Ashurst advised DPE Deutsche Private Equity GmbH (DPE) on the financing of the acquisition of Ziegler Group, a manufacturer of technical non-wovens based in Germany and Hungary. Ziegler products can be found in cushioning material for the furniture industry and insulation for the construction industry, as well as insulation used in the manufacture of glass and carbon fibre reinforced plastics. Furthermore, the automotive industry has become an important part of Ziegler Group's business. The sellers of the Group are CODEX Zweite Beteiligungsgesellschaft mbH, Staufen.Invest GmbH and Ralf Stokar from Neuforn.

The parties have agreed not to disclose the purchase price or the amount of financing involved.

The Ashurst team was led by Munich-based banking partner Dr Bernd Egbers, assisted by counsel Christiane Bestgen, associates Isabell Pöller and Dr Thomas Freund as well as transaction manager Susanne Kasnitz. Partner Heiko Penndorf and senior associate Felix Krüger from Frankfurt advised on tax aspects.

Ashurst advised DPE for the first time in a transaction, thus further expanding its client portfolio in private equity.

DPE is an independent German private equity investment company investing in small and medium-sized enterprises in Germany, Austria and Switzerland. DPE is currently managing total assets of over €600 million.