Ashurst advised the European independent private investment management fund Capzanine and commercial bank NIBC Bank Deutschland AG on the financing of the acquisition of a majority stake in Magix, leading provider of software for the editing of video and music content as well as photographs, by Capiton. While Capzanine provided a second out senior term loan – its first debt investment in Germany - NIBC supported the transaction with a first out senior term loan and revolving facilities.

Private equity firm Capiton is acquiring the stake in Magix as part of a management buy-out in which the entire management team under CEO Klaus Schmidt are acquiring shares and the founders are reinvesting to a significant degree.

This is the first time Ashurst Germany has advised Capzanine. NIBC is a regular client of the firm in relation to acquisition financings.

Ashurst advised the lenders with two separate finance teams. Anne Grewlich led the team advising Capzanine, assisted by senior associate Gabrielle Metherall, associate Emilie Veyran-Müller and paralegal Isabelle Renninger (all finance, Frankfurt). Counsel Carsten Endres (finance, Munich) advised NIBC. Advice on tax aspects was provided by partner Dr Martin Bünning and associate Carina Park (both Frankfurt), corporate law was covered by partner Holger H. Ebersberger and senior associate Felix Burkhart (both Munich).
   
Ashurst's German banking and finance practice advises both banks and alternative lenders, private equity firms and companies on domestic and cross-border acquisition, real estate, asset and infrastructure / project finance as well as on financial restructuring and corporate lendings.

Capzanine delivers flexible long-term financing solutions to SMEs and mid-cap companies. Depending on the circumstances, Capzanine invests as a majority or minority shareholder and/or as a private debt provider, in unlisted small and mid-cap companies. Based in Paris and run by its partners, Capzanine currently has €2.5 billion in assets under management.