Ashurst advises banks on financing the acquisition of IN tIME Express Logistik by Barclays Private Equity

Ashurst advised a consortium of banks led by NIBC Bank N.V. (NIBC) on the financing of the acquisition of logistics specialist IN tIME Express Logistik GmbH (IN tIME) by Barclays Private Equity (BPE) Deutschland from ECM Equity Capital Management (ECM). The consortium comprised NIBC, Bayern LB, HSH Nordbank and Investkredit Bank. BPE funds will hold a majority stake in the Hanover-based courier and express service provider.

The transaction is subject to standard regulatory clearances.

The Ashurst team was led by partner Dr Tom Beckerhoff. He was supported by counsel Miriam Petri, associate Michael Schuhmacher and paralegal Maja Maaß (all international finance, all Frankfurt). Tax aspects were covered by senior associate Dr Malte Strüber (Tax, Frankfurt).

IN tIME is one of the European market leaders in time-critical door-to-door and express delivery. In 2010 the company generated sales of around €100m at over 20 sites in Germany, Romania, the Czech Republic, Hungary and Sweden.