Odewald KMU acquires Betten Duscher GmbH in Roding

As part of a succession plan, German private equity investor Odewald KMU has taken over a majority stake in Betten Duscher GmbH from its shareholders. Betten Duscher, with headquarters in the East-Bavarian town of Roding, is one of the leading German manufacturers of bedding and home textiles, as well as decoration products. The shareholders who are selling their shares remain associated with the company on a long-term basis through a management participation program and a significant reinvestment.

The transaction was financed by way of a comprehensive financing package, including acquisition loans and a revolving line of working capital by a bank syndicate consisting of BHF-BANK AG, Bremer Kreditbank AG and DZ BANK AG.

This is the first investment of the new Odewald KMU II Fund. Odewald KMU invests in medium-sized, established companies with strong growth in German-speaking countries. Odewald KMU's investors are mainly German institutional asset management companies and wealthy private investors.

P+P Pöllath + Partners has already advised the Odewald KMU Fund I regularly on its investments. P+P provided tax advice to Odewald KMU on this transaction with the following team:

• Alexander Pupeter (partner, M&A/private equity, tax, Munich)
• Svetlana Heil (associate, M&A/private equity, tax, Munich).

Other lawyers involved were Pär Johansson, Christoph Schork and Kristina Schneider of Heuking Kühn Luer Wojtek (legal, Cologne).