Global legal practice Norton Rose Fulbright has advised the investment fund Perusa Partners Fund 2, LP (Perusa) on the acquisition of a majority participation in Schuberth Holding GmbH and its subsidiaries (Schuberth Group). The former owner, a subsidiary of Susquehanna International Group, LLP from Pennsylvania, USA, keeps a minority share in Schuberth. The operative subsidiaries of the company in Germany and the USA are combined under the umbrella of Schuberth Holding GmbH. The purchase agreement was signed on 17 September 2013; the parties agreed to keep the purchase price itself confidential.

Schuberth Group with its seat in Magdeburg was founded in 1922 and is a leading manufacturer of premium head protection helmets in the motorcycle, Formula 1, fire fighting, police and workplace safety sectors. The company develops and produces carbon helmets for Formula 1 and is the exclusive development partner of the Scuderia Ferrari. Schuberth helmets are exported to 55 countries, and since 2010 the USA has also been supplied through a Schuberth subsidiary there. In 2012, Schuberth generated an annual turnover of around €58m and had around 320 employees worldwide.

Perusa Partners is a leading investor focussing on special situations and buy-and-build strategies in SMEs. The company is a long-standing client of Norton Rose Fulbright in Germany. The practice first supported Perusa in 2008 in the scope of the acquisition of shares in Buderus Feinguss Group (BFG). Since then, a team led by Klaus Bader has regularly been advising the investment company on legal issues, recently e.g. on the sale of the shares in BFG in spring this year.

The transaction was led by Klaus Bader (corporate/M&A, tax) with support from Craig Redinger (US law) and Katrin Scheicht (employment law) all Munich. Further assistance was provided by associates Nicolas Daamen, Philipp Günther, Armin Fary (all corporate/M&A) and senior counsel Keith Calhoun-Senghor (US law) all Munich.

Besides, Perusa was also advised by Ernst & Young (tax and financial, Munich).

Latham & Watkins (Frankfurt) acted as advisor for the seller.