News
LARK advises Afinum and sequrio on three further acquisitions
sequrio GmbH, a portfolio company of Munich-based private equity investor Afinum, has acquired Althammer & Kill, Nextwork and DATATREE. With the addition of these three specialists, sequrio continues to build a leading technology-enabled platform for data protection, information security and cybersecurity in the DACH region through an integrative buy-and-build strategy.
Since its inception in 2025, sequrio has acquired six established businesses. Following the acquisitions of aigner business solutions, msecure and scope & focus, the addition of Althammer & Kill, Nextwork and DATATREE brings the group to more than 130 employees serving over 1,700 clients, primarily in Germany.
The Business Law Powerhouse LARK advised Afinum on its investment in sequrio and on all add-on acquisitions with Dr. Ludger Schult, Jennifer Blümlein and Nino Häberlein (Private Equity/M&A), Dr. Tobias Stuppi and Jakob Heimrich (both Tax), as well as Dr. Anselm Lenhard and Philipp Büchler (both Finance).
The labor law aspects of the transaction were covered by Dr. Marius Fritzsche of ELP and Ingo Sappa of Pusch Wahlig Workplace Law, while Benjamin Koch and Tim Schwarz of Lubberger Lehment advised on IP, IT and data protection matters.
LARK advises Eterno Health on the acquisition of Doc Cirrus
Eterno Health has successfully taken the next step toward growth by acquiring Berlin-based practice software developer and provider Doc Cirrus.
Doc Cirrus is joining Eterno Group, having served for five years as the certified regulatory backbone of Eterno’s AI-native practice management platform ‘ETERNO Cloud‘. By combining teams, experience, and product expertise, the two companies aim to build the largest cloud-based platform for outpatient healthcare in Germany.
Founded in 2022 by serial entrepreneurs Maximilian Waldmann and Frederic Haitz, Berlin-based company Eterno Health is building a leading cloud-based, AI-native practice management platform for outpatient care in Germany. The software automates administrative processes in medical practices through AI and system integration, reducing workload and making patient care more efficient.
Doc Cirrus, led by Dr. Torsten Schmale and Philipp Butscher, has developed the modern, open practice management software ‘inSuite‘ and an eHealth platform for medical practices and MVZs. More than 8,000 practitioners and millions of patients rely on solutions built on its technology.
Business Law Powerhouse LARK provided comprehensive advice to Eterno Health on this transaction with Max Hentrich, Dr. Daniel Gubitz, Dr. Daniel Epe, Franziska Lang, Fabienne Pflug and Albert Bachmann (all Corporate/M&A), as well as Dr. Tobias Stuppi and Dr. Julian Siller (Tax).
LARK advises Nic Group on its divestment of Eisunion
Nic Group, part of Orkla Food Ingredients, which in turn is part of the listed Orkla ASA, has completed the divestment of Eisunion GmbH to the Norwegian special situations’ private equity investor Jotunfjell Partners. Eisunion has been part of Nic Group for more than a decade and has established a strong position in the German gelato market.
Headquartered in Feucht near Nuremberg, Germany, Eisunion is a full-service supplier to ice cream parlours and cafés. The company offers more than 5,000 articles and serves approximately 2,500 customers across Germany.
Nic Group is a leading player of ice cream ingredients and accessories in Europe, with strong market positions in the Nordics, Benelux, the UK and Germany.
The Business Law Powerhouse LARK advised Nic Group on the divestment with Christine Schneemann (Private Equity/M&A) and Dr. Michael Berger (Restructuring & Special Situations; both co-lead), Dr. Ludger Schult (Private Equity/M&A) and Philipp Büchler (Finance) with assistance from Dr. Marius Fritzsche of ELP (labor law).
LARK advises Sazerac on the public takeover of Berentzen Group
US-based distilled spirits company Sazerac and Germany-listed Berentzen-Gruppe Aktiengesellschaft have today announced the conclusion of a business combination agreement, under which Sazerac will make a voluntary public takeover offer for all shares of Berentzen Group.
The Berentzen Group is a beverage company, which is broadly positioned in the segments of spirits, non-alcoholic beverages, and fresh juice systems. With well-known brands like Berentzen, Puschkin, Mio Mio, and Citrocasa the Berentzen Group is present today in more than 60 countries of the world.
Founded in 1850 and with over 175 years of heritage and history, Sazerac is one of the world’s largest distilled spirits companies with over 525 brands in its portfolio. Sazerac is also the steward of distilleries around the world, including Buffalo Trace Distillery in Kentucky, United States, Domaine Sazerac de Segonzac in Cognac, France, Paul John Distillery in Goa, India, and Hawk’s Rock Distillery in County Sligo, Ireland.
The Business Law Powerhouse LARK provides Sazerac comprehensive advice in connection with the public takeover with Dr. Tobias Nikoleyczik, Malte D. Krohn, and Nadja Crombach (all Public M&A), Dr. Tobias Stuppi and Jakob Heimrich (both Tax), as well as Dr. Anselm Lenhard and Philipp Büchler (both Finance).
Dr. Andreas Boos from BUNTSCHECK advised on antitrust aspects of the transaction and Dorsey & Whitney assisted with US aspects of the takeover offer with Anthony Epps.
When is inside information truly public? The CJEU just raised the bar
The CJEU's latest landmark ruling on the disclosure of inside information raises questions in the field of stock corporation and capital markets law.
Our Partner Malte D. Krohn, an expert on the subject, answers three questions concerning the judgement:
1. What has the CJEU changed with its recent ruling?
In Brännelius (C-229/24, 16 April 2026), the CJEU held that inside information only becomes “publicly known” under Art. 7(1)(a) MAR once it has been disclosed through the formal ad hoc procedure under Art. 17 MAR.
