Matter 24 January 2023

Waterland funds reach final close of EUR 4bn in aggregate

De Brauw assisted Waterland Private Equity Investments (Waterland) as Dutch legal and regulatory counsel in relation to the closing of Waterland's ninth institutional flagship fund, Waterland Private Equity Fund IX ("WPEF IX") at EUR 3.5 billion, alongside Waterland Partnership Fund I ( "WPF I") at EUR 500 million. The funds closed at their respective hard caps four months after initial launch. WPEF IX will focus on investments in medium-sized companies in fragmented growth markets in Europe to finance organic and acquisitive growth. WPF I is the first fund of its kind under management of Waterland a natural extension of the Waterland platform. WPF I expects to make minority investments in a very select number of Waterland portfolio companies when these are exited.Interesting features comprised a stapled structure of multiple limited partnerships (CV's) under Dutch law and the use of feeder vehicles under Irish law. In addition to acting as Dutch legal and regulatory counsel, De Brauw also took on a coordinating role via its legal project management and data science department, with DocuSign and interactive subscription tools being used to make the fundraising process more efficient and streamlined.
Matter 19 January 2023

Flow Traders announces update of holding structure

On 21 October 2022, Flow Traders announced the proposal to update its holding structure. The update of the holding structure enables Flow Traders to become more competitive as a global, next generation liquidity provider, particularly in relation to regulatory capital management. Different capital requirements will apply following the update of the holding structure, which are expected to expand Flow Traders' strategic growth options. The update of the holding structure will also create a more level playing field with global peers with respect to the regulatory capital framework.
Matter 16 January 2023

Rivean Capital to acquire CED Group from BlackFin Capital Partners

De Brauw is advising Rivean Capital on its planned acquisition of the CED Group. The CED Group is a Dutch headquartered company and offers its clients a full range of claims management services, ranging from risk taxation and inspection to emergency assistance, together with (injury) claim loss adjustment and handling, repair in kind and recourse. CED is active in the Property, Mobility and Vitality domains and has a strong cross-border claims organisation. Besides the Netherlands, the CED Group is active in France, Belgium and Spain and has offices in 8 other countries for cross-border claims activities.
Matter 4 January 2023

Royal BAM Group refinances its standby revolving credit facility

De Brauw assisted Royal BAM Group, the Netherlands based construction group, in the refinancing of its standby revolving credit facility. The new EUR 330 million investment grade facility has a tenor of four years with two one-year extension options and will be used for general corporate purposes. The interest is partly dependent on certain sustainability targets and aligns with BAM's strategy to build a sustainable tomorrow.
Matter 3 January 2023

Scheybeeck sells a majority stake in BUKO Infrasupport and BUKO Waakt to Equistone

Matter 22 December 2022

De Brauw advises Royal Schiphol Group on the unwinding of its cross-shareholding with Aéroports de Paris

De Brauw has advised Royal Schiphol Group N.V. ("RSG") on the unwinding of its cross-shareholding with Aéroports de Paris S.A. ("ADP"). The unwinding of the 8% cross-shareholdings marks the end of the industrial cooperation between RSG and ADP and was completed in a series of transactions, including multiple block trades, an accelerated bookbuild and a repurchase of shares. RSG has sold its stake in ADP through two block trades with large institutional investors, Crédit Agricole Assurance and Canada Pension Plan Investment Board (CPPIB), which took place in November 2022. RSG subsequently sold its remaining shareholding (approx. 3.9%) in ADP through an accelerated bookbuilding process, which took place on 5 December. To complete the unwinding of the cross-shareholding, RSG repurchased the RSG shares held by ADP.
Matter 20 December 2022

De Brauw advises Thomas H. Lee Partners on its acquisition of Bynder, a leading global digital asset management platform

De Brauw advised Thomas H. Lee Partners ("THL") on the acquisition of Bynder from multiple sellers including Insight Partners.THL, based in Boston, is a premier private equity firm investing in growth companies. Bynder is a global leader in Digital Asset Management (DAM), headquartered in Amsterdam and with major office hubs in the United States, Spain, UK, Australia, and UAE. Bynder's powerful, intuitive, and deeply integrated DAM platform unifies and transforms the creation, management, and distribution of marketing assets. The partnership will accelerate Bynder’s ability to help brands overcome the complexity of proliferating content, enabling delivery of exceptional content experiences and unlocking revenue growth.
Matter 2 December 2022

