Milbank LLP advised Afinum Management (“Afinum”) and the other minority shareholders on the sale of Kappa optronics GmbH (“Kappa”), a leading defense optronics and vision systems provider to Theon International Plc (“Theon”), a Greece-based vision and imaging systems provider. The transaction is subject to regulatory approvals.
Afinum, an independent investment company managed by its owners, with offices in Munich, Frankfurt and Zurich, specializes in investments in successful medium-sized companies.
Kappa was founded in 1978 and is headquartered in Göttingen. The company provides industry-leading solutions in air-to-air refueling and land-based driver-vision enhancement.
Theon develops and manufactures night vision and thermal imaging systems for defense and security applications with a global footprint. Theon has been listed on Euronext Amsterdam since February 2024.
The Milbank team was led by partner Leopold Riedl (Corporate/M&A) and included partners Matthias Schell (Tax) and Alexander Rinne (Antitrust), as well as associates Josephine Schuster, Lukas Krogmann, Hendrik Gäbler (all Corporate/M&A), Nikolas Wolf (Tax) and Jan Maas (Antitrust).