Disclosure by a third party, or mere accessibility under national law, is not sufficient unless the issuer itself commissioned it. This sets a notably stricter and more formal standard than the one previously applied by BaFin, ESMA and most commentators.
2. What does the ruling mean for issuers in practice?
Information can reach a wide circle of market participants and still qualify as inside information under the ruling.
Only a proper ad hoc announcement by the issuer, or by a third party acting on its behalf, ends that status. Until then, the strict obligations attached to inside information continue to apply.
3. What should companies pay particular attention to now?
Until further clarification is provided by the CJEU or supervisory authorities, issuers should treat information as inside information until a formal ad hoc release has been made – even where it has already spread through other channels, such as news agencies.
This includes maintaining insider lists and observing confidentiality obligations right up to the formal disclosure.
Given the practical implications, this is a development issuers and market participants should keep a close eye on.
Malte has also published a guest column on this topic in the Börsenzeitung. You can find it here:
https://www.boersen-zeitung.de/recht-kapitalmarkt/wann-verliert-eine-insiderinformation-ihren-insidercharakter-weil-sie-oeffentlich-bekannt-geworden-ist
LARK welcomes Dr. Carl Alexander Strobel!
We are delighted to welcome Dr. Carl Alexander Strobel as an Associate in our Corporate/M&A practice. Carl advises German and international clients on venture capital and M&A transactions, in corporate and commercial law disputes and on all matters relating to company law.
It’s great to have you on board. A warm welcome to the LARKs, Carl!
LARK advises Oceanloop on investment by Blue Revolution Fund and Stolt Ventures
Oceanloop Management GmbH has successfully completed a €38.5 million equity financing round, led by Hatch Blue's Blue Revolution Fund and Stolt Ventures. The financing is complemented by a €32 million venture debt facility provided by the European Investment Bank (EIB).
Oceanloop is a German aquaculture technology company specializing in the sustainable production of premium marine fish. It is also the first company in Europe to successfully farm Giant Grouper. With the newly raised capital, Oceanloop intends to scale its aquaculture technology and further expand its production capacity.
Hatch Blue is a global investment firm focused on aquaculture. Stolt Ventures is the venture capital arm of Stolt-Nielsen, an international group with operations in logistics, distribution and aquaculture.
The Business Law Powerhouse LARK provided comprehensive legal advice to Oceanloop in connection with the equity financing round with Dr. Daniel Gubitz and Eva Schweigger (both Corporate Law/Venture Capital).
LARK advises DENWERIT GmbH on its sale to the accompio Group
The accompio Group, a leading managed security service provider in the DACH region, has acquired DENWERIT GmbH. Denis Werner, DENWERIT's current Managing Director, will continue to support the company's development as part of the accompio Group.
Founded in Munich in 2022, DENWERIT specialises in complex IT transformations, IT carve-outs and managed services. The company primarily supports mid-sized businesses in delivering complex transformation projects.
The accompio Group brings together several established IT service providers under one roof and continues to pursue an ambitious growth strategy. It provides services across the entire IT value chain and supports businesses in optimising their processes. With around 900 IT professionals, accompio operates from 22 locations across Germany, Austria, Hungary and Bulgaria.
The Business Law Powerhouse LARK provided comprehensive legal advice to DENWERIT on the transaction with Dr. Daniel Wied, Dr. Ludger Schult and Nino Häberlein (all Private Equity/M&A), as well as Dr. Tobias Stuppi and Jakob Heimrich (both Tax).
LARK advises FSN Capital on the investment in Der Bäcker Eifler and the formation of the BrotWert Group
Through the newly established BrotWert Group, FSN Capital has acquired a majority stake in the Frankfurt-based traditional bakery Der Bäcker Eifler. Following its investments in Bäcker Görtz in 2022 and Bäckerei Pappert in 2025, this marks the third family-owned bakery in the private equity investor's portfolio. Together, the three businesses will form the new group.
The BrotWert Group will become one of Germany's largest and leading bakery groups, with around 500 locations across Northern Bavaria and the Rhine-Main and Rhine-Neckar regions.
Founded in 1921, Der Bäcker Eifler has been family-owned for four generations. The Eifler family will remain invested in the business and continue to play an active role in its future development. Gerhard Eifler and Michael Eifler will continue to serve as Managing Directors.
The Business Law Powerhouse LARK provided comprehensive legal advice to FSN Capital on the transaction with Dr. Ludger Schult, Dr. Daniel Epe, Eva-Maria Bayer-Kotiers Chiara Niestroj and Nino Häberlein (all Private Equity/M&A), Dr. Anselm Lenhard and Philipp Büchler (both Finance), as well as Dr. Tobias Stuppi and Jakob Heimrich (both Tax).
LARK was supported by Dr. Lutz Hülsdunk and Amélie Eichholz of LSWF on real estate matters and by Dr. Marius Fritzsche and Anna Martin of ELP Rechtsanwälte on employment law matters. Dr. Benjamin Koch, Leonard Pietsch and Dr. Tim Schwarz of Lubberger Lehment advised on all IP/IT matters, while Dr. Andreas Boos of BUNTSCHECK advised on antitrust matters.
FSN Capital regularly relies on LARK's team led by Dr. Ludger Schult for its transactions. LARK also advised FSN Capital on the acquisitions of Bäcker Görtz and Bäckerei Pappert, having supported the investor's buy-and-build strategy from the very beginning.
Christin Stender christin.stender@lark.de