P+P advises EQT on the sale of CBR to management participation
With its brands Street One and Cecil, CBR Fashion Group is one of the five largest women's fashion manufacturers in Germany. The Group employs over 1,200 people and supplies more than 8,300 retail outlets in 19 European countries. In November 2017, CBR Fashion Group issued a loan in the amount of 450 million Euro. In the last business year, until June 2017, CBR had a turnover of approximately 579 million Euro; according to the company, the results before interest, taxes and amortization (EBITA) were approximately 100 million Euro. The private equity investor EQT had owned CBR Fashion Group since 2007.
The British investment firm Alteri Investors was founded in 2014; the company invests in European retail companies. Their joint venture partner is the investment manager Apollo Global Management.
P+P Pöllath + Partners advised EQT on the management participation within the scope of the transaction with the following Munich-based team:
- Dr. Benedikt Hohaus (partner, M&A/PE, MPP)
- Dr. Tim Kaufhold (counsel, M&A/PE, MPP)
- Sebastian Sumalvico (associate, M&A/PE, MPP)
- Matthias Oberbauer (associate, M&A/PE, MPP)
P+P advises EQT on management participations on a regular basis, for example on the sale of SAG to SPIE or on the sale of BSN medical to the Swedish company SCA.
