Frankfurt office represented the EQT Mid Market fund in its agreement to sell Avenso, a market-leading multichannel player for affordable museum grade wall art, to LUMAS Art Editions GmbH.
On April 30, Willkie client EQT Mid Market fund announced that it has entered into an agreement to sell Avenso GmbH to LUMAS Art Editions GmbH, a company controlled by Marc Ullrich, co-founder of Avenso. Avenso has simultaneously agreed to divest the WhiteWall business to CEWE Stiftung & Co. KGaA.
Avenso is a market-leading multichannel player for affordable museum grade wall art in which EQT acquired a majority stake in 2013. The company is headquartered in Berlin, Germany, and operates brands WhiteWall and LUMAS. WhiteWall is the market leading high-end brand for customizable photo printing products serving art enthusiasts, professional photo experts and corporate customers. LUMAS is a market leading multichannel retailer for museum grade curated photo artworks and contemporary art.
The multidisciplinary Willkie deal team included partners Dr. Axel Wahl, Dr. Patrick Meiisel and Jan Wilms; national partner Dr. Bettina Bokeloh; and associates Andreas Feith and Dr. Stefan Bührle.