P+P advised the management of Lautsprecher Teufel GmbH on sale to Naxicap Partners

The financial investor Hg has sold Lautsprecher Teufel GmbH in Berlin to Naxicap Partners, a subsidiary of Natixis Investment Managers. P+P advised the management of Lautsprecher Teufel GmbH in the context of this transaction.

Teufel is one of the largest German manufacturers and leading European suppliers of high-end audio equipment in direct sales. The company provides an extensive portfolio, including home theater systems, TV sound systems, multimedia systems, classic hi-fi, headphones, Bluetooth and multi-room speakers. In 2017, the company realized a turnover of more than EUR 100 million with approximately 200 employees.

Naxicap Partners is a private equity investment firm based in France. Naxicap currently manages a portfolio of investments with a value of approximately EUR 3 billion and specializes in mid-sized companies with growth potential. In the future, Naxicap will work with Teufel's existing management team to continue to strengthen the market position of the brand and ensure further expansion of the company.

P+P Pöllath + Partners advised the management of Teufel on the legal aspects of the transaction and the management participation program with the following Munich-based team:

• Dr. Benedikt Hohaus (partner, M&A/private equity, management participation)
• Dr. Roman Stenzel (counsel, M&A/private equity, management participation)