Orrick advised Fonds Finanz Maklerservice GmbH, the largest financial intermediary pool in Germany, on the acquisition of 60% of the company shares by Hg, a leading software and services investor. Hg acquires the shares from the owners Norbert Porazik and Markus, who will in future hold 40% of the shares in Fonds Finanz and will continue to lead the development of Fonds Finanz as managing directors.
The partnership enables the broker pool to invest in attractive companies in order to massively expand its offer for its sales partners and to introduce forward-looking technologies.
With 28,000 sales partners, 420 employees and 150 regional directors, Munich-based Fonds Finanz is Germany's largest financial intermediary pool. Founded in 1996, the company generated total revenues of €192.5 million in fiscal year 2020.
Hg is a leading investor in software and services, focused on backing businesses that change how we all do business. Hg has funds under management of around $40 billion and is based in London, Munich and New York.
Fonds Finanz was advised by an Orrick team led by Munich-based partner Thomas Schmid, who regularly advises on large-volume international corporate transactions, particularly in the tech sector.
The Orrick team further included partners Stefan Schultes-Schnitzlein, Lars Mesenbrink and André Zimmermann, senior associate Verena Schwarz and associates Stefan Riedl, Martina Pfaffinger, Alexandra Marchl, Carsten Engelings and Julia Fabian.