CMS advises Wow Tech in its 1bn business combination with Lovehoney
WOW Tech Group and Lovehoney, two providers for sexual wellness products, join forces. Together with Swiss brand Amorana – acquired by Lovehoney in 2020 – they now form the Lovehoney Group (LHG), valued at more than EUR 1 billion. The transaction combines WOW Tech’s powerhouse family of brands, including Womanizer, with Lovehoney’s international operations and brands. LHG’s lead investor is Telemos Capital, the majority owner of Lovehoney since 2018.
The combined group will be led by today’s WOW Tech Group CEO Johannes Graf von Plettenberg. Telemos Capital has retained a majority investment in the Group, with CDH Investments, the Lovehoney founders Neal Slateford and Richard Longhurst, Johannes Graf von Plettenberg and further investors led by Munich based Rigeto Unternehmerkapital retaining minority positions.
An international CMS team have advised WOW Tech Group and its shareholders on all legal and tax aspects of the transaction. CMS Switzerland team included partner Daniel Jenny (pictured), associates Florian Jung and Ferdinand Blezinger (all m&a), associate David Schuler (tax), and associate Thomas Urs Zweifel (real estate)
The newly created LHG will have global operations across EMEA, APAC and North America, supported by more than 730 employees and expects total revenues of more than USD 400 million for 2021.
