Taylor Wessing advises Brockhaus Capital Management AG on IPO on the Frankfurt stock exchange

The Frankfurt corporate and capital markets team from Taylor Wessing, led by Frankfurt partners Ulrich Reers and Lars-Gerrit Lüßmann, advised the technology group Brockhaus Capital Management AG (BCM) on its IPO on the Frankfurt stock exchange.

The first day of trading in BCM shares in the regulated market (Prime Standard) of the Frankfurt Stock Exchange is on July 14, 2020. On July 9, 2020, BCM had set the volume of the private placement prior to the IPO to EUR 115 million (including over-allotment). The placement price had already been set at EUR 32 per share on July 7, 2020. After the three-day bookbuilding period, all offered shares (including the over-allotment) were fully placed with international investors, including in the USA pursuant to Rule 144A of the Securities Act. Only new shares from a capital increase were placed. This corresponds to a market capitalization of approximately EUR 317 million after the IPO (without exercising the greenshoe option). Assuming full exercise of the greenshoe option, BCM's market capitalization is € 332 million.

BCM, based in Frankfurt am Main, is a technology group that acquires high-margin, high-growth technology companies with B2B business models in German medium-sized companies and further develops them over a long-term horizon. The proceeds from the capital increase are intended to finance the company's inorganic growth strategy. With the IPO, BCM offers investors access to these unlisted German technology companies that are otherwise not accessible to capital markets investors.

Citi and Jefferies accompanied the transaction as Joint Global Coordinators and Joint Bookrunners and Commerzbank as Joint Bookrunner.

The Frankfurt Taylor Wessing team already advised BCM on setting up the structure as a (future) technology group in the legal form of the AG in 2017 and has supported the company since then on all issues relating to stock corporation and capital markets law, among other things in connection with the acquisitions of its subsidiaries Palas and IHSE.

Legal advisors Brockhaus Capital Management

Taylor Wessing: Ulrich Reers (Partner) and Dr. Lars-Gerrit Lüßmann (Partner) (both lead), Dr. Sebastian Beyer (Salary Partner), Associates: Elena Quach, Tobias Kraut, Brigitte Su-Lin Sommer, all corporate / capital markets, all Frankfurt