Therme Group Acquisition of Therme Erding: K&L Gates Advisory
Global law firm K&L Gates LLP recently advised Therme Group on their acquisition of Therme Erding, a major wellbeing destination, and the financing of the transaction. Macquarie Capital provided a €320 million loan for the acquisition, while an undisclosed amount of equity was also involved.
Therme Group, known for creating inclusive and widely-loved wellbeing solutions, is now expected to welcome over 3.5 million visitors annually across its portfolio. Therme Erding, originally founded in 1999 by the Wund family and managed by Jörg Wund, has grown to become the largest thermal spa in the world.
The team at K&L Gates, led by Munich partner Martina Ortner, played a crucial role in facilitating this acquisition. This involved various aspects such as due diligence, contract drafting, and eventually completing the transaction. The Corporate practice at K&L Gates is renowned for its expertise in handling domestic and international transactions with hundreds of lawyers spread across five continents.
Ortner expressed her pride in being part of this significant transaction, emphasizing the impact it will have on the wellbeing industry. The team also included experts in finance, real estate, and antitrust law, showcasing the breadth of K&L Gates’ capabilities in facilitating complex deals like this one.
Overall, the collaboration between K&L Gates and Therme Group highlights the ongoing growth and innovation in the global wellbeing sector, with this acquisition marking a major milestone in the industry.
