Ashurst advised the shareholders of Solare Datensysteme GmbH (SDS) on the sale of SDS to BKW Group, headquartered in Bern/Switzerland. The parties have agreed not to disclose the amount of the transaction. The closing of the purchase is expected in September 2015. By taking over the leading manufacturer of monitoring systems for photovoltaic systems based in the southern German town of Geislingen Binsdorf, BKW has strengthened its position in the photovoltaic service business.
The Ashurst team, led by Frankfurt-based corporate partner Dr Ingo Scholz, included senior associate Dr Carolin Fenck and associate Jan van Kisfeld. Partners Heiko Penndorf (tax, Frankfurt) and Ute Zinsmeister (competition, Munich) also advised. Furthermore, counsel Dr Anna-Katharina Lohbeck (IT), Felix Krüger (tax, both Frankfurt) and senior associate Dr Maria Held (competition, Munich) assisted. US-tax law aspects were covered by partners David Nirenberg and Steven Kopp, as well as counsel Sharon Kim from Ashurst's New York office.
Ashurst partner Ingo Scholz prevailed against several competitors in a pitch organised by the investment bank accompanying the disposal.
SDS employs 84 employees and is the market leader in the monitoring of photovoltaic installations. BKW Group is an international energy and infrastructure business employing some 4,000 people. The group plans, builds and operates infrastructure to produce and supply energy for businesses, households and the public sector.