Taylor Wessing advised Commerzbank in connection with the financing of the acquisition of Utimaco TS by INVISION and PINOVA

INVISION VII (“INVISION”), a leading mid-market investor focusing on succession solutions and growth financing, together with funds managed by PINOVA (“PINOVA“) and operational management, acquired Utimaco TS GmbH (“UTS”). The transaction represents a carve-out of UTS, a business unit of the Utimaco Group.

The financing of the acquisition as well as facilities for working capital purposes and for further organic and anorganic growth. The leading international law Firm Taylor Wessing lead by Frankfurt Finance Partner Ulf Gosejacob advised Commerzbank in connection with the financing of the acquisition.

About Utimaco TS

UTS, based in Aachen (Germany), is a global leader in mission-critical security software solutions, specializing in lawful interception of various forms of communication. With its Lawful Interception Management System, the company supports telecom providers in meeting legal requirements by providing a secure and reliable platform for the lawful surveillance of communication services. UTS was a business unit of the Utimaco Group and was put up for sale as it was considered non-core. As an independent company, UTS will continue to be led by its incumbent operational management.

About Commerzbank

With its two business segments – Corporate Clients and Private and Small-Business Customers –, Commerzbank, as a full-service bank, offers a comprehensive portfolio of financial services. It is the leading bank in the Corporate Clients Business in Germany and for the German Mittelstand and a strong partner for around 24,000 corporate client groups. Commerzbank transacts approximately 30% of Germany’s foreign trade financing. The Bank is present internationally in more than 40 countries in the corporate clients’ business – wherever its Mittelstand clients, large corporates, and institutional clients need it. In addition, Commerzbank supports its international clients with a business relationship to Germany, Austria, or Switzerland and companies operating in selected future-oriented industries. With more than €400bn assets under management, Commerzbank is also one of the leading banks for private and small-business customers in Germany. Under the brand Commerzbank, it offers a wide range of products and services with an omni-channel approach: online and mobile, via phone or video in the remote advisory centre, and personally in its around 400 branches. Under the brand comdirect, it offers all core services as a digital primary bank 24/7 and, as a performance broker, solutions for saving, investing, and securities trading. Its Polish subsidiary mBank S.A. is an innovative digital bank that serves approximately 5.8 million private and corporate customers, predominantly in Poland, as well as in the Czech Republic and Slovakia.

Legal advisors to Commerzbank

Taylor Wessing Germany: Lead Partner Ulf Gosejacob (Partner), Dr. Michael Beyer (Salary Partner), Korbinian Zellner (Associate) all Banking & Finance, Frankfurt; Rudi Hasenberg (Salary Partner), Tax, Frankfurt; Maria Weiers (Partner), Dr. Marcel Leines (Salary Partner), both M&A, Düsseldorf.