Brockhaus Technologies AG (DB:BKHT) completed the acquisition of a 52% stake in BLS Bikeleasing-Service GmbH & Co. KG.
BLS Bikeleasing-Service GmbH reported revenues of 41 million and an EBITDA margin of 43% in 2020. The closing of the transaction is subject to financing as well as a number of closing conditions. The transaction requires, among other things, the successful completion of ownership control procedures by the German Federal Financial Supervisory Authority. The transaction is expected to be completed in the second half of 2021. As of October 1, 2021, the transaction is expected to be completed in the fourth quarter of 2021. As of October 19, 2021, the transaction is expected to be completed before year end 2021. Stefan Sambol of OMMAX provided technical and commercial due diligence to Brockhaus Capital Management AG.
Brockhaus Technologies AG (DB:BKHT) completed the acquisition of a 52% stake in BLS Bikeleasing-Service GmbH & Co. KG on November 30, 2021. The acquisition was financed with cash of Brockhaus Technologies amounting to around 89 million, vendor loan of 15 million and acquisition loans of 65 million. Brockhaus Technologies also issued 0.56 million shares to the sellers. In addition, certain co-investors acquired shares in Bikeleasing comprising 8%. Following the transaction, Bikeleasing's founders and managing shareholders, Bastian Krause and Paul Sinizin, will retain a 40% stake in Bikeleasing and will continue to lead its operations as managing directors in the future. The German Federal Financial Supervisory Authority approved the transaction. Eurazeo provided 35 million of junior debt financing to Brockhaus Technologies AG, which will be used in the acquisition. Christoph Schauenburg of Luther Rechtsanwaltsgesellschaft mbH acted as legal advisor to Eurazeo. Oliver Hahnelt, Nikolas Koutsós, Norman Wasse, Nina Siewert of McDermott Will & Emery LLP acted as legal advisor to Joh.Berenberg, Gossler & Co. KG as lender to Brockhaus Technologies AG.