MAYER BROWN ADVISES PARITEE ON THE TAKEOVER OF THE MAJORITY IN THE LHLK GROUP
Oslo/Frankfurt am Main - Mayer Brown has advised the Norwegian agency platform Paritee, which also includes the multi-award-winning UK agency Brands2Life, on the acquisition of a majority stake in the LHLK Group. The LHLK Group includes LHLK and PRpetuum, two large communications agencies from Germany with a turnover of 11 million euros and around 100 employees in Munich, Berlin and Frankfurt am Main, which will now become part of Paritee's EMEA platform. The parties have agreed not to disclose the purchase price. The transaction has already been completed.
By acquiring a majority stake in the LHLK Group, the agency platform Paritee, in which the Scandinavian private equity fund Explore Equity also holds a stake, is continuing its European growth strategy and gaining a strong presence in the German market. The existing management team of the LHLK Group will remain on board. The founder and CEO, Dirk Loesch, joins the international board of the Paritee Group.
As a result of the majority takeover, the Paritee Group now generates net sales of 60 million euros with more than 400 employees at ten locations. This transaction was an important step for the further expansion strategy in continental Europe.
The German Mayer Brown team from Frankfurt, led by Dr. Fabio Borggreve (Partner, Private Equity and Corporate & Securities) (for corporate law) and Dr. Thomas Dieker (Counsel, Tax) (for tax law), advised Paritee on all German aspects of the complex cross-border platform transaction. The members of the team by practice: Corporate & Securities: Dr. Tobias Reiser, Marcel Pascal Hörauf (both Counsel), Inga Valerie Rupp, Luisa Sophie Schifferens (both Associate); Tax: Volker B. Junge (Partner); Banking & Finance: Odilo Wallner (Counsel), Max Birk (Senior Associate); Employment & Benefits: Dr. Hagen Köckeritz (Partner), Björn Vollmuth (Counsel), Konstantin Kühn (Associate); Real Estate: Duc Hieu Le (Associate); IP: Konstantin von Werder (Counsel).
