POELLATH advises Sovendus founders in connection with Paragon Partners’ majority stake in Sovendus
Founded in 2008 in Karlsruhe, Germany, Sovendus is now the leading provider of tools for online marketing of checkout sites in Europe with over 1,200 partners and approximately 120 employees in Germany, Austria, Switzerland, the Netherlands, Belgium, France, Spain, Poland, Italy, England and Sweden. In 2020, the company generated more than five million transactions. The core product, Sovendus SALES, connects stores through Sovendus’ closed voucher network, thereby generating reach, new customers and transactions. Sovendus SELECT enables its partners to generate direct revenue by marketing advantage offers on their checkout site. The generation of high-quality newsletter subscribers and marketing in the Sovendus newsletter distribution list complete the marketing portfolio.
Paragon is an owner-managed investment company that has invested in medium-sized companies in German-speaking countries since its foundation in 2004. The investment portfolio spans various sectors and currently includes 14 companies. Paragon is based in Munich and currently manages EUR 1.2 billion in equity.
POELLATH advised the Sovendus founders Oliver Stoll and Michael Kofluk on their re-investment within the context of the majority acquisition with the following team:
- Christian Tönies (partner, lead, M&A/VC, Munich/Berlin)
- Dr. Nico Fischer (Partner, Tax Law, Munich)
- Dr. Sebastian Gerlinger (counsel, M&A/VC, Munich/Berlin)
- Markus Döllner (senior associate, M&A/VC, Munich)
Sovendus and its shareholders were advised on the transaction by Robert W. Baird (M&A) and Paul Hastings (legal), and on the re-investment by POELLATH (legal) and Björn Söder of Parklane Capital (commercials). A team from Lupp + Partner (Legal) advised Paragon. On the Bregal side, Christopher Wolff, partner at Paul Hastings, advised on the sale.