Milbank LLP advised DBAG Fund VII (“DBAG”), which is advised by Deutsche Beteiligungs AG, on the sale of Cloudflight Group to Partners Group and on an agreed reinvestment. The transaction, subject to regulatory approvals, is expected to close within the next four months.
As an investor and fund advisor, Deutsche Beteiligungs AG's investment focus has traditionally been on medium-sized companies with a particular focus on well-positioned companies with development potential. Assets managed or advised by the DBAG Group amount to approximately EUR 2.5 billion.
Cloudflight is one of the leading full-service providers for digital transformation in Europe. With more than 950 qualified employees in the areas of software development, cloud architecture, data science and strategic IT, Cloudflight enables the successful digitalization of its customers. In the process, Cloudflight's technology portfolio was further expanded through the integration of Cognostics, macio, Divante and mogree, and now offers customers an end-to-end service portfolio - from consulting services to the development of customized software and cloud native solutions to operations.
The Milbank team led by partners Michael Bernhardt and Leopold Riedl (both Corporate/M&A, Frankfurt) comprehensively advised DBAG on the corporate and tax aspects of the transaction. The team also included Matthias Schell (Tax, Munich), Johannes Wohlmuth, Sarah-Maria Resch, Steffen Post, Steven Buschle (all Corporate/M&A), Sebastian Trompler (Finance, all Frankfurt) and Jan Maas (Antitrust, Munich). The DBAG in-house team included Florian Döring and Carolin Keferstein.
