Latham & Watkins LLP has advised Hg on the sale of Eucon. The purchaser is VHV Vereinigte Hannoversche Versicherung a.G. The parties have agreed not to disclose the financial details.
Eucon is a leading provider of best-in-class information and data-based systems for efficient product management in the automotive aftermarket. Customers include all relevant car manufacturers and suppliers, as well as a variety of workshop chains. For insurers, Eucon digitalizes claims management and is one of the market leaders for digital platform solutions for data and document processing. In addition, Eucon offers digital solutions for the real estate industry for efficient and transparent invoice management.
Hg is Europe’s leading software investor. Based in London, Munich and New York, Hg has over USD 30 billion funds under management, for some of the world's leading institutional and private investors.
A team led by private equity partner Oliver Felsenstein advises Hg regularly on transactions, most recently on the acquisition of a majority stake in F24 in July this year.
Latham advised Hg in the transaction with a team led by Frankfurt partner Oliver Felsenstein, with counsel Christina Mann and associates Ku-Hyun Baek, Sophia Probst. Advice was also provided on tax matters by Munich partner Stefan Süß and associate Verena Seevers, on antitrust matters by Brussels partner Sven Völcker, Frankfurt partner Max Hauser and associate Anne Haas and legal analyst Mirko Töpfer.