CORVEL advised the founder Kai Teute on the merger of DIT Deutsche Immobilien & IT Marketing GmbH (DIT) with Immomio GmbH. Kai Teute participates as a shareholder in the newly formed Immomio venture and becomes a member of the advisory board.
DIT was founded in 2015 by Kai Teute as part of the Equity Seven group of companies and offers mobile applications for the housing industry, such as the tenant app or a reporting tool for analysing the real estate portfolio. In addition, DIT provides comprehensive consulting services in the area of digital property management. DIT serves clients across Europe with a volume of over 650,000 flats.
The current merger with Immomio GmbH will create Germany's largest proptech in residential housing business with more than 1.4 million rental units under management. DIT will continue to operate on the market as a wholly owned subsidiary of Immomio GmbH under the management of Kai Teute and under its own brand.
Immomio offers a digital end-to-end solution for the letting process: From marketing, to prospect management, to the digital rental contract, Immomio offers an end-to-end digital workflow. Immomio customers manage around 800,000 residential units.
At the same time, W&W brandpool GmbH joined Immomio with additional growth capital.
The goal of the merger of the two software companies is to create an interface through which tenants will be able to conduct all communication with the landlord digitally in the future - from the flat search to the conclusion of the tenancy agreement to moving out.
Advisors Kai Teute / Equity Seven Group of companies
CORVEL (Hamburg): Dr. Felix Brammer (Corporate, lead); Tobias Brandenburg (Corporate)
Hamburg, 6 September 2021
CORVEL has advised Haspa Beteiligungsgesellschaft für den Mittelstand mbH (Haspa BGM) on the acquisition of a majority stake in HANSA Maschinenbau Vertriebs- und Fertigungs GmbH (HANSA). HANSA is a manufacturer of special vehicles with a technologically leading market position and a turnover of around 30 million euros. HANSA designs and manufactures multipurpose equipment carriers in the "heavy duty" segment (e.g. for lawn care, leaf removal, street cleaning, winter services) and cemetery excavators. The company has a strong customer base in both product groups, especially in the municipal sector.
Advisor Haspa BGM
CORVEL (Hamburg): Dr. Dirk Brockmeier (Corporate, lead); Tobias Brandenburg (Corporate)
Hamburg, 3 September 2021
CORVEL provided legal advice to PWM Holding GmbH on the sale of its stake in Paaschburg & Wunderlich GmbH. The purchaser is the Belgian company Bihr NV.
Paaschburg & Wunderlich GmbH, based in Glinde, is a whole-saler of parts and accessories for motorbikes, ATVs and quads. Haspa Beteiligungsgesellschaft für den Mittelstand mbH (Haspa BGM) held a significant stake in Paaschburg & Wunderlich GmbH until the sale.
Advisor PWM Holding GmbH
CORVEL (Hamburg): Dr. Dirk Brockmeier (Corporate, lead); Dr. Felix Brammer (Corporate)
Hamburg, 7 June 2021
CORVEL has advised ALSO Holding AG ("ALSO"), listed on the Swiss stock exchange SIX, on a further acquisition.
On 28. April 2021, ALSO signed a purchase agreement regarding PIN Computers doo, a leading IT provider with operations in Serbia, Montenegro and Bosnia-Herzegovina. This is part of the ALSO’s growth strategy in the region. PIN Computers, founded in 1995, offers IT equipment, mobile devices, and consumer electronics to its large customer base.
ALSO Holding AG is a leading European full-range provider for the ICT industry with a presence in 24 European countries and sales of EUR 11.9 bn. (2020) and over 4,000 employees across Europe. Main shareholder is Droege Group, Düsseldorf, Germany.
CORVEL has acted as lead advisor for ALSO in the transaction.
Advisors ALSO Holding AG
CORVEL (Hamburg): Dr. Philipp Jacobi (lead), Tobias Brandenburg
Wolf Theiss (Belgrade): Nataša Lalovic Marić, Aleksandar Ristic (Serbian Law)
Wolf Theiss (Vienna): Guenter Bauer (Antitrust)
Hamburg, 30 April 2021
CORVEL advised Yptokey GmbH on the investment by IBB Ventures and Totara Investment Club in a capital round.
YPTOKEY offers a software solution for digital access based on decentralized technology. In future, users will be able to use their smartphone to gain access to buildings or authorize themselves to use objects or services. The YPTOKEY technology enables flexible access authorizations and digital access control based on blockchain technologies. YPTOKEY follows the strategy of using decentralized and self-controlling identities as digital keys to open doors. The company was spun off from the international automotive supplier HELLA in 2018.
Advisors Yptokey GmbH
CORVEL Rechtsanwälte PartG mbB (Hamburg): Dr. Felix Brammer
Hamburg, 18 February 2021
In view of the United Kingdom's withdrawal from the European Union (BREXIT), we have decided to transfer the business operations of our firm to a legal form under German law. Effective 1 January 2021, CORVEL Partnerschaft von Rechtsanwälten mbB (Partnership Register of the Hamburg District Court, PR 1352) will take over the business operations of CORVEL LLP with debt-discharging effect.
