Hogan Lovells advises Waterland on the acquisition financing of BODE

Hogan Lovells advises Waterland on the acquisition financing of BODE

Press releases | 13 May 2026

Led by Dr Thomas Freund, global law firm Hogan Lovells has advised Waterland Private Equity on the acquisition financing of BODE, the world’s leading supplier of door and access systems for public transport.

Waterland is acquiring BODE from its current owner Schaltbau Group, which is majority-owned by Carlyle. As part of the transaction, BODE’s management team will invest alongside Waterland, underlining its strong commitment to the company’s long-term development.

Waterland is an independent European investment firm focused on supporting ambitious companies through targeted growth strategies. With more than 25 years of experience and a proven track record of over 1,300 investments, Waterland specializes in delivering sustainable growth through tailored buy and-build strategies.

The experienced banking and finance team led by Munich partner Dr. Thomas Freund regularly advises private equity firms on sophisticated and complex investments, and has, for the first time, provided Waterland with comprehensive advice on all legal and financial aspects of the financing of the partnership with BODE.

Partner Dr. Thomas Freund was supported by counsel Peter Gierl, senior associate Tiziana Daxenberger, business lawyer Stefanie Grosch and projects associate Julia Oelrich. Additional advice was provided by an Amsterdam banking and finance partner Wouter Jongen, counsel Annebeth Bleeker and Senior associate Viney Moerliesing.