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Tuesday 10th April 2007

SJ Berwin advised AXA Private Equity on the acquisition of Flex Group from the US investor  GSO Capital Partners. The management of Flex Group invested alongside AXA Private Equity and will in the future hold a minority share in Flex. DZ Bank AG Deutsche Zentral Genossenschaftsbank provided the debt financing of the transaction.

Flex, headquartered in Steinheim/Murr, Germany is a leading manufacturer of high quality hand-held power tools, including grinders, polishers, saws and other equipment used primarily for specific niche applications in the professional metal-working, stone and concrete markets. In 2006, with 220 employees Flex realized a turnover of approximately EUR 60 Million.

Advisers AXA Private Equity

SJ Berwin LLP (Munich): Thomas Pauls, Dr. Christoph Brenner (Corporate), Gerald Thomas (Tax), Tilman Siebert (Competition Law); Associates: Dr. Frank Oschütz, Sabine Heinrich (Corporate), Christian Aigner (Tax), Dr. Golo Weidmann (Employment), Andreas Boos (Competition Law), Andreas Kirchner, Dr. Christopher Gadomski (Banking).

Baker Hostetler LLP (New York): (US aspects of the transaction): Chris Lange (Corporate), Tom Guida (IP); Associates: Doug Nevin (Corporate).

Advisers GSO Capital Partners

Wollmuth, Maher & Deutsch LLP (New York): Rory Deutsch, George Rudy; Associates: Ken Miles (all Corporate).

Lenesis Rechtsanwälte, Stuttgart: Dr. Achim Schäfer

Advisers DZ Bank

Ashurst: Dr. Tom Beckerhoff (Banking); Associates: Sebastian Schoon, Richard Schulze (all Banking).

For further information please contact:

Dr. Christoph Brenner, Partner on +49 89 890 81 384, email christoph.brenner@sjberwin.com

Aurelia Spivey, Business Development Manager on +44 (0) 20 7111 2060, email aurelia.spivey@sjberwin.com

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• With more than 200 corporate finance lawyers, the depth and breadth of expertise of our pan-European Corporate Finance Department is considerable.  We offer the complete range of corporate finance services, which extends to all aspects of domestic and cross-border M&A and buy-outs, private equity, equity capital markets, financial services and tax. 
  
  
• SJ Berwin was created and thrives as a leading-edge legal services business, focusing on the European and international market place. Our clients are sophisticated buyers of legal services, principally entrepreneurial companies and financial institutions, whom we advise on a comprehensive range of services including Corporate, Commercial, Real Estate, Finance, Reconstruction & Insolvency, Financial Services, Litigation, Employment & Pensions, EU & Competition and Tax.
  
  
• The private equity team has won a number of recent awards including:
    - "Fund Formation Team of the Year" 2006 at the Financial News Awards for Excellence in Private Equity Advisory Services,
    - "European Law Firm of the Year" 2004 -  2006 at the EVCA/Real Deals European Private Equity Awards,
    - "European Law Firm of the Year" (fund formation) 2001 - 2007 by subscribers to PrivateEquityOnline and Private Equity       International
    - "Private Equity Law Firm of the Year" 2004 -  2007 at the European Venture Capital journal awards 2004
    - "LBO Firm of the Year" 2004 at the Finance and Law Awards in Paris
  
  
• On 1 June 2005, SJ Berwin became SJ Berwin LLP, a limited liability partnership. SJ Berwin LLP or an affiliated undertaking has an office in Berlin, Brussels, Frankfurt, London, Madrid, Milan