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WFW advises Naxicap on acquisition of Stromer24 May 2021

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Watson Farley & Williams (“WFW”) has advised Naxicap Germany GmbH (“Naxicap”) on the acquisition of Swiss company myStromer AG (“myStromer”). The sellers include the company’s founder and Swiss family offices. The parties have agreed not to disclose the details of the transaction, which is subject to approval by the relevant competition authorities. As part of the transaction, the management team will also acquire a stake in myStromer.

myStromer, founded in Oberwangen, Switzerland in 2009 by Thomas Binggeli, is shaping the future of mobility with its speed pedelecs, producing around 12,000 of these fast e-bikes (45km/h) a year at the site in Oberwangen and is the market leader its field. With subsidiaries in the Netherlands and US, it employs around 140 people and currently sells its pedelecs in 17 countries.

Naxicap is a private equity firm active in all sectors and focussed on leveraged buyouts and growth capital. It has been investing in emerging companies for more than 30 years, primarily in France, the Benelux, Spain and the DACH countries. Following investments in Lautsprecher Teufel, alwitra and Guntermann & Drunck, this transaction is the fourth independent investment by Naxicap in the DACH region on which WFW has advised them.

The WFW Germany corporate team that advised Naxicap was led by Frankfurt Partner Dr Christoph Naumann. He was supported by Frankfurt Associates Matthias Strecker, Nicolas Persch, Andreas Hitzel, Sebastian Kummler and Anja Gallmayer as well as Transaction Lawyer Lotte Dillen. Partner Romain Girtanner and Senior Associate Hélène Ibos (both Paris) advised on French tax law matters, and Hamburg partner Dr Christine Bader on merger control issues. Counsel Torge Rademacher and Associate Desideria-Alexia Pohl (both Hamburg) advised on IP law issues. Zurich’s Walder Wyss acted as Naxicap’s Swiss counsel, with Vienna’s Dorda on Austrian merger control matters.

Christoph comments: “We’re pleased to have been able to advise Naxicap on the acquisition of Stromer, yet another Naxicap platform deal in the DACH region”.

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