Shearman And Sterling

News November 21, 2019

DZ Bank and OLB’s Acquisition Financing of Golf Versand Hannover by Afinum

Shearman & Sterling advised DZ Bank and Oldenburgische Landesbank (OLB) on the financing of the acquisition of Golf Versand Hannover GmbH (all4golf). Afinum Achte Beteiligungsgesellschaft mbH & Co. KG (Afinum), advised by Munich-based Afinum Management GmbH, has invested in the company. Together with Afinum, Stefan Kirste, managing director and previous 100% owner of the company, seeks to continue all4golf’s success story by further expanding the company.

all4golf is Europe’s largest e-commerce company for golf equipment and the undisputed market leader in the German speaking region. Its leading position is reflected in the extensive range of more than 20,000 SKUs, which includes a full range of golf equipment, apparel and accessories. In addition to the online shop, the physical store, attached to its headquarter and main logistics center in Hanover, offers one of the largest golf assortments in Germany as well as a state of the art fitting center in an area of more than 500 sqm.

DZ Bank is the second largest commercial bank in Germany and the central institution of the cooperative financial group Volksbanken Raiffeisenbanken. It is the central bank for all 850 cooperative banks in Germany, of which it is the majority shareholder. The bank is a leader in the German acquisition financing market with a focus on medium-sized transactions.

OLB is a modern financial group which, in addition to private and corporate customer business as its core area, also offers nationwide tailor-made solutions from a single source for complex financing solutions. It is one of the leading arrangers in the German-speaking LBO market.

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