Herbst Kinsky advises STAR Capital on its majority stake in MYFLEXBOX
Herbst Kinsky advised STAR Capital Partners LLP on its majority shareholding in the corporate start-up MYFLEXBOX Austria GmbH, which was spin off from Salzburg AG für Energie, Verkehr und Telekommunikation, in the course of a capital increase. The closing of the transaction is still subject to foreign direct investment approval.
STAR Capital is a London, UK based private equity firm focused on developing strategic asset-based businesses in Western Europe. The PE firm was founded in 1999 and invests primarily in companies with an enterprise value between EUR 50 million and EUR 1 billion. Since its foundation, STAR Capital has invested approximately one and a half billion in 20 companies, comprising more than 70 acquisitions, including add-ons.
Founded in 2018 as a pilot project of Salzburg AG, the startup MYFLEXBOX develops smart lockers that enable parcels to be delivered, collected, returned and sent contactless and secure around the clock. The digital locker solution added another practical service to Salzburg AG’s portfolio and is an important building block for the development of smart city solutions. Together with strong partners, the company has become the leading player in the field of city logistics and smart city in the German-speaking region.
“The focus on an open Smart-Locker network in combination with clever software solutions creates a highly efficient logistics infrastructure for customers and parcel service providers that enables a reduction of CO2 and inner-city traffic,” says Philipp Gensch, partner at STAR Capital.
The Herbst Kinsky team was led on this transaction by Carl Walderdorff (Corporate/VC) with support from Leopold Gottsauner Wolf, Valentin Krenkel (both Corporate/VC), Christoph Ludvik (Employment Law), Valerie Mayer (FDI) and Irmgard Nemec (Corporate/VC).