Kirkland & Ellis advised the shareholders of Jack Wolfskin, including affiliates of Bain Capital Credit, H.I.G Bayside Capital and CQS on the agreement to sell the active outdoor brand to Callaway Golf Company, for EUR 418 million. The acquisition, announced on 30 November 2018, is expected to close in the first quarter of 2019, subject to regulatory approvals and other customary closing conditions. On completion, the transaction will be the largest acquisition in the premium active lifestyle segment.
The transaction marks another milestone in Kirkland’s association with Jack Wolfskin and its shareholders, having previously advised the coordinating committee of its first lien lenders on the financial restructuring of the outdoor brand’s EUR 365 million debt in 2017.
The cross-border Kirkland team was led by transactional partners Rory Mullarkey and Carl Bradshaw in London and Joerg Kirchner, Volkmar Bruckner and Thomas Krawitz in Munich. The team also included corporate associates Annette Baillie, Cillian Moynihan, Anne Stroude and Fernanda Langa, tax partners Oded Schein and Dulcie Daly and associates Daniel Hiemer and Sam Trowbridge, antitrust partner Paula Riedel and associate James Parkinson, debt finance partner Wolfgang Nardi and associate Alex Laengsfeld, and restructuring partners Partha Kar, Kon Asimacopoulos, Leo Plank and Wolfram Prusko and associate Josef Parzinger.