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Binder Groesswang Advises Enact on Management Buyout of Waagner-Biro Subsidiary

Binder Groesswang Advises Enact on Management Buyout of Waagner-Biro Subsidiary

Austria
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Binder Groesswang has advised British private equity fund Enact on backing the management team of Qualter, Hall & Company Limited in its buyout of the business from the insolvency estate of Waagner-Biro AG. Womble Bond Dickinson advised Enact on matters of English law. Kosch & Partner advised Waagner-Biro.

The transfer of shares took place in March 2019, and the transaction has now closed, following the establishment of a new fund in England.

As Binder Groesswang reports, “the insolvency of the Waagner-Biro group was one of the largest-scale insolvencies in Austria in recent years. Waagner-Biro, an old-established Austrian company founded in 1854, was known in particular for its participation in highly-publicized projects such as the Louvre Abu Dhabi, the dome of the Reichstag building in Berlin, the Sydney Opera House, and the Elbe Philharmonic Hall in Hamburg.” 

Qualter, Hall & Company Limited was established in England in 1860. Its activities include projects such as the construction of the Sean O’Casey Pedestrian Bridge over the Liffey River in Dublin and the glass roof of the Great Court of the British Museum in London. 

The Binder Groesswang team was led by Partner Gottfried Gassner and Attorney Georg Wabl and also included Associate Markus Sacherer.

The Kosch & Partner team was led by Partner Michael Lentsch.

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