Latham & Watkins LLP advised Hg on its investment in Serrala. As part of the transaction, Serrala’s CEO Sven Lindemann and existing investor, Waterland, will remain as significant minority shareholders in the business. The terms of the transaction have not been disclosed and completion is subject to customary closing conditions.
Serrala is a global financial automation and B2B payments software company with more than 700 employees. Serrala is a fast-growing innovator with more than 2,800 global customers including more than 100 of the S&P 500 companies.
Hg is a leading investor in software and services with over US$30 billion funds under management. Based in London, Munich, and New York, Hg has a portfolio of more than 35 software and technology businesses, worth around US$70 billion aggregate enterprise value, with over 50,000 employees globally.
A Latham team led by private equity partner Oliver Felsenstein regularly advises Hg on high-profile transactions, including its investment in AUVESY GmbH in April this year.
The Latham team was led by Frankfurt private equity partner Oliver Felsenstein, with associate Maximilian Platzer, partner Susanne Decker, associates Sönke Bock, Ku-Hyun Baek, and Dominik Waldvogel. Advice was also provided on corporate matters by San Francisco counsel Arielle Singh, Düsseldorf associate Katharina Intfeld, Los Angeles associate Matthew Stern, and New York associates Julian Azran and Stephany Yang; on tax matters by Munich partner Stefan Süß and Hamburg associate Verena Seevers; on regulatory matters by Frankfurt counsel Thies Deike; on intellectual property matters by Frankfurt partner Susan Kempe-Müller and associate Pia Sösemann; on antitrust matters by Frankfurt partner Max Hauser, Hamburg counsel Jana Dammann de Chapto, and Frankfurt associate Nicolas Jung; on finance matters by Frankfurt partner Alexandra Hagelüken and counsel Cora Grannemann; on European banking matters by Frankfurt partner Axel Schiemann; on employment matters by Munich associates Kristina Steckermeier andChristian Strauß, New York associate Megan Alessi, and Chicago associate Laura Waller; on data security matters by Frankfurt associates Wolf-Tassilo Böhm, and Jonas Kraus, and Washington, D.C. associate James Smith; on litigation matters by Frankfurt counsel Mathias Fischer; and on compliance matters by Hamburg associate Stefan Bartz.