Global law firm White & Case LLP has advised leading private equity investor Nordic Capital on its investment in Bilthouse Group, a new umbrella combining financial services providers Baufi24 Baufinanzierung AG, Hüttig & Rompf AG and Creditweb GmbH.
Nordic Capital will become the majority stakeholder in Bilthouse, its first investment in the financial services sector in the DACH region (Germany, Austria and Switzerland). Alongside its initial investment, Nordic Capital will provide an additional primary capital investment of €30 million to the new holding company, which will help Bilthouse combine and grow its online and offline capabilities to create clear value-add for end customers.
From the outset, Bilthouse will be one of the leading players in the German B2C segment for mortgage brokerage. The Bilthouse brands employ around 700 people and the companies currently generate a combined mortgage financing volume of around €5 billion per year. Nordic Capital plans, in partnership with the founders and management, to actively support the new company’s growth, drawing on its experience from previous investments in financial services providers and comparison websites.
Nordic Capital currently has six portfolio companies in the sector, including online comparison platform Sambla Group, credit management company Intrum, payment services provider Trustly and digital retail banks Nordax and Bank Norwegian.
The White & Case team which advised on the transaction was led by partner Stefan Koch (Frankfurt) together with partners Tomislav Vrabec and Sebastian Pitz (both Frankfurt) and including partners Bodo Bender, Tim Bracksiek (both Frankfurt) and Axel Schulz (Brussels), local partners Sebastian Stütze, Anna Dold, Marco Stephan (all Frankfurt) and Moritz Müller-Buttmann (Hamburg), and associates Kai Neumann, Justus Redeker, Alexander Sansotta, Mathias Bogusch (all Frankfurt), Jana Rudt (Berlin), Marios Gavriiloglou and Daniel North (both Brussels).
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