PwC Legal and PwC Germany advise FAZUA and its shareholders on acquisition of shares by Porsche
Berlin, 24th February 2022
A multidisciplinary team from PricewaterhouseCoopers Legal AG Rechtsanwaltsgesellschaft (PwC Legal) and PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft (PwC Germany) provided comprehensive legal and tax advice to FAZUA GmbH and its shareholders on the acquisition of shares in FAZUA GmbH by Porsche AG. The automobile manufacturer secured 20 percent of the shares in FAZUA including an additional option to acquire further shares enabling Porsche to take over FAZUA completely.
FAZUA is a pioneer of light-weight compact drive technology and develops concepts for aesthetic, agile and light-weight e-bikes. Founded in 2013 and headquartered in Ottobrunn near Munich, the company currently employs more than 100 people. More than 40 renowned bicycle manufacturers already rely on the drive unit manufacturer’s pioneering technology.
Among the existing shareholders of FAZUA are UVC Partners, High-Tech Gründerfonds (HTGF) and Bayern Kapital.
UVC Partners is a Munich- and Berlin-based early-stage venture capital firm that invests in European B2B startups in the areas of enterprise software, industrial technologies, and mobility. The fund typically invests between 0.5 million euro and 10 million euro at the outset and up to 30 million euro in total per company. UVC Partners’ portfolio companies benefit from the extensive investment and exit experience of the management team as well as from the close cooperation with UnternehmerTUM, Europe’s leading innovation, and business creation center. With over 300 employees and more than 100 industry partners, UnternehmerTUM can draw from many years of experience in establishing young companies. This cooperation enables UVC Partners to offer startups unique access to talent, industry customers, and other financial partners.
High-Tech Gründerfonds (HTGF) is a seed investor that finances high-potential, tech-driven start-ups. With around 900 million euro in total investment volume across three funds and an international network of partners, HTGF has already helped forge more than 650 start-ups since 2005. Driven by their expertise, entrepreneurial spirit and passion, its team of experienced investment managers and startup experts help guide the development of young companies. HTGF’s focus is on high-tech start-ups in the fields of digital tech, industrial technology, life sciences, chemistry and related business areas. To date, external investors have injected more than 4 billion euro into the HTGF portfolio via more than 1,800 follow-on financing rounds. HTGF has also successfully sold interests in more than 150 companies. Investors in this public-private partnership include the Federal Ministry for Economic Affairs and Climate Action, KfW Capital, and Fraunhofer-Gesellschaft e.V., as well as the companies ALTANA, BASF, BAYER, B.Braun, Boehringer Ingelheim, Robert Bosch, BÜFA, CEWE, Deutsche Bank, Deutsche Post DHL, Dräger, 1+1 AG, EVONIK, EWE AG, FOND OF, Haniel, Hettich, Knauf, Körber, LANXESS, media + more venture Beteiligungs GmbH & Co. KG, PHOENIX CONTACT, QIAGEN, RWE Generation SE, SAP, Schufa, Schwarz Gruppe, STIHL, Thüga, Vector Informatik, WACKER and Wilh. Werhahn KG.
Bayern Kapital GmbH based in Landshut was founded on the initiative of the Bavarian government in 1995 wholly as a subsidiary of LfA Förderbank Bayern. Bayern Kapital, as venture capital company of the Free State of Bavaria, offers equity capital to founders of innovative high-tech companies and young innovative technology companies in Bavaria. Bayern Kapital currently manages specialist equity funds with an equity volume of around 700million euro. Bayern Kapital has so far invested around 350 million euro of equity capital in approx. 300 innovative technology-oriented companies from different fields including life sciences, software & IT, raw & new materials, nanotechnology and environmental technology. As a result, over 8,000 long-term job opportunities have been created in future-oriented companies in Bavaria.
Porsche AG is a German motor vehicle manufacturer headquartered in Stuttgart-Zuffenhausen. Porsche produced the brand’s first all-electric sports car, the Taycan, in 2019 and is continuing its e-mobility strategy with its investment in FAZUA.
Advisors to FAZUA and its shareholders
Gerhard Wacker, Klara Körber (both lead), Moritz Gröning, Stephan Söbbeke, Hauke Jaeschke (all Corporate/M&A, Berlin), Susanne Zühlke, Malte Sandhove (both Competition Law, Berlin)
Alexander Friedheim (lead), Tomas Oelze (both International Tax Services, Berlin)
STIFEL Investment Banking:
Ben Tompkins (lead, Managing Director)
Advisors to Porsche
Dr. Maximilian Grub, Dr. Tobias Will (both Corporate/M&A)
About PwC Legal:
In our global, rapidly changing business world, cooperation, restructuring, transactions, financing and social responsibility are topics that increasingly concern our clients. They need legal certainty for a wide range of complex tasks. That is why we advise them holistically and in close cooperation with PwC’s tax, human resources and finance experts and our international legal network in over 100 countries. Whether a globally active company, a public corporation or a wealthy private individual, every client has a personal contact at our firm who supports them responsibly in all matters of commercial law. In this way, we help our clients to secure their economic success in the long term.
PwC Legal. More than 220 lawyers at 18 locations. Integrated legal advice for the practice.
At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 155 countries with over 327,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.
PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.