P+P advises Elvaston on the sale of its investment in SHD Group to Bregal

Berlin-based Elvaston Capital sold a part of its stake in the software company SHD AG to a fund advised by Bregal Unternehmerkapital. Elvaston acquired SHD in 2014 and will remain involved in the new structure of the company. The transaction still requires the approval of the antitrust authorities.

SHD AG, headquartered in Andernach in Rhineland-Palatinate, is a provider of industry-specific software and IT services. Founded in 1983, the company focuses on the development of software solutions for the furniture industry, focusing on retail merchandise management systems, planning systems for kitchen, bathroom and living room design for the furniture trade and furnishing industry, cross-industry storage solutions, as well as financial and HR management software.

Elvaston is an entrepreneurial company that specializes in medium-sized companies in German-speaking countries.

P+P Pöllath + Partners advised Elvaston Capital with the following team across all locations:

• Dr. Tim Kaufhold (counsel, lead, M&A/private equity, Munich)
• Dr. Eva Nase (partner, corporate law, Munich)
• Dr. Nico Fischer (partner, tax law, Munich)
• Dr. Jens Linde (counsel, finance, Frankfurt)
• Daniel Wiedmann (counsel, antitrust law, Frankfurt)
• Adalbert Makos (senior associate, M&A/private equity, Munich)
• Dr. Sebastian Seier (associate, corporate law, Munich)
• Dr. Michaela Lenk (associate, M&A/private equity, Munich)

Bregal was represented by a team led by Oliver Felsenstein (Latham & Watkins).