Hogan Lovells advises Teufel Group on its refinancing

The achieved refinancing was significantly higher than the existing debt of the Teufel Group, allowing for added flexibility in the future.

Berlin-based brand Teufel is a leading European provider of audio equipment and is active in the direct to consumer (D2C) segment. Teufel distributes its products through its online shops as well as seven flagship stores. Since the acquisition by Naxicap Partners in 2018, Teufel's growth in annual sales as well as EBITDA margins was in the double digits, proving an impressive development during this time.

Naxicap Partners is a long-standing client of Christoph Naumann. The French private equity firm is active in all sectors and focuses on mid-market leveraged buy-puts as well as growth capital. A team led by Christoph Naumann had already advised Naxicap Partners on the acquisition of Teufel Group in 2018.

Guillaume Raux of Naxicap Partners says:

"Christoph and his team have been very supportive and dedicated in structuring and implementing this refinancing, which is an important milestone for the Teufel Group and Naxicap. We are happy to continue the Teufel growth story as a majority shareholder, and the partnership with a successful management team."

Christoph Naumann says:

"We're delighted to have supported Teufel's management team and its shareholders to realize their tremendous success since 2018 and, at the same time, to support future growth and aid in building their market position as a leading D2C audio brand in Europe."

Hogan Lovells team for the Teufel Group

Frankfurt

Dr. Christoph Naumann (Partner), Matthias Strecker (Senior Associate) (both M&A);
Bianca Engelmann, Dr. Katlen Blöcker (Partners), Dr. Antonia Wolf, Clara Rego Calderón (Senior Associates) (all Finance);

Munich

Dr. Falk Loose (Counsel, Tax).