Goodwin has advised Crescent Capital Group LP (“Crescent”) as mandated lead arranger on the financing arrangements relating to the acquisition of IMS Robotics GmbH and certain of its affiliates (“IMS Group”) by an acquisition vehicle controlled by funds managed or advised by Apheon (“Apheon”), thereby adding IMS Group to a combined group in the pipe rehabilitation sector comprising resinnovation, Polypipe, Amex Sanivar, Hurricane Trenchless Technologie, Kardiam as well as 11 further affiliated companies (“Pipe Group”). The financing package arranged by Crescent encompasses both the acquisition financing and further credit facilities for Pipe Group's strategic development through add-on acquisitions.
Crescent is a global alternative investment manager singularly focused on corporate credit with 30+ years of investment experience. Crescent invests in debt securities across the capital structure, in both private and tradeable markets, and across companies of all sizes. Crescent has around USD 50bn of assets under management.
IMS Group specializes, inter alia, in the development, construction and manufacture of robots for sewer rehabilitation. The final production of the complex products takes place at the headquarter in Ottendorf-Okrilla near Dresden. Since 1992 IMS Group has been standing for practice-oriented ideas and solutions in the field of modern environmental technology. As a manufacturer of special machines for all areas of sewer cleaning and rehabilitation, IMS Group is among the world market leaders in the field of house connection and main sewer milling machines.
Apheon, established in 2005, is a pan-European mid-market private equity investment company managing around EUR 4.5bn of assets from select global institutional investors and families. Apheon has invested in more than 40 companies across Europe and completed more than 200 add-on acquisitions for a total aggregate transaction value in excess of EUR 7bn.
The team was led by Folko Moroni and included Jakob Lutzenberger, Philipp Lehle and Rina Omura (all Private Equity/Debt Finance, Munich) as well as Philipp Lauer (Tax, Munich).