Milbank LLP has advised funds managed by private equity investor Afinum and also the reinvesting member of management on the sale of a majority stake in LIFTKET Group to Ardian and on an agreed co-investment alongside LIFTKET’s management team. The transaction, subject to regulatory approvals, is expected to close within the next three months.
Founded in 1948 in Wurzen, Germany, LIFTKET is a global leader in advanced lifting (electric chain hoists) and motion control technology. Today, the group employs 300 people across the development, production and sale of its products, which meet the highest safety standards. The group operates internationally and serves over 800 customers in Europe, North America and other selected countries and regions. LIFTKET is grouped into three verticals: stage, industrial and renewables. Its stage division includes LIFTKET’s ChainMaster and Movecat brands, which manufacture electric chain hoists, complex kinetics systems and control systems for almost any stage setting, including conference halls, open-air events, sports arenas, theatres and amusement parks.
Milbank comprehensively advised Afinum and the reinvesting member of management on the corporate and tax aspects of the transaction.
The Milbank team was led by partners Leopold Riedl and Michael Bernhardt (joint lead, both Corporate/M&A) and included partners Matthias Schell (Tax) and Alexander Rinne (Antitrust) as well as associates Sarah-Maria Resch, Johannes Wohlmuth, Leonard Mittmann, Steven Buschle, Lana Bierstedt (all Corporate/M&A) and Stefanie Gschoßmann (Antitrust).
