Dentons announced that it has advised Gortz Beteiligungsgesellschaft in the company's obtaining of investment from AFINUM Management.
The Hamburg-based Gortz Group is a highly successful retailer of "premium and quality" footwear, with approximately 3200 employees and 170 branches in Germany and Austria. The Munich-based AFINUM acquired a minority share of 40 percent for an undisclosed amount -- which Gortz will use as capital to fund expansion. Dentons announced that the deal should conclude by the end of May, assuming it meets with approval of the German competition authorities.
In a statement released by Dentons, the firm explained that Gortz Beteiligungsgesellschaft is a trust vehicle established by Dentons Partner Andreas Ziegenhagen to facilitate the search for partners for Gortz on a fiduciary basis. Since summer 2013 Gortz Beteiligungsgesellschaft has held a majority share in Gortz. With the successful conclusion of this transaction the fiduciary arrangement with Ziegenhagen will cease. His restructuring and transaction team, with Counsel Detlef Spranger playing a leading role, advised Gortz Beteiligungsgesellschaft before and during the trusteeship and in the course of the entire transaction process. In addition to Ziegenhagen and Spranger, Dentons Partner Daniel Marschollek, Counsel Constantin Rehaag, and Associates Judith Specht and Jakob Pickartz played a role.