DKSH Holding AG agreed to acquire 80% stake in Terra Firma for $360 million on September 22, 2022. The remainder stake will be held by Terra Firma's existing management team. Niederer Kraft Frey advised Bank of America, acting as bookrunning mandated lead arranger, on the financing of DKSH Holding AG acquisition of Terra Firma.

The Niederer Kraft Frey team was led by partners Philip Spoerla and Philippe Weber. Frank Gerhard, Jürg Frick and Eduard De Zordi of Homburger AG acted as legal advisor to DKSH Holding AG. BofA Securities acted as financial advisor to DKSH.