Austria: Schoenherr advises NORD Holding on acquisition of majority stake in Heizkurier Group
Schoenherr advised NORD Holding, together with Noerr, on the acquisition of a majority stake in the Heizkurier Group from Odewald KMU (Heizkurier).
Heizkurier's existing management and founders will continue to hold shares in the company. Together with the existing management, Heizkurier intends to further expand its leading market position and continue the dynamic growth of recent years. In addition, the considerable ESG potential of the company - in particular through its contribution to climate neutrality in the building sector - is to be further focused in line with the ESG goals of NORD Holding. Schoenherr advised NORD Holding in the transaction as local counsel on Austrian law both in the due diligence and in the acquisition financing.
With its 50-year history and assets under management of EUR 2.5bln, NORD Holding is one of the leading German private equity companies. It concentrates on the areas of direct investments and fund-of-funds investments. The direct business focuses on the structuring and financing of corporate succession models, the acquisition of group divisions/subsidiaries, and expansion financing for medium-sized companies.
Heizkurier is a leading Equipment-as-a-Service (EaaS) provider for mobile heating and cooling solutions based in Wachtberg, Germany. With an extensive and modern equipment fleet, Heizkurier provides its customers with needs-based solutions for heat, hot water, warm air and cooling. The Heizkurier Group employs around 110 people at its headquarters and 13 service and sales locations in Germany and Austria.
The Schoenherr team consisted of Michael Magerl (partner), Victoria Zeppitz (attorney at law) and Stefan Holzinger (associate).
The Noerr team was led by Holger Ebersberger (partner) and Florian Sippel (associated partner).