Global law firm White & Case LLP has advised PEAC (Germany) GmbH (PEAC Finance Europe) on the acquisition of the business of AAB Leasing GmbH (AABL), a subsidiary of Augsburger Aktienbank Aktiengesellschaft and LVM Landwirtschaftlicher Versicherungsverein Muenster a.G.
AABL is an equipment leasing company with nine branches across Germany, more than 8,000 SME customers and total assets of approximately €700 million. The completion of the transaction is subject to customary closing conditions and is expected to occur in the third quarter of 2021. The purchase price has not been disclosed.
PEAC Finance Europe operates a pan-European leasing business with €1.8 billion of total assets and is a portfolio company of investment funds managed by HPS Investment Partners, LLC (HPS). HPS is a leading global investment firm with approximately US$68 billion in assets under management as of January 2021.
The White & Case team which advised on the transaction was led by local partner Sebastian Pitz (Frankfurt) and partner Stefan Bressler (Frankfurt and Hamburg) and included partners Andreas Lischka, Roger Kiem, Jost Kotthoff and Bodo Bender (all Frankfurt) and Hendrik Roeger and Justus Herrlinger (both Hamburg), local partners Sebastian Stuetze (Hamburg) and Tim Bracksiek (Frankfurt) and associates Agmal Bahrami, Marianna Frenkel, Patrick Schoelles, Mathias Bogusch, Anna Dold and Thies Schmitte (all Frankfurt) and Kristin Brueggert and Louisa Arlette Maier-Witt (both Hamburg).
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