Deloitte Legal acts as advisor to capiton on the acquisition of Magix
A Deloitte Legal team led by Berlin based M&A-partner Dr Julia Petersen advised Berlin based private equity firm capiton AG on the acquisition of a majority stake in Magix Software GmbH from Bellevue Investments GmbH & Co KGaA.
Magix is a leading global developer and provider of software for the editing of video and music content as well as photographs. The company’s head office is in Berlin, it also has development facilities in Dresden and Madison (USA). Magix has been active in the video and music editing software market for more than twenty years. In 2016, Magix acquired Sony Corporation's video and music editing software products, which contribute to the company's strong growth.
The acquisition of the majority stake took place in the context of an MBO, in which the entire management team under CEO Klaus Schmidt acquired shares and the founders have to a significant degree reinvested. In addition, an experienced industrial expert participated in the transaction to become a minority shareholder and future member of the advisory board. The seller also retains a minority stake.
The acquisition by capiton is the first step in the implementation of capiton’s strategy of increasing its activities in the area of digital business models. Building on the management’s experience in acquisition and integration as well as a fragmented market environment, capiton, the management and the co-shareholders are planning to continue the buy-and-build strategy that has already been successfully implemented.
capiton had previously often worked with Financial Advisory and Tax Teams from Deloitte. In this transaction, capiton’s first deal in the software industry, the PE firm engaged Deloitte Legal for the first time. A key driver of this decision was the fact that Deloitte Legal has already been involved in various transactions in this segment, most recently Native Instruments on the entry of the financial investor EMH. For legal aspects concerning the financing of the acquisition of the majority stake, capiton relied on Shearman & Sterling.
Deloitte Legal (M&A): Dr. Julia Petersen (Partner M&A, Berlin, lead), Jörg Swoboda, LL.M. (Corporate/M&A, Frankfurt), Anna Reshetina-Korkhova, Dr. Klaus Pilz, Nuri Al-Tabatabaie, Frank Silberberger (all Corporate/M&A, Berlin), Dr. Katharina Scheja, Dr. Till Contzen, Pierre Wittmann (all IT/IP, Frankfurt) Claus Wilker (Employment Law, Hannover), Felix Skala, LL.M., Katharina Zickermann (both Antitrust/Merger Control Law, Hamburg)
Shearman & Sterling (Finance): Winfried M. Carli (Partner Finance), Odilo Wallner, Maria Iorno (both Associates Finance)
Advisors Bellevue Investments (known in the market):
TAYLOR WESSING: Dr. Jens Wolf (Partner M&A, Berlin/Hamburg; lead); Dr. Marco Hartmann-Rüppel (Partner Antitrust Law, Hamburg); Dr. Christian Gahr (Senior Associate M&A); Konstantin Schrader (Associate Antitrust Law, Hamburg); Philipp Hoegl (Associate M&A, Hamburg).
Berater Management (known in the market):
V14: Dr. Clemens Waitz (Partner, Berlin)