Pinsent Masons drives €144m STS Group IPO

STS Group AG is one of the world's leading suppliers of interior and exterior parts for commercial vehicles. Its components are found in vehicles produced by leading commercial vehicle manufacturers and major international automobile manufacturers (OEMs) as Volvo Trucks, Daimler Trucks, Scania, IVECO, and FCA.

The business employs more than 2,500 employees worldwide and revenues of c.€425 million in 2017. The funds generated through the IPO are expected to be used for further expansion into China and North America.

Pinsent Masons has now acted on three of the ten IPOs to have taken place on the Frankfurt Stock Exchange this year. In February the firm advised Stemmer Imaging AG on its floatation, followed by the IPO of Cyan AG a month later. 

The Pinsent Masons team was led by Dr. Alexander Thomas, (Federführung, Partner, Kapitalmarktrecht) and comprised Natalie Stark (Associate, Kapitalmarktrecht), Linda Wüllner (Associate, Kapitalmarktrecht), Leif Herzog, LL.M. (Associate, Corporate/M&A); Dr. Sebastian Jördening (Associate, Corporate/M&A).

Dr. Thomas says:

“We are delighted to have been entrusted with this important transaction by STS Group AG. We have now completed three significant IPOs in Germany in less than six months which is a record we are very proud of.”

Earlier this year Pinsent Masons further-enhanced its German Corporate practice with the appointment of Dr. Thomas Peschke as Partner from KPMG Law.

McDermott Will & Emery acted as underwriters' counsel to the banks.

Noerr advised mutares AG as Corporate Counsel on stock corporation and capital market law and also accompanied the capital measures on the level of STS Group AG.