Cross-border team advises MEGABAD on the acquisition of Le Monde du Bain and the formation of Swash Group

Global law firm Norton Rose Fulbright has advised MEGABAD, a company group majority-owned by FSN Capital, one of the leading Northern European private equity firms, on the acquisition of Le Monde du Bain (LMDB). The companies will merge under the umbrella of the new Swash Group, which will be led by Dr Hans-Jörg Dohrmann as CEO.

With the support of Norton Rose Fulbright, FSN Capital already acquired a majority stake in the MEGABAD Group in 2021, which is now expanding into France, Spain and Italy with the acquisition of LMBD, thereby taking an important step towards internationalisation. The Swash Group is pursuing the goal of establishing itself as a pan-European market leader in the digital bathroom and sanitary ware trade.

MEGABAD is a leading e-commerce retailer for bathroom and sanitary products in the DACH region, based in Kerpen. The company was founded in 1973 by the Stiller family, who are still involved as investors. LMDB is a French company based in Béziers that specialises in the bathroom market and operates in France, Spain, Italy, Germany and Austria.

FSN Capital headquartered in Oslo, is an investment advisory and private equity firm with over four billion euros in assets under management, specialising in investments in growth-oriented companies.

Norton Rose Fulbright advised FSN Capital on the acquisition of LMDB with an international team led by Munich partner Bernd Dreier and Hamburg counsel Malte Ingwersen (both corporate / M&A). "I am delighted that we were able to continue our successful cooperation with FSN Capital and MEGABAD on this important transaction. The acquisition of LMDB is an important milestone for all parties involved and the entire market, in which we were also able to make excellent use of the international strength of our law firm," commented Dreier.

In addition to Dreier and Ingwersen, partner Dr Tim Schaper (Hamburg, antitrust, Head of Antitrust and Competition Germany) and associate Nils Kruse (corporate / M&A, Munich) advised from the German side.

Furthermore, the firm's Paris office was involved in the transaction with partner Karine Montagut, Associate Mathieu de Korvin (both corporate / M&A), partner Antoine Colonna d’Istria (tax, EMEA Head of Tax), Associate Alexandra Bloch-Manikow (tax), Counsel Clement Monnet, Senior Associate Geoffroy Coulouvrat (both IT/IP) and Counsel Marie-Therese Eugenio (employment). Charles Bremner (corporate) advised from the firm's Hong Kong office.

Carlos Gerpe from FILS Legal advised on the Spanish law aspects, Juan Andrés Illharreborde from VEI Abogados advised on Chilean law and Andrés Aznarez from Posadas advised on Uruguayan law. The team was also supported by Isabell Hitzer from Astera Legal in advising on the financing.