P+P advises ADCURAM on the sale of the Hennecke Group to Capvis Private Equity Partners AG

P+P Pöllath + Partners advised the ADCURAM Group AG on the sale of its stake in Hennecke-Gruppe ("Hennecke") to Swiss-based Capvis Private Equity Partners AG ("Capvis").

Founded in 1945, Hennecke develops, manufactures, sells and maintains high quality, modular systems and systems for the production of polyurethane (PUR) components and other reactive systems. Hennecke is headquartered in Sankt Augustin and has production sites in Germany, the US and China. With approximately 500 employees, the group has an annual turnover of over EUR 120 million.

ADCURAM is a Munich-based industry group with a focus on medium-sized companies with development potential. Eight years ago, ADCURAM acquired Hennecke by way of a carve-out from the BAYER Group and has since developed the polyurethane specialist into a globally successful mid-sized company.

Capvis is a leading private equity firm in Switzerland with a current fund volume of EUR 720 million. The investor primarily takes over majority holdings in leading medium-sized companies.

P+P advised ADCURAM with the following interdisciplinary team in all locations:

• Dr. Matthias Bruse (partner, lead, M&A/PE, Munich)
• Dr. Frank Thiäner (partner, lead, M&A/PE, Munich)
• Daniel Wiedmann (counsel, competition law, Frankfurt/Main)
• Dr. Christoph Thiermann (senior associate, M&A/PE, Munich)

P+P Pöllath + Partners has advised ADCURAM on many transactions, most recently on the sale of the investment in IMA Klessmann Group.