Ashurst advises Silicon Valley Bank on financing the acquisition of xSuite by 3i

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    Ashurst advised Silicon Valley Bank as lender on the financing of the acquisition of xSuite Holding GmbH (xSuite), a leading provider of software applications in the field of accounts payable invoice automation, by the international investor 3i Group plc (3i). 3i invests alongside the previous owners, funds advised by Pinova Capital GmbH and the management team, who are reinvesting in the business as minority shareholders.

    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, Frankfurt). Partner Dr Anders Kraft (Tax, Frankfurt) advised on tax law. US law advice was provided by partner Michael Neary and senior associate Misha Daha (both Global Loans, New York).