MUNICH – Reed Smith has advised private equity fund ASC Investment S.à r.l. on the 100 per cent acquisition of Canon Deutschland Business Services GmbH and Canon Deutschland University Services GmbH from Canon Deutschland GmbH.

ASC Investment S.à r.l. is a financial investor with offices in Luxembourg and Munich, which specialises in the acquisition of medium-sized companies.

Canon Deutschland Business Services GmbH und Canon Deutschland University Services GmbH employ over 300 people at nearly 40 locations. The business focus is on professional document management and archiving services, document outsourcing services and document logistics solutions.

The new companies will continue to operate under the names CBS GmbH/CBS Universität GmbH. Additionally, ASC Investment S.à r.l. will keep all current employees and bring in an experienced management team to help with the future development of the company.

The Reed Smith team was led in Munich by Global Corporate Group partner Florian Hirschmann and counsel Silvio McMiken, and included associate Tobias Schulz (all M&A/Corporate) and partner Thomas Gierath (Tax).

The parties have agreed to not disclose the purchase price.