Wolf Theiss, working with Clifford Chance, has advised private equity investor Altor – on behalf of Altor Funds – on the acquisition of an 80% majority stake in Kommunalkredit Austria and entering into a partnership with the existing owners and the management of the bank.
Founded in 1958, Kommunalkredit is a provider of financing solutions for infrastructure and energy projects in Europe. According to Wolf Theiss, “with EUR 4.4 billion of assets, Kommunalkredit is expected to generate approximately EUR 120 million in net interest income in 2022, with an impressive compound annual growth rate in excess of 50% over the past years.”
Altor Equity Partners is a private equity firm focused on leveraged buyouts and growth capital investments in Sweden, Denmark, Finland, Norway, and the DACH region. Since its inception, Altor funds have raised over EUR 10 billion in total commitments. According to Wolf Theiss, “the funds have invested in more than 85 medium-sized predominantly Nordic companies with the aim to create value through growth initiatives and operational improvements.”
According to Wolf Theiss, “Altor will support Kommunalkredit with incremental capital to continue its growth trajectory towards becoming the leading sustainable infrastructure platform in Europe. The existing long-term oriented shareholders, Interritus, Trinity Investment Management, and the Austrian Association of Municipalities, will remain minority shareholders.”
Wolf Theiss’ team included Partners Florian Kusznier, Andrea Gritsch, Matthias Schimka, Eva Spiegel, Matthias Unterrieder, and Birgit Kraml, Counsels Zeno Grabmayr, Alexander Zollner, and Stefan Wartinger, Consultant Karin Spindler-Simader, Senior Associates Christopher Juenger and Phillip Wrabetz, and Associates Angela Liu and Nikolaus Wollner.
Wolf Theiss did not respond to our inquiry on the matter.
Editor’s Note: After this article was published, Binder Groesswang announced it had worked with the German office of Hengeler Mueller to advise sellers Interritus Limited and Trinity Investments Designated Activity Company. Roschier reportedly advised the sellers on Swedish law.
Binder Groesswang’s team included Partners Thomas Schirmer, Stefan Frank, and Clemens Willvonseder and Lawyer Philipp Tagwerker.
Subsequently, FWP announced it had advised Kommunalkredit on the deal. The firm's team included Partners Markus Fellner and Kurt Wratzfeld, Attorneys at Law Peter Stiegler, Peter Blaschke, and Florian Dauser, and Associates Christoph Haberhauer and Michael Pointl.