Linklaters has partnered Deutsche Beteiligungs AG (DBAG) and the fund it advises, DBAG Fund VI on the management buy-out of ZGS Bildungs GmbH which, under the name “Schülerhilfe”, operates the largest network of education and extra tuition centres for school pupils in Germany and Austria. The new participation aims to ensure the continued growth of “Schülerhilfe” on the flourishing education and extra tuition market. Conclusion of the transaction is subject to approval by the German cartel authorities.

DBAG is a leading German private-equity company with its registered office in Frankfurt am Main and has been making equity available to and securing participations in successful companies since 1965. Along with the funds it manages, the listed investment company also invests using its own capital, DBAG currently manages total assets of approximately €1.2 billion.

With around 80,000 customers, “Schülerhilfe” is one of the leading companies in the private education and extra tuition sector in Germany and Austria. It operates a third of its 1,050 centres itself, with the remaining two thirds run by independent franchisees. The company generated turnover of almost €43 million from its own activities and the amounts derived from its franchisees whose centres, in turn, achieved around €65 million turnover.

Linklaters advised in a team led by Dr Rainer Traugott, Dr Stephan Morsch and Dr Franz Schaefer (all Corporate, Munich). Other team members included Dr Thomas Elser (Tax, Munich), Dr Jann Jetter (Tax, Munich), Thomas Bader (Employment, Munich), Dr Konrad Berger (TMT, Munich), Dr Martina Wind, Dr Thomas Broichhausen, Rieke Bickelmann (all Corporate, Munich), Dr Matthias Korff, Martin Mager (both Tax, München), Jessica Mateja (Employment, Munich), Nadine Annette Geppert (TMT, Frankfurt) and Kai Gassert (Real Estate, Frankfurt).