Clearwater acted as sole financial adviser to Carl Hanser Verlag GmbH & Co. KG on the sale of its shares in Der Hörverlag GmbH (DHV) to Random House GmbH, a subsidiary of Bertelsmann Group.
DHV, founded in 1993 in Munich, is one of the leading publishers of audio books in the German speaking area. The program includes more than 800 titles of literary classics as well as lyrical works e.g. acoustical implementations of 'Die Buddenbrooks', 'Harry Potter' or 'Der Herr der Ringe'. DHV releases approximately 120 new titles annually. One third of all DHV titles have been rewarded with prestigious publishing awards.
