Munich family-holding SBKF sells shares in HEV hardware stores to hagebau group

SBKF Beteiligungs GmbH, together with other shareholders, sold its shares in the established HEV Bau- und Heimwerkermarkt group, based in Munich. Hagebau group succeeded in a competitive process against other strategic and finance investors. The parties agreed not to disclose the value of the transaction. Completion of the transaction is still subject to the approval of the German Federal Cartel Office.

A Pinsent Masons team, lead by partner Eike Fietz, provided extensive advised to SBKF in this complex transaction.

SBKF Beteiligungs GmbH, holding company of a number of Munich entrepreneurs, held 45% interest in HEV Heimwerkermarkt GmbH & Co. KG. HEV is a hagebau franchisee and operates 17 DYI stores under the name of hagebaumarkt in and around Munich. The group employs about 1,400 people. In 2014, it achieved a turnover of more than 200 million Euro.