Private equity in Luxembourg
Allen & Overy Luxembourg
Leveraging the firm's strong institutional ties with many high-profile global private equity sponsors and its vast international network, Allen & Overy Luxembourg's multi-disciplinary investment funds team is extremely visible in the local market, both on fund structuring as well as on mandates where it takes the lead on the subsequent acquisitions by these vehicles. Fabian Beullekens and Peter Myners regularly handle the highest-profile private equity-led M&A deals handled by the team.
Oaktree Capital Management
European Investment Fund
CVC Capital Partners
- Advised global private equity firm, The Riverside Company, on the acquisition of La Galvanina, an Italian producer of premium private label and branded mineral water and traditional and organic soft drinks owned by the Mini family.
- Advised EQT on its acquisition of biotechnology company Igenomix from Charme Capital.
- Assisted Riverside Partners with the sale of its investment in Euromed Botanicals to Demapharm Holding.
Deeply entrenched in the private equity space and also working with many high-profile international law firms, by virtue of its (largely) independent status, Arendt & Medernach provides a one-stop-shop service to a myriad sponsors at every level of the value chain - including on the structuring of the funds, the pursuant M&A activity and any associated regulatory matters. Team head Pierre Beissel has vast industry credibility and takes the lead on many of the most significant mandates handled by the team, including his work for The Carlyle Group on its €10.1bn acquisition of Akzo Nobel's Specialty Chemicals unit. Laurent Schummer is also recommended.
‘The practice runs like clockwork, with transactions executed smoothly and professionally.‘
Citic Capital Partners
Rocket Internet SE
Triton Investment Management
- Advised The Carlyle Group on its €10.1bn acquisition of Akzo Nobel’s Specialty Chemicals unit.
- Advised Summit Partners on its acquisition of Elatec from Deutsche Private Equity.
- Advised Apax Partners on its acquisition of Italian company AEB.
With significant capability on the ground in Luxembourg and also able to work with a huge roster of private equity experts across the firm's international network, Clifford Chance is a popular choice for many leading sponsors, including KKR and CVC, on their cross-border mandates implementing Luxembourg structuring. Christian Kremer and Katia Gauzès are the primary contacts for private equity transactional work.
EQT fund management
CVC Capital Partners
- Advised EQT Infrastructure III on its acquisition of Holding d’Infrastructure des Métiers de l’Environnement.
- Advised Partners Group on the €2bn acquisitions of the two world-leading suppliers in belt technology.
- Advised KKR on its €3.6bn acquisition of French telecoms company Starlight SAS SFR.
Implementing a multi-disciplinary approach which draws upon the expertise of practitioners from the firm's corporate, banking and funds teams, Elvinger Hoss Prussen provides a comprehensive offering to high-profile private equity sponsors, including KKR and Cinven. With a team of lawyers dedicated to servicing Asian clients from Luxembourg and also aided by a small Hong Kong office, the firm continues to pick up a significant share of Asia-based funds - which are appreciative of the firm's ability to significantly aid the 'difficult process of raising capital in Europe and establish Luxembourg-domiciled funds'. The 'brilliant' Toinon Hoss is a market-leader for private equity-related M&A, and the practice also gained Thibaut Partsch from Loyens & Loeff in January 2020.
Pit Reckinger; Thierry Kauffman
‘Very good legal knowledge, combined with experience in private equity structuring.‘
Pramerica European Value Partners Limited Partnership SCS
Fortress Investment Group LLC
Providence Equity Partners VII LP
CVC Advisers Company (Luxembourg) Sàrl
PAI Partners S.à r.l.
Baring Private Equity Asia
Kronos Investment Group
- Advised Providence Equity Partners on the acquisition of a majority stake in Advanced Music SL, the Barcelona-based company behind the Sónar festivals through Superstruct Entertainment.
- Advised CVC Capital Partners on the acquisition of Finland-based private healthcare and social care provider Mehiläinen.
- Assisted PAI Partners with the acquisition of Albéa from Sun Partners.
Linklaters' multi-disciplinary private equity offering draws upon the expertise of lawyers from across the firm's corporate, capital markets, banking, funds and tax teams. Consequently, the team is well-positioned to advise an impressive roster of clients, including Oaktree and KKR, across the full spectrum of their Luxembourg-based needs. Corporate partner Nicolas Gauzès is regularly involved in significant private equity-led M&A mandates.
DBG managing Partner GmbH & Co. KG – Deutsche Beteiligungs AG (DBAG)
Montagu Private Equity
Round Hill Capital S.à.r.l.
- Advised Triton on numerous mandates, including on the Luxembourg regulatory, tax, and legal aspects of the setting up, structuring and closing of Triton Fund V.
