melvo GmbH (Germany) - Jan 2008

unquote
01 January 2008

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DZ Equity Partner GmbH has together with the management, wholly acquired footwear care products company melvo GmbH from HANNOVER Finanz for an undisclosed sum. DZ Equity Partner ’s stake amounts to 49%. The transaction process was advised by Buchanan Corporate Finance GmbH, based in Starnberg.

Together with the management, the investor plans to continue and accelerate the company’s expansion of the business in Eastern Europe and enter additional markets.

Debt

Senior debt was provided by Landesbank Rheinland-Pfalz.

Company

Melvo GmbH was founded in 1998 as a spin-off of shoe manufacturer Salamander Group to incorporate Salamander’s shoe care products activities and was managed as a subsidiary of Salamander AG. In 2003, melvo became independent with the help of HANNOVER Finanz Group and claimed a stable portion of the market. During HANNOVER’s investment, melvo expanded in Russia and sales increased by 50%. Its main brands include Salamander and Woly and Coxy. Melvo’s workforce is 115, sales in 2007 amounted to €37.2m.

People

Michael Niks and Reiner Hilbrand are managers of melvo GmbH.

Advisers

Company - Buchanan Capital Group, (Corporate Finance)Equity - Ebner Stolz & Partner, Martina Schaaf, Thomas Klemm (Financial Due Diligence)Equity - Pöllath & Partner, Christine Maechtel, Otto Haberstock (Legal)Equity - Simon Kucher & Partner Bonn, Birgit Lohmann, Sebastian Hosenfeld (Market/Industrial Due Diligence)Equity - SJ Berwin LLP, Andreas Kirchner (Legal)

Sourced from: Deutsche unquote" 95 (Feb 2008)