Ashurst advised HF Private Debt as lender on the financing of the acquisition of Sematell GmbH (Sematell) by funds advised by PINOVA Capital GmbH (PINOVA). PINOVA acquires the majority stake in the leading AI-based response management software provider from IMCap. The parties have agreed not to disclose the terms and conditions of the financing.
Sematell is the leading specialist in AI-based response management software for text-based customer service in the German-speaking region. The company was founded in 2000 in Saarbrücken as a spin-off of the German Research Centre for Artificial Intelligence, one of the world’s leading research institutions in the field of artificial intelligence. Sematell has been part of the portfolio of Düsseldorf-based investment company IMCap since 2016 and has more than tripled sales to a double-digit million figure since then. With PINOVA’s investment, the company is entering its next growth phase. Based in Munich, the independent private equity firm PINOVA invests in high-growth technology companies in the German-speaking region.
HF Debt GmbH with headquarters in Hanover is the exclusive advisor of HF Private Debt Fonds, SCSp and HF Private Debt Fonds II SCSp. Both funds are providing private debt financing to small and medium-sized companies. With a clear focus on the German-speaking region, HF Private Debt invests in well established companies. Typical financing venues are growth financing, corporate successions and private equity backed buyouts.
The Ashurst team was led by partner Dr Matthias Weissinger. He was assisted by transaction lawyer Ariana Fazlic (both Global Loans, Munich).
Ashurst’s German banking and finance practice advises both banks and alternative lenders, private equity investors and companies on domestic and cross-border acquisition, real estate, asset and infrastructure / project finance as well as on financial restructuring and corporate lending.
