Orrick has advised EQT Expansion Capital II on the sale of UDG, a specialized German agency group for digital marketing services and communications, to leading digital agency group Performance Interactive Alliance (PIA), owned by European mid-market private equity firm Equistone.
EQT is a leading alternative investments firm with more than €50 billion in raised capital across 28 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than €19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
UDG is a specialized agency group for digital marketing services and communications in Germany. Headquartered in Hamburg, the company focuses on the concept and design of UX (user experience) projects as well as their technological implementation and digital architecture. Under EQT’s ownership, UDG has integrated eleven formerly independent agencies into a leading group with one brand, made two successful add-on acquisitions, and strengthened the management team.
EQT was advised by an Orrick team led by Munich-based M&A and private equity partner Thomas Schmid, who previously advised EQT on the acquisition of UDG in 2011 and UDG on the sale of its media & performance marketing activities to NYSE-listed agency network Omnicom Group in August 2018.
The team also included partners Christoph Rödter (M&A and private equity, Munich), Stefan Schultes-Schnitzlein (tax, Düsseldorf), and Till Steinvorth (antitrust, Düsseldorf), and associates Adrian Dengler, Verena Schwarz, Karl Ehrenberg (all M&A and private equity, Munich) and Julius H. Schradin (antitrust, Düsseldorf).