McDermott Advises Silverfleet Capital on Acquisition of Praxis Herning A/S
MUNICH – McDermott Will & Emery advised Silverfleet Capital and its portfolio company 7days on the acquisition of Praxis Herning A/S. Among the sellers are the two managing directors of Praxis, Jesper Rasmussen and Søren Wortmann, who will continue to manage the business and acquire an interest in 7days. The parties have agreed not to disclose the purchase price.
7days group, headquartered in Lotte near Osnabrück, Germany, is a leading specialist for medical workwear that is currently active in Germany, Austria, Switzerland, France, Belgium and the Netherlands. Silverfleet Capital had invested in 7days at the beginning of the year by way of a buy-and-build strategy. With the acquisition of Praxis, Silverfleet is now opening additional sales markets for the 7days group in Scandinavia.
Praxis Herning A/S was founded in 1995, is based in the Danish textile center Herning and specializes in the design, production and sale of workwear for the healthcare sector in Denmark, Sweden, Norway and Finland. Similar to 7days, Praxis markets its articles both online and via catalogue.
Silverfleet Capital is a leading Pan-European mid-market private equity investment company. The investment teams located in Munich, London, Paris and Stockholm currently manage over €1.2 billion.
The McDermott team was led by Tobias Koppmann, who previously advised Silverfleet on the acquisition of the 7days group. McDermott acted as transaction counsel and was in charge of negotiating the share purchase agreement and coordinating the legal due diligence as well as the reinvestment by the Danish managers in the 7days group.
The McDermott team also included David Guedry, Daniel von Brevern, Steffen Woitz, Maximilian Baur; Associates: Matthias Weingut, Martina Pfaffinger, Robert Feind, Caitlin Howe. They were assisted on Danish law by a team by lawyers from Moalem Weitemeyer Bendtsen: Dan Moalem, Mattias Vilhelm Warnøe Nielsen; Associates: Jonas Høst and Poul Guo (Quach).
About McDermott Will & Emery
McDermott Will & Emery is a premier international law firm with a diversified business practice. Numbering more than 1,000 lawyers, we have offices in Boston, Brussels, Chicago, Dallas, Düsseldorf, Frankfurt, Houston, London, Los Angeles, Miami, Milan, Munich, New York, Orange County, Paris, Seoul, San Francisco, Silicon Valley and Washington, DC. Further extending our reach into Asia, we have a strategic alliance with MWE China Law Offices in Shanghai.