- The North-American investor Eli Global acquires Damovo Group from Oakley Capital Private Equity and Matthew Riley (both London based)
- The transaction is subject to regulatory approval
- Ebner Stolz provides financial and tax due diligence as well as tax structuring and SPA support
Munich, 13th September 2018 – The Accounting and Consulting firm Ebner Stolz advised Eli Global on the acquisition of Damovo Group (Damovo HoldCo Limited, including its 13 subsidiaries and the service center Damovo Costa Rica) by providing financial and tax due diligence as well as tax structuring and SPA support. Tax Due Diligence and tax structuring were delivered with the assistance of Ebner Stolz’s Nexia partner Smith & Williamson. The legal due diligence and SPA services were provided by Addleshaw Goddard LLP.
Headquartered in Durham, North Carolina in the USA, Eli Global is wholly owned by its founder and employees. Formed in 1991 and operating for over 25 years, Eli is a federation of independent portfolios comprising over 100 businesses that together employ more than 7,500 bright minds and determined entrepreneurs. Eli’s portfolios operate in 18 countries and over 15 industries across the world, including healthcare, technology, insurance and financial services. Eli acquires for the long term, has never sold any of its businesses and will continue to invest globally in stable and growing companies and their teams.
“Damovo is well positioned with a strong customer focused team to drive significant growth and is a great addition to our technology services portfolio” said Dave Hersom, CEO of The Pelton Group – Eli’s technology oriented division.
Damovo Group, headquartered in Duesseldorf, is a provider of Unified Communication & Collaboration solutions to large enterprises. Under Oakley’s ownership, Damovo transformed into a leading specialist and was able to more than double its EBITDA since Oakley’s initial investment. The Group generates annual revenues of over EUR 115m, whereof around 60% originate from Germany, Austria, Poland and Switzerland.
Carl Mühlner, who will be taking on the role of Group CEO of Damovo, said; “I am very happy that Damovo, as a fast growing company with a strong culture, has found an investor where culture and trusted relationships are also considered to be at the heart of long term business success: with our customers, our partners, and our people.”
Ebner Stolz team: Claus Buhmann (Partner Corporate Finance, Project Lead), Alexander Simbürger, Ece Hekimoglu, Fabian Mayer (Financial Due Diligence, SPA), Alexander Euchner (Partner M&A Tax, Lead Tax Due Diligence), Andreas Forrai, Janine Ostertag (Tax Due Diligence, Tax Structuring)
In the course of the Tax Due Diligence and Tax Structuring, Ebner Stolz collaborated with the London based Nexia partner Smith & Williamson: Matt Watts (Partner M&A Tax, Lead Tax Due Diligence and Tax Structuring), Chris Ho (Tax Due Diligence and Tax Structuring)
Dr. Ulrike Höreth
Tel. +49 711 2049-1371
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About Ebner Stolz
Ebner Stolz is one of the largest independent mid-sized MDP firms in Germany and is among the Top Ten in the sector. The firm has decades of in-depth experience in auditing, corporate finance, tax advice, legal advice, and corporate consulting. With more than 100 employees and characterized by a market-leading position in the mid-cap transaction market, the sector Corporate Finance plays a central role within Ebner Stolz. The Corporate Finance Team predominantly advises medium-sized industrial enterprises as well as Private Equity companies and Family Offices in the course of national and international transactions.
Cross-border transactions are carried out in with partners of Nexia International, one of the world’s top ten networks of independent consulting and auditing firms. With more than 650 Nexia offices worldwide Ebner Stolz is present in more than 115 countries.