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Peter Klormann

Partner at Sullivan & Cromwell

Advisor Lawyer

Germany

Deal Bio

Total Deals26

Valued Deals21

Total Value£ 52.04 B

Avg. Deal Size£ 2.48 B

Market Context

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16 Jul 2018|Germany|Railroad Equipment

Target: VTG AG

Bidder: MORGAN STANLEY CAPITAL PARTNERS

10 Service Providers

3 Target | 6 Bidder | 1 Vendor

40 Dealmakers

15 Target | 23 Bidder | 2 Vendor

£ 1.55 B

Value

10 Oct 2019|Germany|Renewable Energy Equipment

Target: PNE AG

Bidder: MORGAN STANLEY INFRASTRUCTURE PARTNERS

11 Service Providers

5 Target | 6 Bidder

32 Dealmakers

15 Target | 17 Bidder

£ 270 M

Value

21 Dec 2020|Germany|Telecommunications Equipment

Target: TELE COLUMBUS

Bidder: MORGAN STANLEY INFRASTRUCTURE PARTNERS

14 Service Providers

6 Target | 5 Bidder | 3 Vendor

46 Dealmakers

18 Target | 17 Bidder | 12 Vendor

£ 350 M

Value

11 Jan 2021|Germany|Entertainment

Target: DEAG DEUTSCHE ENTERTAINMENT AG

Bidder: APEIRON INVESTMENT

3 Service Providers

1 Target | 2 Bidder

5 Dealmakers

1 Target | 4 Bidder

£ 56 M

Value

24 May 2021|Germany|Commercial REITs

Target: DEUTSCHE WOHNEN AG

Bidder: VONOVIA SE

22 Service Providers

10 Target | 12 Bidder

78 Dealmakers

32 Target | 46 Bidder

£ 22.74 B

Value

28 Jul 2021|Belgium|Engineering Consulting

Target: AKKA TECHNOLOGIES

Bidder: ADECCO SA

11 Service Providers

2 Target | 8 Bidder | 1 Vendor

74 Dealmakers

51 Target | 23 Bidder | 1 Vendor

£ 1.73 B

Value

26 Oct 2021|Germany|Commercial REITs

Target: DEUTSCHE INDUSTRIE REIT

Bidder: CTP NV

9 Service Providers

3 Target | 6 Bidder

28 Dealmakers

2 Target | 26 Bidder

£ 675 M

Value

23 Nov 2021|Germany|Real Estate Services

Target: AAREAL BANK

Bidder: CENTERBRIDGE PARTNERS LP

13 Service Providers

5 Target | 8 Bidder

40 Dealmakers

9 Target | 31 Bidder

£ 1.56 B

Value

05 Apr 2022|Germany|Real Estate Services

Target: AAREAL BANK

Bidder: CENTERBRIDGE PARTNERS LP

13 Service Providers

4 Target | 9 Bidder

74 Dealmakers

12 Target | 62 Bidder

£ 1.68 B

Value

22 Jul 2022|Germany|Digital Services

Target: LYNQTECH

Bidder: HANWHA Q CELLS CO LTD

5 Service Providers

1 Target | 2 Bidder | 2 Vendor

32 Dealmakers

1 Target | 21 Bidder | 10 Vendor

n/a

Value

09 Nov 2022|Germany|Telecommunications infrastructure

Target: VANTAGE TOWERS

Bidder: GLOBAL INFRASTRUCTURE PARTNERS

18 Service Providers

3 Target | 10 Bidder | 5 Vendor

76 Dealmakers

11 Target | 54 Bidder | 11 Vendor

£ 11.57 B

Value

02 Dec 2022|Germany|Education Services

Target: STUDIENKREIS

Bidder: GOSTUDENT

4 Service Providers

1 Target | 2 Bidder | 1 Vendor

12 Dealmakers

