Munich, 10 November 2011- Vision Capital LLP acquired a majority stake in United Initiators GmbH & Co. KG, based in Pullach, Germany, as well as a minority stake in Sweet Ovations Corporation, based in Pennsylvania, both portfolio companies of Speyside Equity.
The transaction was completed on 19 October 2011, following the approval of the German Federal Cartel Office as well as the fulfillment of other customary closing conditions. The value of the transaction is confidential.
Legal advice from Kirkland & Ellis and McDermott Will & Emery
Kirkland & Ellis advised Vision Capital LLP on the transaction. Kirkland advises Vision Capital on an ongoing basis regarding its funds and funds structuring, but this is Kirkland’s first announced portfolio acquisition for Vision Capital. The Kirkland team was led by corporate partners Dr. Martin Ströhmann (Munich), Michael Edsall and Kester Spindler (both New York), and included partners Dr. Roderic Pagel (Tax, Munich), Thomas Evans (Tax, Chicago), Ellen Jakovic (Antitrust, Washington, D.C.), Walter Lohmann (Environmental, Washington, D.C.) and Chuan Li (Corporate, Shanghai), along with associates Florian Bruder, Carl Pickerill, Dr. Kai Terstiege (all Corporate, Munich), Dr. Ulf Kieker (Tax, Munich), Stefanie Gitler (Environmental, Washington, D.C.), Edward Stone, Jordan Koss (both Corporate, New York) and Cynthia Wang (Corporate, Shanghai).
Speyside Equity was advised by McDermott Will & Emery. McDermott has already been retained to work on a bolt-on acquisition for UI. The multi-office McDermott team was led by corporate partners Tom Sauermilch and Joel Rubinstein (both New York) along with Dr. Carsten Boehm and Christian von Sydow (both Munich). The team also included Dr. Martina Maier (Antitrust, Brussels), John Huang (Trial, Shanghai), Dr. Paul Beauregard (Employment, Munich), Gary Karch, Dan Zucker (both Tax, Chicago), Neil Reddy, Harold Davidson, Laura Olch, Chris Lopreste (all Corporate, New York), Dr. Anja Kiewitt, Sylvia Petereit (both Corporate, Munich), Chris Mou (Tax, Shanghai) and Patrick McCurry (Tax, Chicago).