CMS has advised the mid-market Equistone Partners Europe Limited private equity firm, on the acquisition, made through its Fund V, of all shares of TriStyle Mode GmbH, from selling shareholders Primondo Specialty Group GmbH and Wirth Beteiligungs GmbH. Gleiss Lutz represented the sellers, while Pollath & Partners represented the management. The parties agreed not to disclose the purchase price. The transaction remains subject to regulatory approval by the competition authorities.
Equistone Partners Europe is one of Europe's leading investors in mid-market buyouts with offices in Germany, Switzerland, France, and the UK. Equistone has a strong focus on change of ownership deals with enterprise values of between EUR 50 million and EUR 300 million.
TriStyle — via its subsidiaries Peter Hahn und Madeleine Mode — distributes its own apparel brands and selected third party brands with a focus on the over-45 demographic. Key markets include Germany, Austria, Switzerland, Netherlands, and France. In the financial year 2013/14, TriStyle generated total sales of EUR 483 million and had over 1100 employees.
An international CMS team lead by German Partners Martin Bell and Heike Wagner advised Equistone in connection with this transaction on all legal aspects of the acquisition and the management participation. All Austrian aspects of the transaction were handled by a corporate team led by CMS Partner Alexander Rakosi, assisted by Associates Lisa Oberlechner and Caroline Schmidt.