Cleary Gottlieb is representing HMD Partners and DIH Deutsche Industrie-Holding in their acquisition, together with Curzon Global Partners/IXIS AEW Europe, of German fashion retailer SinnLeffers AG from European department store group KarstadtQuelle AG. The purchase price of the transaction was not disclosed.
HMD Partners is a private equity firm based in West Palm Beach and London, specializing in retail, textile and consumer goods. DIH is a Frankfurt-based private equity firm with long-standing expertise in company and process optimization, restructuring and turn-around situations, particularly in industry and commerce.
SinnLeffers is one of Germany’s leading fashion retail chains, with net sales of €500 million in 2004 and approximately 4,400 employees in 51 outlet locations and 16 branded chains across Germany. KarstadtQuelle is Europe’s largest department store and mail order group.
Curzon Global Partners/IXIS AEW Europe is one of Europe’s leading property investment funds, headquartered in London with eight regional offices in Europe.