Network Corporate Finance has advised EastMerchant GmbH and the Heinrichs Investment Management Company on the sale of their holding in SachsenFonds Holding GmbH to the KanAm Group which specialises in international real estate transactions.
Transaction
EastMerchant GmbH and the Heinrichs Investment Management Company have sold all of their 85.1% holding in SachsenFonds Holding GmbH, Haar near Munich, Germany, to the KanAm Group, a privately-run international group of companies, focusing on, among others, the issuing and asset management of closed-end and open-end property funds and special funds.
Target Company
The SachsenFonds Group specialises in the conception, issuing and management of yield-oriented investments. The company group's range of funds includes investment offers for private individuals, as well as issues for institutional investors. Various classes of investments totalling 43 publicly-offered funds and 3 institutional funds have been initiated since the formation of the company in 1998. With a syndicated total capital of around EUR 1.7 billion, a managed portfolio of approximately EUR 4.7 billion and nearly 55,000 serviced investors, the SachsenFonds Group is currently one of the leading German funds initiators. In addition to the sites in Germany, the company group maintains subsidiaries in Australia, Poland and the Czech Republic.
Key Facts
| Transaction value: | not disclosed |
| Sector: | Financial services / investments |
| Sales: | EUR 45 million |
| Employees: | 120 |
| Date: | December 2007 |
Client
EastMerchant GmbH, Düsseldorf, is a 66.8% affiliated company of Landesbank Sachsen Aktiengesellschaft with headquarters in Leipzig, which has specialised in complex solutions in the area of asset based finance. Hans Heinrichs, one of the joint founding shareholders and now managing director of SachsenFonds Holding GmbH, is the sole shareholder of Heinrichs Investment Management Company.
The role of Network Corporate Finance
Network Corporate Finance exclusively advised the clients on the preparation and execution of the selling process. Following the preparation of the information memorandum, a management presentation and time frame, Network Corporate Finance, within the framework of a supervised auction, approached specific strategic investors and financial investors, provided the due diligence to a limited number of interested parties, discussed the economic key points of the sale and purchase agreement, and finally, ensured compliance with the closing conditions.
