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Latham & Watkins Advises KLAR Partners on Acquisition of ISS Kanal Services

April 13, 2021
German team represents European private equity company in the carve-out transaction.

Latham & Watkins LLP represented funds advised by KLAR Partners Limited (KLAR Partners) on the acquisition of ISS Kanal Services AG (ISS Kanal Services), a corporate carve-out from ISS Schweiz AG and Switzerland’s leading player within underground infrastructure maintenance (UIM). The parties have agreed not to disclose further details.

ISS Kanal Services offers UIM services in a resilient market across eight locations in Switzerland. The company’s services consist of UIM cleaning and maintenance through flushing and inspection, as well as UIM maintenance and repair. The company has a large and well-diversified customer base consisting of local municipalities, industrial customers as well as private and institutional property owners. With almost 300 employees, ISS Kanal Services is the largest UIM service provider in Switzerland.

KLAR Partners is a European private equity company focused on investments in companies operating in business services and light industrials. The companies in which KLAR invests each have an annual turnover of approximately €50-500 million and are headquartered in the Nordics, Benelux or DACH regions.

It was the first deal of KLAR Partners in the DACH-region.

Latham represented KLAR Partners with a team led by Munich corporate partner Rainer Traugott and counsel Hanno Witt, with associates Anja Schindler and Thomas Diekmann. Advice was also provided on regulatory matters by Frankfurt counsel Thies Deike, on tax matters by Munich partner Stefan Süß with Hamburg associate Verena Seevers, and on finance matters by Munich partner Christian Jahn. Advice on Swiss law was provided by a team from Walder Wyss, led by Alex Nikitine (Partner, Corporate/M&A), including Dominik Aerni (Senior Associate, Corporate/M&A) and Christian A. Schmid (Associate, Corpo-rate/M&A).