Ashurst advised PINOVA Capital on the refinancing of the acquisition of adzLocal GmbH (adzLocal). Details of the transaction were not disclosed.
Hamburg-based adzLocal operates an innovative Marketing-as-a-Service platform. With an online-marketing-mix consisting of Google AdWords, conversion-optimized landing pages and call-tracking, the company supports over 2,000 clients in winning new customers. Founded in 2009, adzLocal currently has approx. 40 employees. PINOVA acquired the majority stake in adzLocal in June 2021.
Munich-based PINOVA Capital is an independent private equity firm investing in high-growth medium-sized companies in the industrial technology and information technology sectors in German-speaking regions. Founded in 2007, the company currently manages over €300m of assets via two institutional funds.
The Ashurst team comprised partner Dr Matthias Weissinger and transaction lawyer Ena Selimbegovic (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.
