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Allen & Overy advises Riverside on the acquisition of Dastex

Allen & Overy has advised private equity investor The Riverside Company (Riverside) on the acquisition of Dastex Reinraumzubehör GmbH & Co. KG (Dastex), a leading specialized independently owned cleanroom garment & consumables distributor in Europe.

Founded in 1979 in Germany, Dastex has grown to become a European market leading provider of both third-party brand and proprietary garments and consumables for cleanrooms in Germany, Austria and Switzerland with a strong foothold in the Benelux and a growing pan-European presence.

The company, headquartered in Muggensturm in Baden-Wuerttemberg, has grown rapidly in recent years, driven by its unique technical know-how and R&D capabilities, comprehensive product assortment and excellent customer service, meeting strong demand from the pharmaceutical and semiconductor industries. The closing of the deal is subject to customary approvals by the competent regulatory authorities. The parties have agreed not to disclose the purchase price.

In parallel with the acquisition of Dastex, Riverside signed a definitive agreement to acquire Vita Verita, a leading player in the Swedish market, which will be a strong addition to the Dastex platform and further expand the company’s geographic, product and service coverage.

Riverside is a global investment firm focused on being one of the leading private capital and credit options for investors, business owners and employees at the smaller end of the middle market by seeking to fuel transformative growth and create lasting value. Since its founding in 1988, Riverside has made more than 960 investments. The firm's international private equity and flexible capital portfolios include more than 150 companies.

The Allen & Overy team was led by partner Dr Astrid Krüger together with associate Cornelia Tu and comprised furthermore partner Dr Hendrik Röhricht (all Corporate/M&A), counsel Eda Zhuleku (Life Sciences Regulatory, all Munich), senior associate Laura Reuther, associates Alan James-Schulz (both  Frankfurt) and Florian Preinfalk (Munich, all Corporate/M&A).

In addition, financing advice was provided by partner Thomas Neubaum (coordination), counsel Dr Jan-Hendrik Bode as well as associates Can Altan (all Frankfurt) and Hans-Joachim Jähnichen (Munich, all Banking & Finance).

The team also included partner Dr Heike Weber and associates Dr Manuel Köchel and Sören Rathjens (all Tax); partner Peter Wehner (Pensions), counsel Dr Sebastian Schulz and associates Anne Pelzer (all Frankfurt), Merle Herrmann (Hamburg, all employment) and Dr Sven Gunkel (Frankfurt, Pensions); senior associate Anna Kräling and associate Katharina Jünemann (both IP); senior associate Catharina Glugla (Data Protection, all Düsseldorf); counsel Dr Daniel Bolm, associates Carl-Philipp Höpner (both Hamburg) and Hauke Jung (Frankfurt, all Real Estate); partner Dr Udo H Olgemöller, senior associate Stefanie Günther, associates Dr Stephan Bühner and Dennis Jurdt (all Public Law, all Frankfurt) as well as partner Dr Börries Ahrens, senior associate Heiner Mecklenburg and associate Dr Naemi Czempiel (all Antitrust, all Hamburg). Furthermore, an Allen & Overy team in Budapest advised on Hungarian law issues.

Allen & Overy has already advised Riverside on various transactions, most recently this year on the acquisition of virtual cloud solutions, early last year both on the acquisition of GFP and on the sale of the REPA group, 2021 on the sale of its shareholding in ACTINEO and on the Bike24 IPO as well as in 2019 on its investment in Toolport.