NovitasFTCL advised the founders and management team of Avega on its management buy-out
|The founders and management team of Avega are pleased to announce they have successfully concluded an MBO. The transaction results in Avega remaining 100% owned by its management and allows it to continue building on its deep-rooted culture of high-quality, professional service.
The Avega Group is a Luxembourg-based provider of corporate services to private equity, real estate, debt, infrastructure and corporate investors. It was founded in 2006 by Stefan Lambert and Dr. Wolfgang Zettel both of whom will remain actively involved in the business.
The new management aims to build on the proven fundamentals of the founders to achieve continued and sustainable growth. “Our mission is simple: we help private equity houses to set up their European investments, and provide services throughout the whole life cycle,” says Stefan Ruppert. Adding that the preservation of Avega’s independence will ensure that clients will continue to be served according to the same standards, while the size of the business enables new clients to be onboarded seamlessly.
With a highly experienced workforce of 140, including 125 in Luxembourg, Thomas Weber says, “Our level of expertise ensures a quick turnaround in setting up structures.” Over the years, the Avega Group has added several businesses that specialise in tax, audit and liquidation services. In 2020 the Group expanded further by launching an alternative investment fund manager, Avega Capital Management, servicing private market clients.
The new roadmap will continue to emphasise a highly personal focus says Thomas Probst: “Today besides innovation and technology, a familiar and trusted working atmosphere with highly motivated staff is instrumental in enhancing our performance.”
Despite being regularly approached by private equity and competitors to sell the business, Stefan Lambert and Dr. Wolfgang Zettel supported the buyout believing it the best solution for staff, management and clients. Advised by NovitasFTCL, a London-based corporate finance boutique that specialises in M&A and capital raising, their decision is aligned with the company’s DNA and encompasses three key priorities: a family culture with a very low staff turnover, long-term relationships and high-quality service at every level.
Dr. Wolfgang Zettel, co-founder of Avega said:
“We all have been working towards a result where the business can stay in the hands of professionals well introduced to our clients and our other stakeholders. With the MBO we have achieved this objective allowing Avega to stick to its values also for the future and remain independent We are very proud to have achieved this outcome with the support of NovitasFTCL.”.
|Stefan Lambert, Co-founder of Avega commented:
“We had to overcome a complex situation in order to realize our investment. This required negotiating a new business relationship with a key client before undertaking the debt funded MBO. John Gilligan and Joe Singer worked closely with all of us and ensured we stayed focused on the ultimate objective, while diligently considering the interests of all parties involved. They were a major part in the successful realization of the MBO.”