Milbank LLP has advised the IK IX Fund, a fund managed by Pan-European private equity (“PE”) firm IK Partners ("IK"), on the financing of the acquisition of a majority stake in MÜPRO Group GmbH ("MÜPRO" or “the Company”), a leading solutions provider and supplier for applications in pipe-fixing technology, from Perusa Partners Fund II, alongside management, who will be reinvesting. Financial terms of the transaction are not disclosed.
IK focuses on investments in the DACH region, Benelux, France, the Nordics and the United Kingdom. Since 1989, IK has raised more than €14 billion of capital and invested in over 170 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects.
Founded in 1964, MÜPRO is a German-based specialty manufacturer and distributor of pipe-fixing technology for technical building equipment, sanitary, heating, ventilation and air conditioning applications (“SHVAC”). The Company is headquartered in Wiesbaden, Germany, with over 460 employees serving over 12,000 customers ranging from small local installers to large installers who manage complex construction projects. Through the partnership with IK, MÜPRO aims to grow its footprint in existing markets, continue its journey of digitisation, expand into adjacent geographies and drive market consolidation.
The Milbank team that advised IK on the financial aspects of the transaction was led by partner Barbara Mayer-Trautmann and included associates Alexander Lang, J. Melchior Raiser and Anna Elizabeth Merkl (all Finance, Munich).
