April 13, 2021
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
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).