SIS GmbH (“SIS”) and ENDEGS GmbH (“ENDEGS”) have merged to form ETS Group – a leading expert for emissions reduction. SIS and ENDEGS are two leading service providers in the field of sustainable environmental protection, and together, the two companies intend to invest to open up new opportunities in international markets of the chemical and other industries with a need for sustainable exhaust gas cleaning.
Milbank LLP advised German Equity Partners V GmbH & Co. KG (“GEP V”), a private equity fund managed by ECM Equity Capital Management GmbH (“ECM”), on the merger of SIS and ENDEGS. The merger has been financed by GEP V which had already invested in SIS.
SIS, based in Amelinghausen, is active in the operation of mobile thermal exhaust gas cleaning systems and complementary equipment. The services and technologies offered by SIS play an important role for customers in reducing emissions (especially volatile hydrocarbons). SIS supports them in complying with even the strictest environmental regulations. With a portfolio of 28 mobile vapor combustion units, the company has the largest fleet in Europe.
ENDEGS, based in Pförring, has been offering self-developed and patented cutting-edge technology for safe, clean and thus sustainable degassing. For this purpose, the company has developed the world’s first trailer-mounted and autonomously operated fully equipped incinerator, thus making mobile degassing possible in the first place.
ECM is an independent investment company based in Frankfurt am Main. ECM acted or acts as manager or advisor of the private equity funds German Equity Partners I-V with total capital commitments of more than €1 billion. The funds invest primarily in established, medium-sized companies in the context of growth investments and ownership succession situations as well as corporate spin-offs.
The Milbank team that advised the ECM-managed private equity fund on the corporate, financing and tax aspects of the transaction (including the tax structuring), was led by partner Leopold Riedl (Corporate) and included partner Thomas Ingenhoven (Finance) and partner Matthias Schell (Tax) as well as special counsel Thomas Möller (Finance) and associates Johannes Wohlmuth, Dennis Amiri (both Corporate) and Arne Hammerich (Tax).
