Cleverciti Systems Completes Growth Funding Round
Baker McKenzie advised Cleverciti Systems GmbH on a 10 million euros growth funding round. New investor EnBW New Ventures joined the existing lead investor SPDG to support the international growth of Cleverciti Systems, a smart parking specialist.
Baker McKenzie advised Cleverciti Systems on all legal aspects of the transaction.
"This financing round is based on the strong global demand for Cleverciti's smart parking solutions. We were in the position to help our client enhance all legal considerations in order to boost the global expansion of Cleverciti's high precision overhead sensors", comments Dr. Michael Bartosch, Corporate/M&A-partner in the Industry Group Industrials, Manufacturing &Transportation.
Cleverciti Systems has developed a world-class, end-to-end solution for parking detection, guidance & monitoring for on-street and outdoor parking. The company is headquartered in Munich, Germany with offices in Chicago and the San Francisco Bay Area.
EnBW New Ventures GmbH provides venture capital to young companies that develop new business models and technologies for the converging energy, mobility and urban life markets.
SPDG is a single family office representing the Périer-D'Ieteren branch. It co-controls the D’Ieteren Group, together with the other D'Ieteren family members. Since 1805, the Group has developed strong brands mainly in the automotive industry.
Baker McKenzie's Corporate / M&A team regularly advises on domestic and international transactions and financings. Most recently, Baker McKenzie advised LKQ Corporation on the acquisition of the Stahlgruber GmbH, Sika on the acquisition of Faist ChemTec, Materialize NV on the acquisition of ACTech GmbH, Sulzer AG on the acquisition of Transcodent, Trimble on the acquisition of Müller-Elektronik, Tokheim Service Group on a strategic partnership with Kärcher, SPIE on the acquisition of LÜCK Group and ZF Friedrichshafen on the sale of the Cherry Group.
Legal advisor to Cleverciti Systems GmbH - Baker McKenzie:
Lead: Corporate/M&A: Dr. Michael Bartosch (partner, Munich)
Corporate/M&A: Berthold A. Hummel (partner, Munich), Dr. Tino Marz (senior associate, Munich), Hanna Lütkens (associate, Munich)
IP: Dr. Lothar Determann (partner, San Francisco), Fabian Boettger (associate, Munich), Dr. Markus Hecht (associate, Frankfurt)