1 Target | 10 Bidder | 1 Vendor

n/a

Value

24 Jul 2023|Germany|Auto Parts

Target: ZF CHASSIS MODULES GMBH

Bidder: FOXCONN TECHNOLOGY

7 Service Providers

3 Bidder | 4 Vendor

46 Dealmakers

36 Bidder | 10 Vendor

£ 432 M

Value

07 Aug 2023|Germany|Aerospace

Target: OHB SE

Bidder: KKR & CO

9 Service Providers

4 Target | 5 Bidder

67 Dealmakers

23 Target | 45 Bidder

n/a

Value

07 Nov 2023|Germany|Telecommunications Services: Other

Target: TELEFONICA DEUTSCHLAND

Bidder: TELEFONICA SA

12 Service Providers

5 Target | 7 Bidder

18 Dealmakers

9 Target | 9 Bidder

£ 1.71 B

Value

15 Nov 2023|Germany|Software

Target: EQS GROUP

Bidder: THOMA BRAVO LLC

8 Service Providers

4 Target | 4 Bidder

41 Dealmakers

4 Target | 37 Bidder

£ 341 M

Value

06 Jun 2024|United States|Investment Banking

Target: AVIDITI ADVISORS

Bidder: PIPER SANDLER COMPANIES

6 Service Providers

4 Target | 2 Bidder

23 Dealmakers

7 Target | 16 Bidder

n/a

Value

27 Jun 2024|Germany|Pharmaceuticals

Target: IDT BIOLOGIKA

Bidder: SK BIOSCIENCE

6 Service Providers

1 Target | 2 Bidder | 3 Vendor

37 Dealmakers

1 Target | 19 Bidder | 18 Vendor

£ 192 M

Value

11 Jul 2024|Germany|Auto Parts

Target: AUTO-KABEL GROUP

Bidder: FOXCONN INTERCONNECT TECHNOLOGY

4 Service Providers

1 Target | 3 Bidder

18 Dealmakers

1 Target | 18 Bidder

n/a

Value

11 Dec 2024|Germany|Apparel Retailers

Target: ABOUT YOU

Bidder: ZALANDO

8 Service Providers

3 Target | 5 Bidder

38 Dealmakers

13 Target | 27 Bidder

£ 988 M

Value

19 Mar 2025|Germany|Full Line Insurance

Target: VIRIDIUM GROUP (VIRIDIUM GRUPPE)

Bidder: BLACKROCK

30 Service Providers

3 Target | 14 Bidder | 13 Vendor

187 Dealmakers

16 Target | 136 Bidder | 35 Vendor

£ 2.94 B

Value

26 Mar 2025|Germany|Cable Television

Target: PROSIEBENSAT 1 MEDIA SE

Bidder: MFE-MEDIAFOREUROPE

18 Service Providers

7 Target | 11 Bidder

45 Dealmakers

17 Target | 28 Bidder

£ 759 M

Value

12 May 2025|Germany|Cable Television

Target: PROSIEBENSAT 1 MEDIA SE

Bidder: PPF GROUP

12 Service Providers

7 Target | 5 Bidder

33 Dealmakers

18 Target | 15 Bidder

£ 206 M

Value

12 Jun 2025|Germany|Pharmaceuticals

Target: CUREVAC

Bidder: JOH BERENBERG GOSSLER & CO KG

14 Service Providers

6 Target | 8 Bidder

71 Dealmakers

16 Target | 55 Bidder

£ 924 M

Value

23 Sep 2025|Germany|Machinery: Specialty

Target: NORMA (WATER MANAGEMENT BUSINESS)

Bidder: ADVANCED DRAINAGE SYSTEMS INC

15 Service Providers

5 Bidder | 10 Vendor

41 Dealmakers

14 Bidder | 27 Vendor

£ 741 M

Value

13 Oct 2025|Poland|Software

Target: PSI SOFTWARE SE

Bidder: WARBURG PINCUS LLC

10 Service Providers

5 Target | 5 Bidder

45 Dealmakers

19 Target | 26 Bidder

£ 613 M

Value