Austria/CEE: Schoenherr advises Bain Capital on the sale of a stake in the Wittur Group to the Canadian pension fund PSP Investments
Schoenherr advised Private Equity Group Bain Capital on the sale, by a Bain Capital controlled company, of a 32 percent stake in the Wittur Group to an investment company of the Canadian Public Sector Pension Investment Board (PSP Investments).
The closing of the transaction took place after the fulfillment of certain closing conditions, including the approval of the antitrust authorities, on 7 March 2019.
Schoenherr advised on the aspects of the transaction in Austria and Hungary. Lead counsel for the transaction for Bain Capital was Hengeler Mueller.
The Wittur Group is one of the world's leading independent manufacturers of elevator components and systems, producing for internationally renowned companies such as Kone, Otis and Schindler. The Group employs around 4,600 people and operates in more than 50 countries.
PSP Investments is one of Canada's largest pension funds with net assets of approximately EUR 100 billion.
The Schoenherr team, which advised on the transaction regarding Austria and Hungary, consisted of Christian Herbst (partner, Vienna, corporate/m&a); Maximilian Lang (counsel, Vienna, corporate/m&a); Kinga Hetenyi (partner, Budapest, corporate/m&a); and Sascha Smets (associate, Vienna, corporate/m&a).