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WFW advises CAPCELLENCE on the sale of GARDEUR Group

27 September 2013


Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has advised CAPCELLENCE Group (“CAPCELLENCE”) on the sale of all its shares in the GARDEUR Group to Kränzle Beteiligungs GmbH and NRW.BANK Beteiligungsfonds, the development bank of North Rhine-Westphalia.

WFW advised CAPCELLENCE, a Hamburg-based private equity investor, on the legal and tax aspects of the sale. This transaction has not yet been completed and remains subject to antitrust clearance.

Founded in 1920 in Mönchengladbach, Germany, GARDEUR Group specializes in the production and sale of modern, high-quality trousers for men and women and delivers to approximately 3,000 clients in 50 countries worldwide.

Kränzle Beteiligungs GmbH will acquire 51% and NRW.BANK Beteiligungsfonds 49% of the shares. Next to the CEO Gerhard Kränzle, both managing directors Frank Schulte-Kellinghaus and Marcus Kraft will hold an interest through Kränzle Beteiligungs GmbH. GARDEUR will in future be able to rely on the existing bank consortium as debt financier.

The WFW team was led by Munich Corporate Partner Dr. Ahmad Khonsari. He was supported by partners Dr. Stefan Kilgus (Project & Structured Finance, Hamburg), Verena Scheibe and Lothar Wegener (both Tax, Hamburg) as well as associates Marcel Nurk (Corporate, Munich) and Dr. Wichard von Hoff (Project & Structured Finance, Hamburg).

Dr. Ahmad Khonsari said: “We are delighted that with this sale we are able to continue our long standing relationship with CAPCELLENCE.”