Press Release
13 December 2023

Goodwin advises NORD/LB and OLB on financing for BID Equity backed JustRelate Group

Goodwin advised Norddeutsche Landesbank ("NORD/LB") and Oldenburgische Landesbank Aktiengesellschaft ("OLB") in connection with the refinancing of JustRelate Group, including the financing of the acquisition of French Bmobile and their email builder SaaS Dartagnan. JustRelate Group is a portfolio company of BID Equity.

JustRelate is a software vendor and service provider with more than 30 years of experience in helping mid-sized and large companies as well as public sector organizations to digitize their customer relationships. JustRelate offers solutions for customer portals, digital B2B events, lead generation, customer data management and product configuration.

Bid Equity is a Hamburg-based private equity company that invests exclusively in software companies and has assets under management of around EUR 500 million.

NORD/LB is one of the leading German commercial banks. The core business segments include business with corporate customers, private and commercial customers including private banking as well as special finance in the energy and infrastructure sector, aircraft finance and commercial real estate finance. The bank is headquartered in Hanover, Brunswick and Magdeburg and has branches in Bremen, Oldenburg, Hamburg, Schwerin, Düsseldorf and Munich. Outside Germany NORD/LB is represented by a Pfandbrief Bank (NORD/LB Covered Bond Bank) in Luxembourg and branches in London, New York and Singapore.

OLB is a modern financial institution rooted in northern Germany, and stands for modern services for private and business customers, including competent advice and complex financing solutions in private banking and wealth management, for customized solutions in business with corporate and business customers, and for special expertise in special financing. With total assets of around 24 billion euros and more than one billion euros in equity, the bank has a sustainable size and a solid capital base.

The transaction team was led by Partner Winfried M. Carli (Debt Finance/Private Equity, Munich) and Associate Folko Moroni (Debt Finance/Private Equity, Munich) and included Partners Oded Schein (Tax, Munich) and Arnaud Fromion (Debt Finance/Private Equity, Paris), Associates Jakob Lutzenberger (Debt Finance/Private Equity, Munich) and Charlotte Mouradian (Debt Finance/Private Equity, Paris) as well as Transaction Lawyer Rina Omura (Debt Finance/Private Equity, Munich).