DBAG's Vitronet bolts on CR Clemens Reuschenbach

The acquisition was wholly financed by debt. DBAG has secured a debt package from BlackRock to finance the company's add-ons.

DBAG acquired a majority stake in Vitronet in June 2017 via its Expansion Capital Fund. According to its website, DBAG made an equity contribution of €9.4m from the fund and €4.5m from its balance sheet.

Vitronet reported 2019 revenues of €98m, compared with €42m in 2017, and employs 240 people. CR Clemens Reuschenbach is the fifth add-on for the company during DBAG's investment period. Vitronet acquired Telewenz in April 2020, as reported.

Company
Founded in 1998, CR Clemens Reuschenbach provides civil engineering and construction services, specialising in static burst lining and directional and horizontal drilling. The company assists with the construction of fibre-optic networks and has clients including municipalities and network operators. Based in Breitscheid, the company has 50 employee and generates sales of €10m.

People
Deutsche Beteiligungs AG – Ragnar Geerdts (member of the executive board).
Vitronet – Marc Lützenkirchen (CEO).
CR Clemens Reuschenbach – Clemens Reuschenbach (former owner).

Advisers
Company – Livingstone Partners, Christian Grandin (legal).

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• Deutsche Beteiligungs AG