Milbank LLP advised Hg comprehensively on the investment of its portfolio company JTL-Software-GmbH ("JTL-Software") in countX GmbH (“countX”).
The investment in countX follows the investment of Hg in JTL-Software in the fourth quarter of last year, on which Milbank also advised Hg comprehensively. The investment in countX signals a new phase in the ongoing development of JTL-Software with the intention of expanding JTL-Software’s offering to include a more diverse range of solutions and services.
Hg is a globally acting private equity investor that invests in software and services companies with an investment focus on businesses 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 $65 billion in assets under management support a portfolio of more than 50 companies.
countX is a leading European software provider for VAT in e-commerce. Through a combination of cutting-edge technology, direct personal support and quality control, countX supports the automation of cross-border VAT registration and reporting. countX was founded in 2020 and has its headquarters in Berlin and two other locations.
JTL-Software is a provider of innovative ERP software for multichannel commerce. With more than 50,000 customers and over 500 partners in Germany, Austria and Switzerland, JTL-Software is one of the leading manufacturers of e-commerce software in the DACH region.
The Milbank team that advised Hg on the investment in countX was led by partner Sebastian Heim (Corporate/M&A) and included partner Thomas Kleinheisterkamp (Tax), special counsel Sebastian Reiner-Pechtl (Corporate), as well as the associates Markus Lutterotti, Mahmood Kawany, Julian Jaschinski, Lucas Stumpf (all Corporate/M&A), Susanne Baier (Finance) and Maximilian Hirschfeld (Corporate).
