Latham & Watkins LLP advised CDH Investments (CDH) on the merger of WOW Tech Group with Lovehoney. The newly formed Lovehoney Group will also include Amorana, acquired by Lovehoney in September 2020. Lovehoney Group will be led by WOW Tech CEO Johannes Plettenberg and have operations across EMEA, APAC and North America, supported by over 730 employees. The parties have agreed not to disclose financial details.
Following the merger, Telemos Capital will retain a majority investment in the Group, with CDH, Lovehoney co-founders Neal Slateford, Richard Longhurst and Johannes Plettenberg retaining minority positions. Each will hold positions on the Board of Directors of the Group.
Established in Bath in 2002 by Richard Longhurst and Neal Slateford, Lovehoney is a market-leading pleasure products brand. In 2018 Telemos Capital became the majority owner of Lovehoney.
WOW Tech is one of the leading companies in the sexual wellness industry and a provider of premium products for consumers’ love lives.
CDH, with offices in Singapore, Hong Kong and Beijing, manages assets of approximately US$26 billion. The company has partnered with over 150 companies, most of them leaders in a range of consumer and healthcare industries.
A Latham team led by partner Dr. Rainer Traugott previously advised CDH on the acquisition of its stake in WOW Tech Group in early 2020.
Latham’s team was led by Munich corporate partner Rainer Traugott and counsel Hanno Witt, with Frankfurt partner Susanne Decker and Munich associate Hendrik Ley. Advice was also provided on finance matters by Munich counsel Ludwig Zesch and Hong Kong associate Tian Lin; and on tax matters by Munich counsel Ulf Kieker and associate Nicole Haaf.