- Advised Oaktree on the sale of its outstanding shares in Countryside Properties plc.
- Advised Montagu Private Equity on its acquisition of the flexographic printing division of Kodak.
Private equity work is one of the cornerstones of Loyens & Loeff's activities in Luxembourg. With 12 partners focusing on work in the sector from across the corporate, fund formation and tax practice groups, and also able to leverage the expertise of practitioners throughout the Benelux region, the team has excellent credibility among a plethora of leading sponsors, including Bain Capital and Blackstone. The team has recently handled numerous disposals for KKR, including on its €2.6bn sale of European cable and pay-TV operator to BC Partners. Guy Palmaers has strong market credibility for private equity-led M&A. The 'smart, calm and diligent' Michael Scott has an excellent reputation among US and UK-based private equity sponsors. Thibaut Partsch left for Elvinger Hoss Prussen in January 2020.
Guy Palmaers; Marc Meyers; Jochem van der Wal
‘Michael Scott is a real star.‘
AMP Capital Investors
Brookfield Asset Management
Caisse de dépôt et placement du Québec
Elliott Capital Management
EMG (The Energy and Minerals Group)
Goldman Sachs Asset Management and Private Equity
King Street Capital Management
Maddison Dearborn Partners
Oaktree Capital Management
Ontario Teachers’ Pension Plan (OTPP)
Park Square Capital Partners
Strategic Value Partners
Summit Capital Partners
The Carlyle Group
- Advising longstanding client CPP Investment Board Europe on major acquisitions in sports data and energy industries.
- Advised KKR on the sale of its stakeholding in European cable and pay-TV operator United Group to BC Partners.
- Advised KKR on the sale of Webhelp to Groupe Bruxelles Lambert.
At Bonn Steichen & Partners, 'very efficient and technical' team head Linda Harroch regularly handles work for global private equity sponsor, Advent International, which she recently advised on its $3.25bn acquisition of General Electric’s Distributed Power business.
‘The practice has a well-established reputation on the Luxembourg market, with notably high-profile partners having a strong technical knowledge and well integrated with Luxembourg institutions.‘
‘Linda Harroch, Beatrice Boulord and Yseult Tournebize are very efficient, reactive and technical.‘
Lime Rock Partners
Cadent Energy Partners
Global Infrastructure Partners
- Advised Advent International on the acquisition of a majority stake in Argentinian payments company, Prisma Medios de Pago, from a group of 14 Argentinian banks and Visa International.
- Advised Advent International on the $3.25bn acquisition of General Electric’s Distributed Power business .
- Assisted Advent International with the agreement in principle concerning the proposed sale of Mondo Minerals for $600m.
Led by Marc Seimetz from Luxembourg and aided by an international network, which includes offices based across many of the primary global fund centres in Europe, Asia and the US, Dechert Luxembourg provides 'good knowledge and understanding of the private debt and private equity business'.
‘The firm provides excellent practical legal knowledge and experience.‘
Led out of Luxembourg by Gérard Maîtrejean and aided by an extensive international network of offices, Dentons has a strong pedigree on behalf of major private equity sponsors, including Terra Firma and Apax Partners, across the spectrum of their investment strategies.
Terra Firma Capital Partners
BNP Paribas Fortis Private Equity
- Advising Terra Firma Capital Partners on a €200m co-investment to acquire Parmaco Group.
Independent business boutique LexField provides a 'cost-effective international service' across the spectrum of private equity-related work, including advising on the Luxembourg structuring elements of cross-border M&A matters. Appreciated for its 'pragmatic and responsive approach', the firm regularly receives referral work and partners up with international law firms who lack a presence in Luxembourg. The team is particularly strong at real estate-related private equity work. The 'fantastic' Aldric Grosjean provides 'clear and concise advice and is able to resolve any problems which are thrown at him'.
Aldric Grosjean; Pierre-Yves Magerotte
‘The Lexfield team is pragmatic and responsive, and has been particularly helpful on transactions where timing is sensitive.‘
‘The very knowledgeable team is extremely responsive, and well-connected to local service providers.‘
‘The team has great technical expertise and are able to distill issues down to very clear advice.‘
‘Aldric Grosjean is an excellent professional with substantial experience.‘
‘The outstanding Pierre-Yves Magerotte ably supports the team in tax matters.‘
‘Adrian Dobbyn is the senior associate to watch for. He is hands-on and very knowledgeable, as well as a true team player.‘
KHI Holdings Group
Meeschaert Capital Partners
KSL Capital Partners
Sun Capital Partners
Volpi Capital LLP
Helios Investment Partners
Korea Asset Investment Management
- Advised Aldgate Developments and KHI Holdings Group on the refinancing and subsequent letting to BT Group plc of an 18 storey 320,000 square foot office building located in central London.
