Berlin – SMP advised the VC investor Project A on its co-investment in the digital specialist for garden and house projects GartenHaus. The co-investment was realized with the private equity investment company 3i Group. Only recently the 3i Group invested in GartenHaus and became the majority shareholder in the Hamburg-based company. The investment and the operational expertise of Project A is intended to accelerate the further strategic expansion of GartenHaus in Europe. Project A received comprehensive legal and tax advice from a team led by SMP partner Martin Schaper.
"The co-investment of Project A and 3i once again emphasizes the increasingly close ties between venture capital and private equity. We are delighted to have advised Project A again on another co-investment with a major PE investor", says Martin Schaper.
Project A is one of the leading venture capital companies in Europe, based in Berlin and with representations in Munich and London. In addition to $500 M in assets under management, Project A provides its portfolio companies with a wide range of operational support services. This includes more than 110 employees from key areas such as software engineering, business intelligence, marketing, recruiting, and many more. In 2020 Project A was named Germany's best VC by Business Insider magazine. Project A was founded in 2012 and since then has supported more than 60 start-ups in 12 countries. The portfolio includes companies such as Catawiki, WorldRemit, Homeday, Spryker, sennder, KRY, Trade Republic, and Voi.
3i is a leading international private equity investment firm with two complementary businesses: private equity and infrastructure. The UK-based company focuses on core investment markets in Northern Europe and North America. 3i invests primarily in medium-sized companies, valued at 100-500 million euros, in the areas of business and technology services, consumer goods, healthcare and industry. The investor additionally supports international expansion plans through its broad network and decades of expertise.
The A-Z Gartenhaus GmbH (GartenHaus), according to its own statements, is the market-leading digital specialist for garden and house projects in Germany, Austria, Switzerland and the Netherlands. With its online shop opened in 2009 the company offers garden houses, saunas and terraces among others. GartenHaus is also one of the fastest growing companies in the industry. On request, GartenHaus GmbH handles the entire garden and home project including assembly, consultation, planning permission, foundations, maintenance and accessories. The service range also includes products made to measure and configurators allowing customers to design products individually. Gartenhaus, based in Hamburg, was founded in 2002 and is managed by Sebastian Arendt, Olivier Renaux.
SMP is a boutique law firm for tax and business law which is active in the core fields of Tax, Funds, Corporate, Litigation and Transactions. The attorneys and tax specialists at SMP represent a broad client base, which ranges from emerging technology companies and family-run SMEs to large corporations as well as private equity and venture capital funds. Founded in 2017, SMP has become one of the leading players for venture capital, private equity and fund structuring in Germany. The firm and its partners have been recognized nationally and internationally by JUVE, Best Lawyers, Legal 500, Focus and Chambers and Partners. Today, SMP has more than 50 experienced lawyers and tax specialists in three Offices in Berlin, Hamburg and Cologne.