Michael Taufner

Leveraged Buyouts – Public

• Ultra Electronics — Represented Cobham on the c. £2.57 billion recommended all cash acquisition of Ultra Electronics Holdings plc.
• CA Immo — Represented Starwood Capital on the intention to launch a Public Takeover Offer for CA Immobilien Anlagen AG.
• OSRAM — Bain Capital and Carlyle on the financing aspects of their public takeover offer for OSRAM Licht AG.
• STADA — €250 million of high yield notes in connection with the financing for the delisting tender offer pursuant to which Bain Capital and Cinven acquired additional shares in STADA Arzneimittel AG.
• STADA — €1.1 billion of high yield notes in connection with the financing for the public takeover of STADA Arzneimittel AG by Bain Capital and Cinven; to date the largest private equity transaction ever realized in the German market.

Leveraged Buyouts – Private

• Thyssenkrupp Elevator — €6.7 billion (equivalent) of high yield notes in connection with the €17.2 billion carve-out acquisition by Advent International, Cinven and RAG-Stiftung of the elevator division of ThyssenKrupp AG; the largest private equity buyout in Europe in a decade.
• IRCA — €750 million of high yield notes in connection with the financing for the acquisition of IRCA by Advent International.
• STADA — €350 million of high yield notes for general corporate purposes.
• STADA — €600 million of high yield notes in connection with the financing for the acquisitions by STADA Arzneimittel AG of certain healthcare assets from Takeda and the Walmark healthcare group from Mid Europa Partners.
• Diversey — €450 million of high yield notes in connection with the financing for the acquisition of Diversey by Bain Capital.
• ICBPI — €600 million of high yield notes in connection with the financing for three add-on acquisitions by ICBPI.
• ICBPI — €1.1 billion of high yield notes in connection with the financing for the acquisition of Istituto Centrale delle Banche Popolari Italiane (ICBPI) by Advent International, Bain Capital and Clessidra.
• Wittur — €225 million of high yield notes in connection with the financing for the acquisition of Wittur by Bain Capital.
• Kerneos — €350 million of high yield notes in connection with the financing for the acquisition of Kerneos by Astorg.
• SBB Serbia — €475 million of high yield notes in connection with the financing for the acquisition of SBB Serbia by KKR.

Refinancings

• Sani/Ikos — €350 million of high yield notes.
• STADA — €350 million of high yield notes.
• STADA — €1,385 million of high yield notes in connection with an exchange offer.
• Sani/Ikos — €300 million of high yield notes.
• Algeco — €175 million of high yield notes for general corporate purposes.
• STADA — €200 million of high yield notes for general corporate purposes.
• Algeco — €125 million of high yield notes in connection with a refinancing of Algeco, a portfolio company of TDR Capital.
• Nexi — Represented Advent International, Bain Capital and Clessidra in relation to a PIK financing in connection with their investment in Nexi S.p.A.
• Nexi — €2.6 billion of high yield notes in connection with a refinancing of Nexi, a portfolio company of Advent International, Bain Capital and Clessidra.
• Algeco — €1.4 billion (equivalent) of high yield notes in connection with a refinancing of Algeco, a portfolio company of TDR Capital.
• Merlin — Represented the underwriters in FTSE 250-listed Merlin Entertainments plc's offering of €200 million of high yield notes.
• Smurfit — €500 million of high yield notes in connection with a refinancing of FTSE 100-listed Smurfit Kappa.
• Travelodge — £390 million of high yield notes in connection with a refinancing of Travelodge, a portfolio company of GoldenTree.
• kp — €300 million of high yield notes and concurrent tender offers for existing high yield notes in connection with a refinancing of Kloeckner Pentaplast, a portfolio company of Strategic Value Partners.
• MEIF — £190 million of high yield notes in connection with a refinancing of MEIF Renewable Energy, a portfolio company of Macquarie Infrastructure and Real Assets.
• Smurfit — €250 million of high yield notes in connection with a refinancing of FTSE 100-listed Smurfit Kappa.
• Twin-Set — Represented the underwriters in the offering of €150 million high yield notes by Twin Set—Simona Barbieri S.p.A., a portfolio company of Carlyle.
• Samvardhana Motherson — Represented the underwriters in the offering of €500 million of high yield notes by Samvardhana Motherson Automotive Systems.
• Brakes — £200 million of high yield notes in connection with a refinancing of Brakes, a portfolio company of Bain Capital.

Initial Public Offerings

• Galderma Group AG — structuring and implementation of its IPO on the SIX Swiss Exchange.
• Nexi — Initial public offering of Nexi S.p.A., the largest IPO in Europe to date in 2019.

Special Situations and Credit Opportunities 

• Matalan — Advised an ad hoc committee of first lien noteholders on a recapitalisation of the Matalan Group.
• Olympic Entertainment — Advised an ad hoc group of bondholders on the ongoing restructuring of Olympic Entertainment Group.  
• Lebara — Advised an ad hoc group of bondholders with respect to an enforcement over the Lebara Group.
• HETA — Advised an ad hoc group of bondholders of HETA Asset Resolution AG (Hypo Alpe Adria) in the first restructuring of a financial institution under the new European banking regime, BRRD.
• Ideal Standard — Advised Ideal Standard International S.A., a portfolio company of Bain Capital, in connection with an exchange offer for its outstanding high yield bonds.
• ATU — Advised A.T.U Auto-Teile-Unger, a KKR portfolio company, in connection with a restructuring of its high yield bonds.

Debt Tender Offers

• STADA — €250 million unmodified Dutch auction tender offer.
• Kraft Heinz — $2.8 billion waterfall knock-out tender offer.
• Kraft Heinz — $1 billion waterfall tender offer.
• STADA — €274 million tender offer.
• kp — €480 million refinancing tender offers.
• R&R Ice Cream — Represented the dealer managers in €350 million refinancing tender offer.

Mergers & Acquisitions

• Sani/Ikos Group — Recapitalization and strategic partnership agreement with GIC.
• Atlas Crest Investment Corp in its $1.7 billion combination with Archer Aviation.
• Gazit-Globe Limited on the financing aspects of its recommended €1.4 billion offer for Atrium European Real Estate Limited.

Hausmaninger Kletter, Vienna, Austria

• Associate, 2009–2012