Ashurst advises ODDO BHF, Kreissparkasse Biberach and Volksbank eG on the financing of a stake in TBD Technische Bau Dienstleistungen GmbH & Co. KG by DBAG Deutsche Beteiligungs AG
04 September 2023
04 September 2023
Ashurst advised a consortium of banks consisting of ODDO BHF, Kreissparkasse Biberach and Volksbank eG on the financing of a stake in TBD Technische Bau Dienstleistungen GmbH & Co. KG by DBAG Deutsche Beteiligungs AG. As part of a management buy-out (MBO), a fund advised by DBAG has taken over the majority of the shares from TBD founders Uwe Jahnke and Wilfried Eschen, thus securing the company's succession. The entrepreneurs will continue to be minority shareholders.
TBD, founded in Friedeburg in 2005, is a market-leading specialised and certified technical service provider in the field of critical infrastructure (energy, water, telecommunications). Projects such as the connection of the new LNG terminal in Wilhelmshaven, where TBD carried out the weld seam inspection as an accredited testing laboratory, underline the company's reputation and expertise. The company's technical services are crucial for the implementation of the energy transition.
DBAG has been listed on the stock exchange since 1985 and is one of the most renowned private equity companies in Germany. As an investor and fund advisor, DBAG traditionally focuses on medium-sized companies in Germany, Austria and Switzerland (DACH region), in particular on well-positioned companies with growth potential. The assets managed or advised by the DBAG Group amount to around €2.6bn.
The Ashurst team was led by partner Anne Grewlich and counsel Judit Körmöczi. They were assisted by associate Sascha Masuch and senior transaction lawyer Ardalan Zargari. Furthermore, counsel Katia Fettes and partner Fabien Debroise from the Ashurst Global Loans Team Luxembourg as well as counsel Dr Susanne Knoch from the Ashurst Tax Team Frankfurt were involved in advising the lenders.
Ashurst's German banking and finance practice advises both banks and alternative lenders, private equity investors and companies on domestic and cross-border acquisition, real estate, asset and infrastructure / project financing as well as on financial restructuring and corporate lending.