King & Wood Mallesons (KWM) has advised the shareholders of ADCO Group – the global market leader in the mobile sanitary unit sector who operates the DIXI® and TOI TOI® brands – on the sale of a majority stake to funds advised by private equity advisory firm Apax Partners (Apax Funds).
The existing shareholders will retain a significant stake. The transaction is expected to close in Q4 2019, subject to regulatory approvals.
ADCO Group (ADCO) was founded about 45 years ago in Germany and operates the DIXI® and TOI TOI® brands providing portable toilet and sanitation equipment rental and services worldwide. From the simple toilet cabin to the luxury container with its choice of furnishings, ADCO can offer tailored solutions to a variety of customers. With around 49 operating companies and more than 4,000 employees, ADCO is represented in 28 countries worldwide. The company achieved a group turnover of approx. €360 million in 2018.
Apax Partners is a leading global private equity advisory firm. The Apax Funds invest globally in companies across four sectors (Tech & Telco, Services, Healthcare and Consumer) providing long-term equity financing to build or strengthen market leaders.
Apax will support the management with ADCO's growth plans. This will include strengthening the company’s portfolio in existing markets, as well as identifying and realising new areas for development. The partnership will enable ADCO to take the next step in developing the successful business model and investing even more in internationalisation and digitalisation.
The KWM team around Rüdiger Knopf already has a long-standing client relationship with ADCO. In this transaction, KWM provided comprehensive advice (M&A, commercial structuring, tax).
Advisors to the shareholders of ADCO Umweltdienste Holding GmbH (ADCO Group):
Dr. Michael Roos (partner), Markus Herz (partner), Hilke Schmitt (counsel), Dr. Laura Schumann (associate), Dr. Katrin Thoma (associate)
Daniel Ehret (partner)
Commercial Structuring / Tax
Rüdiger Knopf (partner), Markus Hill (partner), Viktoria Rosbach (associate)