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Dastex continues its expansion strategy in Europe

Published Date
Oct 11 2024
A&O Shearman has advised Dastex Group GmbH (Dastex), a portfolio company of private equity investor The Riverside Company (Riverside), in connection with the acquisition of pure11 GmbH (pure11) by an affiliated European fund of Riverside (REF).

The investment is the third add-on in 16 months to Riverside’s portfolio company Dastex, a specialized cleanroom garment and consumables distributor in Europe, headquartered in Muggensturm, Baden-Württemberg. Closing of the deal is subject to customary approvals by the competent regulatory authorities. The parties have agreed not to disclose the purchase price.

Founded in 2007, pure11, through third-party brand distribution as well as its proprietary brand CELOS®, offers a broad product portfolio including gloves, wipes, disposable garments, and swabs. The company, headquartered in Grünwald, Germany, primarily serves customers from the pharmaceutical and semiconductor industries, but also optical glass, automotive, and pharmacies.

Riverside is a global investment firm focused on being one of the leading private capital and credit options for investors, business owners and employees at the smaller end of the middle market by seeking to fuel transformative growth and create lasting value. Since its founding in 1988, Riverside has made more than 1.000 investments. The firm's international private equity and flexible capital portfolios include more than 140 companies. Riverside Europe is an integral part of Riverside’s extensive global network, which has been active in Europe since 1989.

Riverside acquired Dastex and its first add-on Vita Verita mid-2023 and was also advised by A&O Shearman. Continuing its buy-and-build strategy, the company added AET, a leading independent player in Norway, in April 2024. The acquisition of pure11 marks another step towards building a leading European platform in cleanroom contamination control, well-positioned to grow organically and via acquisitions. Dastex serves the resilient and growing cleanroom industry, helping customers in pharmaceuticals, life sciences, semiconductor and other high-tech industries to meet ever stricter quality and regulatory standards.

The A&O Shearman team was led by partner Dr Astrid Krüger together with senior associate Cornelia Tu (both corporate/M&A) and comprised furthermore counsel Eda Zhuleku (life sciences regulatory, all Munich), associates Tiago RittnerSophia Braun and Florian Preinfalk (all corporate/M&A, all Munich).

The team also included partner Tim Drach and associate Niklas Knieß (both tax); senior associate Laura Reuther (corporate/M&A, all Frankfurt); partner Dr Börries Ahrens and associate Dr Katharina Hillmer (both antitrust, both Hamburg); partner Peter Wehner and senior associate Dr Sven Gunkel (both pensions, both Frankfurt), senior associate Merle Herrmann and associate Houssein Kahin (both employment, both Hamburg); partner Thomas Neubaum, counsel Dr Jan-Hendrik Bode (Frankfurt) and associates Hans-Joachim Englert (Munich) and Ann-Kathrin Ludwig (Frankfurt, both banking & finance); partner Dr Udo H. Olgemöller and senior associate Dr Stephan Bühner (both public law, both Frankfurt); partner Catharina Glugla and associate Pascal Yves Schroeder (both data protection, both Düsseldorf); partner Anna Masser (arbitration, Frankfurt); senior associate Anna Kräling and associate Katharina Jünemann (both IP/IT, both Düsseldorf) as well as associate Hauke Jung (real estate, Hamburg).

A&O Shearman has already advised Riverside on various transactions in Germany: on the acquisition of Dastex and Vita Verita as well as of Gastromatic last year, in 2022 both on the acquisition of GFP and on the sale of the REPA group, 2021 on the sale of its shareholding in ACTINEO and on the Bike24 IPO as well as in 2019 on its investment in Toolport.