Evoco TSE III SCSp managed by Evoco Ltd agreed to acquire majority stakes in Frank Walz- und Schmiedetechnik GmbH, C.F.K. CNC-Fertigungstechnik Kriftel GmbH, Paul Beier GmbH & Co. KG, Modell Technik Formenbau GmbH, Werkzeugbau Laichingen GmbH and Dömer Ring from Gesco AG (XTRA:GSC1) for €27 million on December 21, 2020. The purchase price amounts to €27 million and is accompanied by a net cash inflow of €15 million, which is partially earmarked for reduction of liabilities and partially for acquisitions. In addition, Evoco TSE III SCSp assumes net liabilities, pension obligations and lease liabilities of in total approximately €28 million. The six companies generated a combined turnover of over €100 million in the year 2019. Closing for Paul Beier GmbH & Co. KG is subject to the granting of regulatory approval. The closing of the transaction is expected to take place for five of the six companies shortly after the signing of the contract. On December 22, 2020, barring the acquisition of Paul Beier GmbH & Co. KG all other portfolio companies are acquired by Evoco. Andrea Zwarg, Till Kosche, Fabian Badtke, Akos Bajorfi, Elmar Bindl, Martin Gliewe, Martin Haisch, Hannes Lubitzsch, Evelyn Schulz and Michael Schuhmacher of Noerr LLP acted as legal advisor to Evoco. Michael Brauer and Jan Odewald of BDO LLp acted as legal advisor to Evoco.