P+P advised Brockhaus Private Equity on complete sale of 360T to Deutsche Börse

P+P assisted the Brockhaus Private Equity II fund on the sale of the participation it held until recently in 360 Treasury Systems AG (360T) – a leading provider of web-based trading technology for trading financial instruments outside of the stock market, primarily for currency trading – to Deutsche Börse AG.

The closing is subject to regulatory approvals.

P+P advised Brockhaus Private Equity II in 2009 on its participation in 360T and also assisted the private equity investor on the participation of Summit Partners in 2012, as Brockhaus Private Equity reduced its participation in 360T from 24% to 10.7%.

The shares still held by Brockhaus Private Equity II, as well as all shares belonging to the other shareholders, including Summit Partners, 360T founder Carlo Kölzer and other members of the 360T management team, will all be transferred to Deutsche Börse AG. The transaction is based on a company valuation for 360T in the amount of EUR 725m, whereby this sale is one the largest private equity deals of 2015.

P+P Pöllath + Partners regularly advises Brockhaus Private Equity; the following interdisciplinary team worked together on this transaction:
 

• Philipp von Braunschweig (lead, partner, PE/M&A, Munich)
• Alexander Pupeter (partner, tax, Munich)
• Amos Veith (partner, fund structuring, Berlin)
• Tobias Jäger (counsel, PE/M&A, Munich)