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18 May 2017
press release

Austria: Schoenherr advises Erste Group on Frauscher Sensortechnik leveraged buyout financing

Schoenherr has advised Erste Group Bank AG ("Erste Group"), one of the leading financial service providers in Central and Eastern Europe, on the financing of the leveraged buyout of Austrian sensor technology manufacturer Frauscher Sensortechnik GmbH ("Frauscher Sensortechnik") by New York-based Greenbriar Equity Group LLC ("Greenbriar").

Schoenherr acted as lead counsel to the agent and original lender Erste Group with respect to the structuring and implementation of the leveraged buyout financing under Austrian law.
Greenbriar is a private equity sponsor focused on investments in the global transportation industry with over USD 2.5bln of committed capital across three funds.

Frauscher Sensortechnik is a market leader in wheel detection systems, axle counters and tracking solutions based on inductive sensor technology.
The Schoenherr team advising Erste Group consisted of Martin Ebner (partner, banking, finance & capital markets), Laurenz Schwitzer (attorney at law, banking, finance & capital markets) and Martina Hiebl (associate, banking, finance & capital markets). MNKS acted as Luxemburg counsel for Erste Group. Frauscher Sensortechnik and Greenbriar were advised by Binder Grösswang and Stibbe.




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