Foxway, one of the largest specialists in IT-lifecycle management in Northern-Europe, has acquired the German Flip4 GmbH from its six shareholders, including the founders and Media-Saturn-Holding GmbH. Taylor Wessing acted under the leadership of its Munich Salary Partner Dr. Rebekka Krause as German legal counsel of Foxway in this transaction. The transaction is an important part in Foxway’s strategy to become the leading company in reuse, repair and sourcing of ICT-devices in Europe. So far, Foxway had offices in Norway, Sweden, Finland, Estonia and Spain. The group had a turnover of EUR300 million in 2020 and employs more than 700 employees. Flip4 is one of the leading Re-commerce businesses in Germany with around 40 employees located close to Frankfurt. Foxway has grown with over 30 percent annually during the last years. The parties agreed not to reveal the purchase price. The transaction is completed.
Legal counsel to Foxway:
Taylor Wessing (Munich): Dr. Rebekka Krause (Lead Partner, Corporate/M&A), Nikolay Stoykov, Christian Dietz (both Corporate/M&A), Michael Beer (Employment), Dr. Michael Beyer, Daniel Umlauf (both Finance), Theresa Haßlberger, Johanna Rösch (both Real Estate), Dr. Michael Kieffer (Commercial), Dr. Tim Schwarz (IT/IP)