Ashurst advised the private equity firms Cross and PINOVA Capital on the financing of the acquisition of Rademacher Group. The financing was provided in the form of a unitranche granted by Avenue Capital and a super senior revolving credit facility granted by finance group KBC. The manufacturer of smart home products was sold by German private equity firm Nord Holding. Nord Holding had acquired the group in 2007 together with the founder, Wilhelm Rademacher, and the management from finance investor Arcadia.

The parties have agreed not to disclose the purchase price and financing volume.

The Ashurst team was led by Munich-based finance partner Dr Bernd Egbers. He was supported by counsel Christiane Kneip, associate Isabell Pöller and paralegal Anna Caterina Zoth. Frankfurt partner Heiko Penndorf advised on tax aspects.

Ashurst's finance practice acted for Cross and PINOVA Capital for the first time and thereby further developed its private equity client portfolio.