Shearman And Sterling

News February 25, 2019

Equistone’s Acquisition Financing of RENA

Shearman & Sterling advised funds managed by Equistone Partners Europe on the financing of the acquisition of RENA Group from funds advised by Capvis AG. The financial terms of the deal are undisclosed and the acquisition remains subject to clearance from the relevant competition authorities.

RENA’s management team and the CEO, Peter Schneidewind, will become shareholders in the company following its change in ownership, demonstrating their long-term commitment to the business. Together with Equistone, RENA intends to expand its technological leadership into adjacent markets. In addition, while strengthening RENA’s partnerships with its existing customers, the company will also seek to develop new customer relationships.

RENA, founded in 1993 and based in Gütenbach in the Black Forest, Germany, is one of the world’s leading manufacturers of wet chemical surface treatment technology and machinery. As a global player, RENA provides high-tech solutions to clients in the semiconductor, medtech, green energy, and glass & sapphire sectors. The company has a strong international presence, with three production and R&D facilities in Germany and Poland, as well as sales and service locations across both Asia, including China and Singapore, and North America. RENA generates an annual output of over €120 million.

Equistone is one of the leading private equity investors in Europe and one of the most active in the German mid-cap market. Shearman & Sterling previously advised Equistone, inter alia, on the financing for the acquisitions of BOAL Group, DefShop, SportGroup, TriStyle and GALA Group as well as several add-on acquisitions.

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