Partners Group, a global private markets firm, has, on behalf of its clients, agreed to acquire a significant minority stake in Swiss watchmaker Breitling from CVC Capital Partners Fund VI and management. Closing of the transaction is subject to approval by the relevant competition authorities.
Partners Group will partner with CVC Capital Partners and management to further accelerate Breitling’s growth. Key value creation initiatives include growing direct-to-consumer sales channels, expanding Breitling’s own retail network, particularly in Asia and the US, and continuing to improve operational efficiency. In line with Partners Group’s entrepreneurial governance approach, the firm’s co-founder Alfred Gantner will join the board of Breitling.
Bär & Karrer acts as legal advisor to CVC and Breitling in this transaction. The team is being co-led by Christoph Neeracher (pictured top left) and Raphael Annasohn (pictured top right) and includes Luca Jagmetti, Lukas Bründler, Arnold Romero and Lazar Lepir (all m&a), Susanne Schreiber and Elena Kumashova (both tax), Ralph Malacrida, Micha Schilling and Janine Wüst (all financing) as well as Mani Reinert and Tobias Rebmann (both antitrust).
Niederer Kraft Frey acted as legal counsel to Partners Group. The NKF team was led by M&A partner Ulysses von Salis (pictured left), working with partner Philippe A. Weber, associates Katalin Siklosi, Shu Bernet-Zhang, Binderiya Gan-Ayush, Julia Tolstova, Alessandro Stanchieri and junior associates Dominique Sunitsch,
Thomas von Gammeren, Samuel Noser (all m&a) and senior associate Oliver Zbinden (real estate).