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Binder Groesswang and Wilkie Farr Advise Gantne on Acquisition of Syx Automations

Binder Groesswang and Wilkie Farr Advise Gantne on Acquisition of Syx Automations

Austria
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Willkie Farr & Gallagher and Binder Groesswang have advised Gantner Electronic Austria Holding GmbH on the acquisition of Syx Automations NV. Stibbe Brussels advised the seller.

Gantner is a high-tech company specializing in electronic access control, billing, and intelligent lock solutions. Syx Automations is, according to Binder Groesswang, "the market leader in the field of ticketing and leisure facility management solutions in the Benelux region."

The deal was completed on June 16, 2017, and was facilitated with the support of Ardian (former AXA Private Equity), a leading independent investment company that has been the majority shareholder at Gantner since February 2016. The shares in Syx Automations were acquired from the Sofindev III fund, managed by Sofindev Management SA of Belgium, and the company’s own management. Under the leadership of CEO Dirk Syx, current management will remain at the helm while also taking a minority stake in the new group. The parties agreed not to disclose any further details of the transaction.

According to Binder Groesswang, "the strategic and transformational merger of Gantner and Syx Automations creates a globally operating integrated provider of comprehensive access, billing, and management systems for sport facilities, leisure centers, and visitor attractions. The tie-up will enable both companies to tap wide-ranging synergies and to realize their potential for further international growth. Customers will be offered holistic solutions consisting of a wide range of solutions integrated into a uniform software management system. In fiscal 2017, the two companies are expecting aggregate sales revenues of some EUR 50 million.

The Willkie Farr team was led by Partner Maximilian Schwab and included Partners Mario Schmidt, Didier Willermain, Jean-Quentin De Cuyper, and Jan Wilms.

The Binder Groesswang team consisted of Lead Partner Thomas Schirmer and included Partner Christia Wimpissinger, Attorneys at Law Hermann Schneeweiss and Clemens Willvonseder, and Associate Cordelia Klauhs.

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