Three law firms advise on SALTO´s acquisition of Gantner

King & Wood Mallesons, Herbert Smith Freehills and Garrigues have advised on Spain´s SALTO Systems´ acquisition of Gantner Electronic Austria Holding

SALTO Systems, a leading manufacturer of electronic access control solutions, has acquired Gantner Electronic Austria Holding GmbH.

The transaction was financed by a combination of the capital increase, bank financing and cash. The capital increase amounts to €125 million and has been subscribed by both existing shareholders such as Alantra (SP) and new investors such as Sofina (BE), Peninsula Capital (LUX), and Florac (FR). Financial investors will hold a combined 30% stake in SALTO, with the remainder retained by SALTO’s founding members and managers (60%) and private investors (10%).

SALTO is a leading manufacturer in electronic access control solutions with trusted customers in Education, Hospitality, Healthcare, Commercial, Working Spaces, Retail, Coliving & Purpose Based Student Accommodation and Residential, having one of the broadest product portfolios in access control worldwide.

According to Mergermarket, the acquisition has a value of €150 million.

Gantner is an Austrian company specialized in access systems, electronic locking and locker systems, cashless payment, cash register and billing systems, staff time recording systems as well as ticketing and management software for leisure facilities.

Part of what attracted SALTO to Gantner was their strong commitment to research and development. “The addition of Gantner to the SALTO portfolio offers a very bright future for our ability to continue to deliver the absolute best in electronic access control solutions,” said Javier Roquero, the Co-founder and CEO of SALTO.

Garrigues acted as legal counsel to SALTO with a San Sebastián office team led by Commercial partner Carla Frangoni and Tax partner Joseba Saez, together with Commercial principal associates Carlos Lasa and Gorka Esnal and Tax senior associate Jon Larrañaga.

King & Wood Mallesons advised Alantra on the capital increase with a team led by Corporate partner Roberto Pomares, together with Corporate/M&A senior associate Gonzalo Fernández.

Herbert Smith Freehills advised Peninsula Capital Advisors on the acquisition with a team formed by partner and head of Corporate/M&A and Private Equity Alberto Frasquet and partner and co-head of Corporate/M&A, Private Equity and Tax Nicolás Martín, together with M&A senior associate Marcos Fernández-Rico.