Ashurst advises LBBW on financing the acquisition of CONUTI by NORD Holding and refinancing of EWERK

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    Ashurst advised Landesbank Baden-Württemberg (LBBW) on the financing of the acquisition of CONUTI GmbH (CONUTI) by NORD Holding as well as on the refinancing of the portfolio company EWERK. LBBW acts as Mandated Lead Arranger, Sole Underwriter, Bookrunner and Agent in the transaction. In addition to the acquisition debt, the financing includes further facilities for future add-on acquisitions.

    CONUTI, founded in 2010, is a leading partner for the development and implementation of critical software in the utilities sector. With more than 60 employees, CONUTI operates as a Full-Service provider for all relevant topics related to the platform powercloud, with which it has maintained a strong partnership since 2016.

    EWERK is a Full-Service-IT provider for customers operating in regulated industries, such as energy, healthcare and the public sector. Founded in 1994, EWERK currently employs more than 250 people and has been part of the NORD Holding portfolio since 2020. The company covers the entire technological lifecycle: IT project consulting, software design & development and enterprise IT outsourcing. By forming the new business group, EWERK and CONUTI will combine their fields of expertise, paving the way for a successful future.

    The Ashurst team was led by partner Anne Grewlich and counsel Dr Philipp Vorbeck. They were assisted by associate Sascha Lotholz and senior transaction lawyer Petra Schott (all Global Loans). Advice on tax law aspects was provided by senior associate Dr Susanne Knoch.

    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 finance as well as on financial restructuring and corporate lending.