Egeria has signed an agreement to sell its majority stake in Dutch IT services provider ilionx

De Brauw advised Egeria on the divestment of its majority stake in ilionx to FSN Capital. Egeria and the other shareholders agreed to sell 100% in ilionx, which is a leading Dutch IT services provider focused on customers in regulated industries and the public sector. Headquartered in Utrecht, ilionx has over 1,200 employees across thirteen locations in the Netherlands and offers digital strategy, cloud-oriented application development, data & AI solutions, hyperautomation services and managed services to organisations that are fundamental to the Dutch economy and for the people in the Netherlands. ilionx was founded 20 years ago and has over time demonstrated a strong ability to grow with its customers and become a trusted, long-term IT services provider.
Matter 30 November 2022

Redomiciliation of Collibra to the Netherlands

De Brauw has advised Belgian tech unicorn Collibra on its move to the Netherlands through a cross-border merger.
Matter 22 November 2022

TenneT successfully issues EUR 3 billion Green Bond

De Brauw acted as lead counsel to grid operator TenneT in its successful issue of a EUR 3 billion Green Bond. The transaction was split into four tranches of EUR 650 million, EUR 500 million, EUR 1,000 million, and EUR 850 million respectively. The issue received support of six active joint bookrunners, namely ABN AMRO, Deutsche Bank, HSBC, ING, Rabobank and SMBC.As with TenneT's previous Green Bond issues, proceeds will be used to invest in eligible green power transmission projects in the Netherlands and Germany. These projects focus on connecting large-scale offshore wind farms to the onshore electricity grid and on investing in the onshore transmission grid with the main objective to increase the transmission of renewable energy. Arina Freitag, TenneT's Chief Financial Officer, said: "This decade will require record investments in security of supply and the expansion of renewables in Germany, the Netherlands and Europe. This is the backbone for the energy transition and a key success factor for our industries. As one of the biggest investors in Europe, we are deeply committed to make an important contribution to this profound transformation. This is also reflected in our financial strategy: Green Finance has been part of our DNA for years and despite the current challenges it will play a growing role in our company strategy." The transaction drew strong investor interest, with orderbooks reaching over EUR 6 billion at the time of setting final terms. The issue follows TenneT's EUR 3.85 billion Green Bond issue of earlier this year, and strengthens TenneT's status as the largest corporate EUR green debt issuer.
Matter 8 November 2022

Infinite Electronics to acquire Cable Connectivity Group from TKH and Torqx Capital Partners

De Brauw acted as co-counsel together with U.S. firm Cleary Gottlieb Steen & Hamilton for Infinite Electronics, Inc. (Infinite Electronics) in its acquisition of the Cable Connectivity Group (CCG).Infinite Electronics, a leading global supplier of electronic components serving the needs of customers through a family of highly recognized and trusted brands, has announced on 8 November 2022 that it signed a definitive agreement to acquire Cable Connectivity Group (CCG) from Torqx Capital Partners (Torqx) and TKH Group NV (TKH). The transaction is subject to customary regulatory approval and is expected to close in Q1 2023.CCG is a leader in the production, distribution and assembly of specialty cables and cable connectivity solutions. The company operates across Europe with offices and production and distribution facilities in the Netherlands, Belgium, Germany, Poland, Italy and China. CCG is comprised of the following brands: Jobarco, Pantaflex, Capable, TKD, ConCab, Schrade Kabeltechnik and KC Industrie. CCG has a global customer base across industrial and electronics end-markets.
Matter 27 October 2022

De Brauw advises AEGON on the combination of its Dutch operations with a.s.r.

De Brauw advised AEGON, a leading multinational life insurance, pensions and asset management company, on the combination of its Dutch operations with a.s.r., a leading Dutch insurance group. The deal is valued at EUR 4.9 billion. In connection with the transaction, AEGON and a.s.r. have agreed certain arrangements regarding the provision of asset management services by AEGON for the enlarged a.s.r. group and AEGON's governance rights in a.s.r., including the right to nominate initially two members to the supervisory board with one such supervisory board member having an affirmative vote for certain resolutions, including dilutive transactions and material M&A.The deal signifies a transformative transaction for both AEGON and a.s.r., creating a champion in the Dutch pension, life, and non-life insurance markets.