- Advised on all Luxembourg law aspects for Omnes Capital on the acquisition of a minority stake in the Belgian consulting firm Intys.
- Advised Helios Investment Partners on all Luxembourg legal aspects regarding the restructuring of the group financing including all Luxembourg companies.
Praised for its 'speed of execution and responsiveness' and 'ability to think outside the box', NautaDutilh is able to provide a 'responsive and skilled offering' by virtue of its ability to seamlessly knit together expertise from the corporate, tax and funds practice groups. The team's transactional expertise encompasses public-to-private transactions, IPO exits, secondary or other private transactions, and acquisition finance.
‘The team is responsive, skilled and friendly.‘
‘The very commercial and pragmatic Romain Sabatier has a wide knowledge throughout various areas, allowing him to provide a holistic, full “big picture” legal view on things.‘
Ardian France as AIFM of Ardian Real Estate European Fund S.C.S., SICAV-FIS
Coreza Holdings Limited
Grupo Cimcorp (BottegaS.à r.l.)
March Capital (Sawiris Family)
- Advised a key financial investor in the European market on the sale of a payments group to a US global investment firm.
- Assisted an Austrian bank with its takeover from a private equity firm of the remaining assets in a UK shopping centre portfolio.
- Advised a US-based private equity firm on the acquisition of a group of companies operating in the global automated storage and retrieval systems market, and the rollover by the seller and its managing team.
Praised for its 'market knowledge and responsiveness', Stibbe receives a significant amount of high-quality private equity M&A work, either from sponsors directly or as a result of the strong ties it has forged with numerous large international law firms. The 'very efficient' Gérald Origer heads the team and has recently handled numerous mandates for Investindustrial, including advising on the IPO exit (on the London Stock Exchange) of portfolio company Aston Martin.
‘At the very top of the tree for Luxembourg-based law firms in terms of reliability, reactivity, professional competencies, in-depth knowledge of the Luxembourg legal environment and hands-on business attitude.‘
‘Dedicated associate Vanessa Schmitt provides highly professional advice which always met and even exceeded our expectations.‘
- Assisted Investindustrial with the Luxembourg law aspects relating to the IPO of its portfolio company Aston Martin on the London Stock Exchange.
- Advised Global Healthcare Opportunities on the Luxembourg tax and corporate aspects related to the acquisition of Linimed Gruppe.
- Advised Rhône Capital on the acquisition of Fluidra, a global manufacturer of residential and commercial swimming pool equipment based in Spain.
Since opening its Luxembourg office in 2016, Benelux firm AKD has successfully cultivated a credible private equity offering, which has effectively been engaged directly by sponsors and through law firm referrals to advise on the Luxembourg structuring aspects of international transactions. Bernard Beerens heads the team.
NEO Investment Partners
Frédéric Lemoine; Chantal Keereman
Adelis Equity Partners
- Advised EQT on its CHF10.2bn acquisition of Nestlé Skin Health.
- Acted for EQT on its €1.5bn sale of a minority stake in Independent Vetcare Group.
- Advised EQT on its acquisition of Acumatica International.
KLEYR GRASSO is 'very knowledgeable of the Luxembourg private equity market'. Praised for its 'high-quality service', clients appreciate the firm's partner-led approach which enables it to handle complex and often bespoke mandates. The firm handles a significant amount of work for global growth private equity firm, TA Associates. Rina Breininger is noted for her private equity-related M&A work.
‘Fantastic quality, availability and intelligence.‘
‘Rina Breninger and Jerome Burel work well together and provide a proactive and solution-oriented service.‘
Lecta/CVC Capital Partners
IK Investment Partners
CVC Capital Partners
- Advised TA Associates on its investment in Italy-based software solutions developer List.
- Acted for TA Associates on its exit from Hana Group, by selling its participation, held via its Luxembourg holding structure, to Permira.
- Advised TA Associates on its investment in Compusoft, a Norway-based leading provider of computer-aided design software to the kitchen and bathroom retail industries.
PwC Legal Luxembourg is particularly noted for its ability to handle complex cross-border mandates involving multi-jurisdictional tax structuring issues. 'Very positive and proactive' team head Saskia Myners has a particular focus on the UK and German markets.
‘PwC Legal was able to provide us with high-quality advice on complex Luxembourgish law aspects of the transaction in a manner which was understandable and clear, not only for us and other professional advisors involved in the project, but also for our clients.‘
‘Saskia Myners is always in control of her team, even when there are different topics and transactions at once, and gives the client the feeling of being their number one priority.‘