The international law firm Milbank LLP has advised funds managed by H.I.G. Capital LLC on the refinancing of the acquisition of the CONET group and their add-on acquisition of the ACT Group. Both investments were made in 2017 and are now refinanced by way of a long-term senior financing with super-senior facility feature provided by Pemberton Asset Management and Siemens Bank.
Headquartered in Hennef, the CONET Group operates seven locations in Germany and Austria with more than 400 employees and offers IT systems and consulting in the areas of SAP, software and communications. The ACT Group from Niederkassel, with around 170 employees, provides IT services with a focus on system management, databases, security concepts and business processes.
A Milbank team led by partner Thomas Ingenhoven comprehensively advised H.I.G. Capital on this refinancing.
Advisor to H.I.G. Capital: Milbank LLP
Thomas Ingenhoven (lead), Katja Lehr, Gerrit Merkel (all Finance), Michael Bernhardt, Jörg Neubauer, Sebastian Dexheimer (all Corporate/M&A, all Frankfurt), Thomas Kleinheisterkamp (Tax, Munich)
