Shearman & Sterling advised CAPZA as lender on the financing of the acquisition of a majority stake in CSS AG, a leading German business software provider, by Carlyle. Carlyle will work alongside the CSS management team to support the company‘s growth through the further development of its eGECKO solution via synergetic acquisitions and the offering of cloud solutions. CEO and majority shareholder Michael Friemel will retain a large minority stake in CSS and will continue to lead the company as CEO.

Founded in 1984, CSS is headquartered in Künzell, Germany and is the only software vendor with a fully integrated all-in-one business solution, named eGECKO, for accounting, controlling and HR modules which is specifically targeted at the needs of local and multinational German mid-market customers.

CAPZA is a pan-European asset manager focused on private investments in small and medium-sized European companies. With more than 90 employees in Paris, Munich, Madrid and Milan, CAPZA Group manages assets of more than €5 billion for international institutional investors.

The Team