White & Case advises Nordic Capital on strategic investment in German IoT and wearable technology disruptor ProGlove
1 min read
Global law firm White & Case LLP has advised Nordic Capital, a leading European private equity investor, on an agreement to become the majority owner of the German-based industrial Internet of Things (IoT) company ProGlove.
Nordic Capital's investment will enable ProGlove to accelerate its future growth plans, further expand its customer base and invest in product development. The financial terms of the transaction will not be disclosed.
Founded in 2014, ProGlove provides integrated hardware and software solutions that are built around wearable barcode scanners with multiple IoT sensors allowing for hands-free data capture to help improve worker well-being, increase productivity and optimize efficiency. With over 250 employees in Munich, Chicago and Belgrade, it serves numerous customers in retail and e-commerce, logistics and warehousing, manufacturing and automotive across more than 30 countries.
The White & Case team which advised on the transaction was led by partners Stefan Koch and Tomislav Vrabec (both Frankfurt) and included partners Jan Ole Eichstädt (Frankfurt), Martin Munz (Hamburg), Axel Schulz (Brussels), Lars Petersen (Hamburg) and Bodo Bender (Frankfurt), local partners Marco Stephan and Sebastian Stütze (both Frankfurt) and associates Christian Sperling, Eojin Lie, Viviane Cismak (all Frankfurt), Stefan Papastefanou (Hamburg), Marios Gavriiloglou (Brussels) and Mathilda Xu (Berlin).
For more information please speak to your local media contact.