KPS Capital Partners, LP has successfully acquired Sport Group, a leading manufacturer of artificial turf systems and synthetic floor coverings for the sports and leisure industry. The acquisition involved purchasing all shares previously held by Equistone Partners Europe and other shareholders.
Sport Group, founded in 1969, generates an annual turnover exceeding 500 million Euros and operates globally with 19 subsidiaries and over 1,900 employees. The company has production facilities in Europe, North America and the Asia-Pacific region.
NEUWERK, in collaboration with Kirkland & Ellis London, provided legal counsel to KPS and was responsible for all German law aspects of the deal. The financial terms of the transaction remain confidential pending regulatory approval.
Latham & Watkins advised Equistone Partners Europe as they exited from their stake in Sport Group.
"Here at NEUWERK, expertise meets innovation - across disciplines."
Q&A with Borge Seeger, Partner at NEUWERK
Borge, can you tell us your experience during this project and the roles you took on along with your team to ensure a smooth transition for KPS Capital Partners?
Throughout this project, my team at NEUWERK played a crucial role in facilitating a smooth transition for KPS Capital Partners. As the IP/IT partner, I collaborated closely with Kirsten Seeger, our Corporate/M&A partner, and the Kirkland & Ellis team in London. Our multidisciplinary team, comprising experts in various legal fields, worked diligently to address challenges and ensure a seamless acquisition for our client.
How did yourself and Kirsten Seeger decide on a strategy to begin on this project and did this strategy have to adapt at all?
Initially, Kirsten and I devised a strategy focusing on our particular expertise in IP/IT and data protection. However, it soon became clear that our client required broader legal support. Leveraging NEUWERK's cross-disciplinary setup, we swiftly expanded our scope to cover various aspects of German law. This adaptability underscores NEUWERK's strength in addressing evolving client demands across diverse legal domains—a capability we take great pride in.
What areas of German law were necessary to cover for this and if this were neglected what would the outcome of this be?
On this particular deal, our NEUWERK teams provided advice on corporate law, employment law, real estate law, corporate finance, commercial contract law, litigation, intellectual property law, information technology law, data protection, environmental law, and compliance. Neglecting any of these areas could have resulted in regulatory hurdles, contractual or compliance issues, which could have potentially jeopardized the deal's viability.
During this you were working alongside Kirkland and Ellis as they were counselling your client on other aspects, how does this relationship transpire and what is the key to working effectively with other law firms?
Working with a leading firm like Kirkland & Ellis on complex M&A transactions is both a privilege and a testament to our specialized expertise. M&A deals are intricate by nature, requiring not only sharp legal skills but also the capacity for swift, decisive action. The key to our partnership lies in our commitment to being more than just problem identifiers: we strive to be solution providers.
Over the past 15 years, I've provided transaction support in more than 100 deals – that level of expertise is shared by my partners here at NEUWERK. Our experience allows us to integrate our services seamlessly, align closely with the lead law firm, and provide clear, comprehensive solutions. Our collaboration is based on mutual respect and a focused, goal-oriented approach – we believe that's absolutely essential for the completion of any M&A deal.
Are there any more exciting projects currently or coming up for Neuwerk that you wish to share with us, are there plans for continued growth?
Here at NEUWERK, we are embracing technological advancements that are reshaping our industry. A prime example is NEUWERK.AI, an innovative online course we've developed for legal professionals who want to deepen their understanding of artificial intelligence. This initiative is part of our broader effort to meet the growing client demand for expert counsel in AI-related matters, an area where we are actively leading and shaping the conversation.
In the past year, we've welcomed two new partners, strengthening our firm’s expertise and leadership. Since our establishment eight years ago with an initial team of five lawyers, NEUWERK has grown to 32 today, with over 50% women, reflecting our commitment to diversity and excellence. These efforts are key to our strategy for staying at the cutting edge of legal services.
