Austria: Schoenherr advises Clubessential Holdings on sale of TAC to LEA Partners

Schoenherr provided Clubessential Holdings with comprehensive advice on all local legal aspects of the transaction in Austria, particularly corporate, M&A and tax matters. The firm had already advised Clubessential Holdings, together with White & Case, on the acquisition of TAC in 2022. White & Case acted as lead counsel on the transaction.

Headquartered in Cincinnati, Ohio, Clubessential Holdings provides software as a service and integrated payment solutions for private clubs, public golf courses, health and fitness clubs, spas, military organisations, municipalities and camp operators. Through nine brands – including Clubessential, foreUP, ClubReady, Exerp, Momence, myFitApp, Vermont Systems, RecDesk, and CampBrain – the company serves about 25,000 customers worldwide. Clubessential Holdings is backed by investors Battery Ventures and Silver Lake.

TAC is a leading provider of software solutions for hotel spas, pools and fitness clubs, headquartered in Hartberg, Austria. The company supports more than 1,200 clients worldwide in optimising their operations and delivering a seamless, high-quality guest experience.

With over EUR 2bln in committed capital, LEA Partners is an entrepreneurially minded multi-stage private equity firm based in Karlsruhe investing in technology companies that drive transformative change in their industries.

The Schoenherr team was led by Thomas Kulnigg (partner) and Niklas Kerschbaumer (attorney at law), with support from Marco Thorbauer (partner) and Sarah Dräxler (associate) on tax matters.

LEA Partners was advised by Morgan Lewis as lead counsel and Brandl Talos as local counsel.