Milbank LLP advised Hg on the German law aspects of the investment of its portfolio company JTL-Software-GmbH (“JTL-Software”) in Returnless.
The transaction follows Hg's investment in JTL-Software in 2023 and JTL-Software's investments, inter alia, in countX and GREYHOUND last year, on which Milbank advised Hg comprehensively. The investments signal a new phase in the ongoing development of JTL-Software expanding JTL-Software’s offering.
Hg is a leading investor in European and transatlantic software and services businesses, with a focus on companies that modernize business operations. Through specialization in core sectors, complemented by vertical application specialization and operational support, Hg provides support to entrepreneurs and managers looking to scale their businesses. With a strong European network and a presence in North America, Hg's 400 employees and $75 billion in assets under management support a portfolio of more than 50 companies.
Returnless was founded in 2020 in the Netherlands and has become an established supplier of innovative return management software. The platform helps online retailers to streamline and optimize their return processes and gain powerful data-driven insights into their business operations. Returnless is based in Eindhoven and works with customers across Europe.
The Milbank team that advised Hg on the investment in Returnless was led by partner Sebastian Heim (Corporate/M&A) and included associates Julian Jaschinski, Lucas Stumpf and Maximilian Hirschfeld (all Corporate).
