Ashurst advised Capvis Equity IV LP, a fund advised by Swiss based private equity firm Capvis Equity Partners AG, on the financing of the acquisition of all shares in Thermamax Group. The sellers are minority shareholder Brockhaus Private Equity, who had acquired a stake in 2015, as well as several existing shareholders. The financing was granted by Commerzbank, UniCredit and SEB.

This is the sixth time in a row within a few months that Ashurst advised Capvis in relation to acquisition financings, most recently on the financing of the acquisition of ProXES Holding GmbH.

Thermamax Group consists of Mannheim based Thermamax Hochtemperaturdämmungen GmbH and Thermamax Inc., in Aurora/Illinois/USA. The group develops and manufactures high-temperature insulation systems, used both in vehicles and ships, as well as in the stationary power generation plants and offshore platforms.

The Ashurst team was led by partner Dr Bernd Egbers, assisted by counsel Christiane Bestgen, associate Ralf Stenger (all finance, Munich) and transaction manager Anna Jevsejeva (finance, Frankfurt). Partner Dr Martin Bünning (Frankfurt) advised on tax aspects. Advice on US finance law was provided by partner Kim Desmarais from the New York office.

Capvis is the leading private equity firm based in Switzerland and one of the leading companies in German-speaking Europe.