsel Sabrina Bremer, associate Emilie Veyran-Müller and transaction lawyer Ouafaa Elouariachi (all Global Loans). Counsel Martina Rothe (Corporate) advised on corporate law. Advice on tax law was provided by partner Dr Anders Kraft and senior associate Christian Sotta.