Herbst Kinsky has advised Star Capital Partners on obtaining a majority shareholding in the Myflexbox Austria corporate start-up – a spin-off from Salzburg AG fur Energie, Verkehr, und Telekommunikation – in the course of a capital increase.
The transaction remains contingent on regulatory approval.
Founded in 2018 as a pilot project of Salzburg AG, the Myflexbox start-up develops smart lockers that enable parcels to be delivered, collected, returned, and sent contactlessly.
According to Herbst Kinsky, “Star Capital is a London-based private equity firm focused on developing strategic asset-based businesses in Western Europe. The PE firm was founded in 1999 and invests primarily in companies with an enterprise value between EUR 50 million and EUR 1 billion.”
“The focus on an open smart-locker network in combination with clever software solutions creates a highly efficient logistics infrastructure for customers and parcel service providers that enables a reduction of carbon dioxide and inner-city traffic,” Star Capital Partner Philipp Gensch said.
Herbst Kinsky’s team included Attorneys at Law Carl Walderdorff, Christoph Ludvik, and Valerie Mayer and Associates Leopold Gottsauner Wolf, Valentin Krenkel, and Irmgard Nemec.
Editor's Note: After this article was published, KPMG Law affiliate Buchberger Ettmayer Rechtsanwaelte confirmed it had advised Salzburg AG – previously the sole shareholder of Myflexbox – on the issuance of new shares representing a majority stake in Myflexbox to Star Capital. The firm’s team included Partners Stefan Arnold, Counsel Pablo Essenther, Associate Thomas Androsch, and Junior Associates Michael Lins and Michael Hauer.