Goldman Sachs, Cerberus Partners, and Credit Suisse complete sale of Wittur Group to Triton Partners
Client(s) Goldman Sachs & Co.; Cerberus Partners; and Credit Suisse
Jones Day represented a private equity consortium comprised of Goldman Sachs, Cerberus and Credit Suisse in connection with the sale of the Wittur Group to Triton Partners. This sale had been eagerly awaited by the German private equity market and was accompanied by increased speculation regarding alleged bidders and prices since the beginning of 2010. The sale of the Wittur Group to Triton Partners is expected to mark positive turnaround for the European private equity business. The transaction is one of the largest private equity transactions in Europe in 2010.
The Wittur Group is one of the so-called "Hidden German Champions" and one of the world's leading suppliers for the lift industry. It has subsidiaries in 20 countries. The parties have agreed not to disclose the purchase price.
More than 20 jurisdictions have been involved in the transaction which was coordinated by Jones Day's Munich team under the leadership of Ansgar Rempp. Seven offices and more than 50 lawyers at Jones Day were involved in the process.