Ashurst advised SEB AG as sole lender on financing the acquisition of Cherry GmbH by Hamburg-based private equity firm Genui. The leading manufacturer of mechanical keyboard switches was sold by technology group ZF Friedrichshafen. The parties have agreed not to disclose the purchase price nor the financing volume.Prior to the sale, ZF had separated the Cherry Group from the ZF Group to concentrate more on its core business. Since then, Cherry has been independently active on the market.

The Ashurst team was led by finance partner Anne Grewlich and finance counsel Dr Oliver K. Hahnelt. Associate Dr Jan Ulrich Heinemann and paralegal Nur Ipek (both finance) as well as corporate counsel Dr Philip Cavaillès (all from Frankfurt) assisted.

SEB is a longstanding client of Ashurst's financing practice. At the beginning of the year, a team led by Anne Grewlich and Oliver Hahnelt advised the bank on the refinancing and recapitalisation of cosmetic supplier GEKA's existing credit lines.