Hengeler Mueller advises CVC on acquisition of majority in ista

19. April 2013

Funds advised by CVC Capital Partners has have announced to acquire a majority stake in ista Deutschland GmbH, an energy service provider in Essen, from funds advised by Charterhouse Development Capital Limited. Back in summer 2007, Charterhouse had acquired a majority stake in ista Deutschland GmbH. Funds advised by CVC had then kept a minority stake.

ista offers innovative and sustainable solutions for energy efficiency in buildings. The services for property managers and owners as well as energy utilities range from the supply and installation of devices, consumption metering to the billing and analysis of energy data. In addition to these classic services, ista develops sustainable solutions in the field of energy management which help to save scarce resources. The company employs some 4,600 people in 26 countries and provides regular services for over 11 million units (apartments and commercial properties). In 2012, the ista Group recorded sales of EUR 701 m.

CVC is one of the world's leading private equity and investment advisory firms. Founded in 1981, CVC today has a network of 21 offices and 280 employees throughout Europe, Asia and the US. Currently, CVC manages funds on behalf of over 300 investors from North America, Europe, Asia and the Middle East, who entrust their capital to CVC for periods of 10 years or more. To date, CVC has secured commitments of over USD 50 bn in funds from a diverse and loyal investor base, completing over 300 investments in a wide range of industries and countries across the globe, with an aggregate transaction value of around USD 167 bn.

Hengeler Mueller has advised CVC on this transaction. The Hengeler Mueller team was led by partners Hans-Jörg Ziegenhain and Emanuel P. Strehle (both Munich) and included partners Christian Schwandtner (all Corporate/M&A), Thorsten Mäger (Competition) (both Düsseldorf) as well as counsel Attila Oldag (Corporate/M&A, Munich), senior associate Enno Ahlenstiel (Düsseldorf) and associates Jakub Lorys, Elena Samaras, Philipp Scheuermann (all Munich), Thomas Meyer (Düsseldorf).