Ashurst advised a bank consortium comprising HSH Nordbank, NIBC Bank Deutschland and Raiffeisenbank International on the financing of the acquisition of IN tIME Express Logistik Group by South-African logistics group Super Group Limited ("Super Group") for a total enterprise valuation of €153.5 million. The banks provided €58 million while the remaining amount is financed from cash by Super Group. IN tIME's management team will retain a 25 percent stake in the company. The majority interest was sold by funds managed by Equistone Partners Europe.

The transaction should complete in the autumn after approval by the central bank of South Africa.

The Ashurst team was led by Frankfurt-based banking partner Dr Tom Beckerhoff. Partner Heiko Penndorf advised on tax law. Counsel Christiane Bestgen (Munich), senior associate Dr Endrik Kramski, associate Juliane Deveci and paralegal Anna Jevsejeva (all banking, Frankfurt) assisted. Senior associate Dr Carolin Fenck (corporate, Frankfurt) advised on general corporate law.

IN tIME, with its head office in Hanover, is one of the leading suppliers of direct express shipments across Europe, operating 20 branches across Germany, Poland, Romania, Sweden, Tschechien and Hungary with 550 employees in total.

Super Group is a leading transport logistics company providing end-to-end supply chain management solutions.