Bird & Bird has advised Solvares Group, a portfolio company of the firm’s long-standing client Deutsche Beteiligungs AG (DBAG), in connection with an add-on investment in Opheo Solutions GmbH to extend Solvares Group’s business in Germany.
Solvares Group specialises in software solutions for companies to plan and optimise the scheduling and routing of their field staff and delivery vehicles based on real-time data. Solvares Group has a wide range of customers, particularly industrial companies, energy suppliers, financial service providers, and retail and real estate companies. Starting its business in the software development field more than 25 years ago, Solvares Group has a wealth of experience and expertise in the software market, and in recent years has consistently grown its SaaS (Software as a Service) offering. This trend within Solvares Group is further enhanced by its strategic add-on investments and Solvares Group aims to keep expanding in the SaaS market.
Opheo Solutions GmbH specialises in software solutions in tour planning and optimisation as well as telematics and ETA-Forecasting for logistics companies, thereby complementing Solvares’ product portfolio in a field that aligns with their specific target sector and is proven to have both high customer benefits and considerable growth potential. As in previous acquisitions, Solvares Group made the selling majority shareholder and managing director of Opheo Solutions GmbH part of its own group management structure to combine existing expertise within the group and utilise this knowledge going forward.
Bird & Bird’s Frankfurt-based team advised the client in the legal due diligence and the negotiation of the complex transaction documentation, in particular with regard to the restructuring of Opheo Solutions GmbH prior to closing. Along with the tax structuring team of Shearman Sterling LLP, the team also advised on the indirect re-investment of Opheo Solution GmbH’s previous majority shareholder in Solvares Group. Additionally, the existing shareholders’ agreement between the shareholders of Cheetah Investment SARL (sole shareholder of Solvares Group) was amended throughout the transaction.
Solvares Group and DBAG were advised by the following Bird & Bird lawyers: lead partner Dr. Hans Peter Leube, LL.M. and associates Michael Maier and Konstantin Manus (all Corporate/Private Equity, Frankfurt); partner Dr. Alexander Duisberg and associate Gökhan Kosak (both IT/Data Protection, Munich); partner Dr. Michael Jünemann and associate Timo Förster (both Finance & Financial Regulation, Frankfurt); partner Dr. Catharina Klumpp, LL.M. and associates Dr. Kathrin Kruse and Franziska Pajonk (all Employment, Düsseldorf); as well as partner Guido Bormann and associate Johannes Woltering (both Public Commercial and Regulatory law, Dusseldorf).
