Ashurst advised capiton AG on the two financings to support the closing of the continuation fund “capiton Quantum” and the takeover of Raith and AEMtec, two leading German high-tech companies, with a total transaction volume of €248m. The continuation fund will provide Raith and AEMtec with fresh capital for their growth trajectories, allowing for capiton’s continued investment into both portfolio companies to fuel their next phase of growth. For the set-up of the continuation fund, capiton receives capital commitments from high-profile new investors as well as existing investors, led by Eurazeo and Unigestion as anchor investors. Raith and AEMtec were originally acquired by capiton Fund V in 2016 and 2018, respectively.
Located in Berlin, AEMtec is a leading global provider of customised advanced packaging services for micro- and optoelectronic systems. The company’s products are aimed at blue-chip customers in the end market segments medical technology, industrial automation, semi-conductor production, data processing and telecoms. Raith with headquarters in Dortmund is a leading global developer and manufacturer of nanofabrication systems and software used for printing and scanning nanostructures. Since 1980 Raith has been developing, manufacturing and distributing system solutions for R&D applications to analyse and develop microchip circuits and other nanostructures.
Berlin-based capiton is an owner-managed private equity firm that manages a total fund volume of currently €1.6bn. capiton invests in medium-sized companies mainly in German-speaking countries. Ashurst has already worked for capiton on several occasions.
The Ashurst team was led by partner Anne Grewlich and counsel Sabrina Bremer. They were assisted by associates Sascha Lotholz and Yasaman Zargar as well as transaction lawyer Angela Sieling (AEMtec financing) and associate Isabelle Renninger-Dupont as well as senior transaction lawyer Petra Schott (Raith financing) (all Global Loans, Frankfurt).
Ashurst’s German banking and finance practice advises both banks and alternative lenders, private equity investors and companies on domestic and cross-border acquisition, real estate, asset and infrastructure / project finance as well as on financial restructuring and corporate lending.