Naturally, this does not change the trustful cooperation with our clients.
Hamburg, 31 Dezember 2020
CORVEL has provided legal advice to Unzer Group GmbH ("Unzer") on the acquisition of the leading technical network operator Lavego AG from Munich.
Lavego is a network operator for electronic-cash and is a BaFin-approved payment institution. In addition to the settlement of payment transactions, Lavego also processes transactions from technically demanding niche markets such as gas stations and unattended terminals in vending machines. With its own development team, Lavego creates the software used to process transactions itself. Currently, Lavego is preparing for the approval for the nexo standard. The seller and founder, Florian Gohlke, will re-invest in Unzer as part of the transaction.
For Unzer, Lavego and its team are a platform that enables them to onboard terminals faster and expand more easily into other European countries.
The transaction is subject to regulatory approvals and is expected to conclude in the second quarter of 2021.
Unzer is a fast-growing, innovative and modular platform for international payments, offering its customers of all sizes and industries data-driven, secure and custom-fit solutions online, mobile or at the point of sale. The modules cover the entire spectrum of payment management: from the processing of different payment types, to automated analyses of customer behavior and needs, to holistic risk management.
Unzer was founded in 2003 as heidelpay. Today, more than 600 employees work for Unzer across Europe. KKR has been the majority shareholder of Unzer since 2020.
CORVEL LLP (Hamburg): Dr. Felix Brammer (Corporate, lead), Dr. Dirk Brockmeier (Stock Corporation Law), Associates: Thomas Sievers (Corporate, IT), Marc Großmann (Corporate, Due Diligence)
Hamburg, 11 December 2020
CORVEL advised Dryad Networks GmbH ("Dryad") on a Financing Round.
The start-up company Dryad is developing a large-scale IoT network mesh network for ultra-early detection of forest fires. The new system enables public and private forest owners to monitor, analyze and protect even the largest and most remote forest areas around the world. Through a network of sensors, forest fires can be detected in less than 60 minutes, even in the most remote areas.
The investors STIHL Digital, the corporate venture branch of the STIHL Group, the German energy company LEAG, the impact investor ISAR AG and the venture capital branch of ILB, Brandenburg Kapital, have granted Dryad start-up financing of EUR 1.8 million in the framework of the capital round.
CORVEL provided comprehensive legal advice to Dryad on the financing round.
Advisors Dryad Group GmbH
CORVEL LLP (Hamburg): Dr. Felix Brammer (Corporate)
Hamburg, 23 November 2020
CORVEL advised Unzer POS GmbH ("Unzer") on the acquisition of the PoS terminal business of Wirecard.
Two weeks after the opening of insolvency proceedings on the assets of Wirecard Retail Services GmbH ("WDRS"), Unzer took over the business operations and employees at Aschhei from the insolvency administrator (law firm JAFFÉ). Unzer is further expanding its market share in the PoS and terminal business in Germany.
WDRS is a service provider for sales and commercial support of customers with their payment processing around the point of sale (PoS). The approximately 20 employees at Aschheim currently support over 3,600 customers, primarily in the retail sector in Germany, to whom WDRS has leased a total of almost 7,000 card terminals for processing card payments at the PoS. WDRS had to file for insolvency following the insolvency of Wirecard AG.
By taking over the business operations of WDRS, Unzer is continuing its course of growth as a platform for international payment transactions. Unzer was founded in 2003 as heidelpay. With over 600 employees, Unzer offers its customers solutions for the entire spectrum of payment management: From the processing of various payment methods, to automated analyses of customer behaviour and needs, to holistic risk management. In 2019, the company processed a transaction volume of more than Euro 7 billion for over 30,000 customers via its platform.
CORVEL LLP (Hamburg): Dr. Felix Brammer (Corporate), Dr. Dirk Brockmeier (Insolvency Law), Associate: Marc Großmann (Corporate)
EmLabLegal (Hamburg): Dr. Katrin Stamer (Labour Law)
Hamburg, 21 October 2020
CORVEL advised heidelpay Group GmbH on its investment in Tillhub GmbH.
Tillhub offers retailers digital payment methods via an all-in-one iPad cash register system. Well-known customers of Tillhub are Klier Hair Group GmbH and Fleurop AG. Heidelpay is thus expanding its expertise in the field of PoS (Point of Sale) and is continuing to drive its growth and omnichannel approach. The parties have agreed not to disclose the extent of the investment.
Heidelpay is one of the fastest-growing German tech companies for international payment transactions and offers its own solutions such as invoice and installment purchase, direct debit, online bank transfer or prepayment as well as credit card or wallet solutions from well-known providers. Since 2020 the investor KKR is the majority shareholder of heidelpay.
CORVEL has advised the heidelpay comprehensively in the investment.
CORVEL LLP (Hamburg): Dr. Felix Brammer; Associate: Thomas Sievers
Hamburg, 3 July 2020