LONDON – LAWFUEL – EU Business & Law – Allen & Overy LLP has advised Charterhouse Capital Partners LLP on the approximately EUR2.4 billion acquisition of ista International GmbH from CVC Capital Partners and management. This represents the largest buyout in Germany this year.
Ista specialises in submetering and billing of energy, water and ancillary costs. The company is active in 24 countries across Europe, North America and Asia. CVC backed the management buyout of Ista in June 2003.
The Allen & Overy team was led by private equity partner Derek Baird, assisted by German private equity partner, Helge Schaefer, and associates, Gordon Milne, Henry Harris and Marie-Luise Stephan. Banking partner, David Lines, assisted by associate, Katie Compson advised on the debt aspects of the transaction.
Commenting Derek Baird said: “Ista is the largest buyout in Germany this year and Charterhouse’s first deal in Germany in recent times. We are delighted to continue our strong relationship with Charterhouse on this particular transaction.”
