GRUENDELPARTNER advises TGFS on the sale of its shares in Pendix GmbH to the Johnson Electric Group

The Johnson Electric Group, a leading global supplier of electric motors, actuator components, drive sub-assemblies and related electromechanical components, has announced the acquisition of Pendix GmbH (Zwickau). As part of this transaction, all other investors, apart from the Technology Start-up Fund Saxony (TGFS), have sold their shares. The founders retain a minority stake.

Pendix GmbH was founded in 2013. In the same year, the Technology Start-up Fund Saxony (TGFS) came on board as a seed investor. Subsequently, the company was supported by the TGFS and three other financial investors, enabling it to establish itself as a major player in the cycling market. This led to the completion of the 100% acquisition of VSC Bike GmbH at the start of the year.

GRUENDELPARTNER provided legal advice to the investors in connection with the sale of the shares.

GRUENDELPARTNER’s M&A, Venture Capital and Private Equity practice group is one of the most experienced and best-staffed advisory units in Central Germany and supports investors and entrepreneurs through all stages of development, particularly in company formation, business development, corporate financing and all exit processes.