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15.07.2010 LBBW Equity Partners/goetzpartners advised the shareholders of Phönix/Strack Group on the sale to funds advised by AXA Private Equity

On July 9th, 2010, shareholders of Phönix/Strack Group (“Phönix/Strack Group”) – consisting of the main operating companies Strack GmbH, Phönix Armaturen-Werke Bregel GmbH and Präzisionsarmaturen Ostfalenpark Barleben GmbH – entered into an agreement to sell their shares to funds advised by AXA Private Equity. Along with the transaction the managing partners Lothar Fichtner and Markus Rosam made significant reinvestments and are subsequently holding a minority shareholding in the newly formed group structure. The parties have agreed not to disclose the value of the transaction.

The combination of Phönix/Strack Group’s excellent technology base and strong footprint within its clients’ industries with the widespread network and financial capabilities of AXA Private Equity is expected to form the basis for a significant growth potential in the mid term, as stated by both Lothar Fichtner, managing partner of the newly formed Phönix Group and Dirk Wittneben, managing director of AXA Private Equity.

goetzpartners CORPORATE FINANCE, in its capacity as the exclusive advisory partner of the M&A-joint venture LBBW Equity Partners between goetzpartners and Landesbank Baden-Württemberg (“LBBW”), acted as sole financial advisor to the shareholders of Phönix/Strack Group during the entire transaction process. The goetzpartners CORPORATE FINANCE project team was headed by Michael A. Goehr (Munich office). Oppenhoff & Partner, lead by Ronald Meißner, acted as legal advisor to the sellers.

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