Lawyers from Carey Olsen’s investment funds team in Jersey have advised European mid-market private equity firm Capvis on the disposal of the remaining portfolio of Capvis Equity III to a new Capvis-managed continuation structure.
The transaction was co-led by Committed Advisors SAS and Eurazeo IM, with the continuation vehicle providing time and additional capital for the exit of the existing portfolio companies, hessnatur, arena and Kaffee Partner.
Hessnatur is a German eco-fashion company with a focus on sustainability and a rapidly growing e-commerce business, arena is a global producer of swimwear and equipment for competitive swimmers and enthusiasts, and Kaffee Partner is the market leader in distribution of coffee and water dispensing machines in the DACH region.
The Carey Olsen team advising on all Jersey legal and regulatory aspects of the transaction was led by partner Daniel O’Connor (pictured), assisted by senior associate Arindam Madhuryya and associate Jordan Zubeidi. They worked alongside onshore counsel Latham & Watkins and Stephenson Harwood.
Daniel said: “Capvis is a long-standing client of Carey Olsen and we were pleased to support the firm on the launch of this continuation vehicle which maintains its exposure to hessnatur, arena and Kaffee Partner. The successful completion of this GP-led secondary transaction underlines the confidence in Capvis as a private equity investor, but also Carey Olsen’s own expertise in the private equity secondary fund market.’
Since 1990, Capvis has completed more than 60 deals with a total invested capital of more than €3 billion.
