Warburg Pincus closes German office

Warburg stated it is still committed to investing in Germany but has decided to do so from its "centre of expertise", where its five sector specialist teams are based. The GP considers conducting European operations from its London office to be the most efficient model of doing business.

Lars Singbatl, managing director and head of the Frankfurt office, will leave the company to pursue other opportunities, according to Warburg. Two German advisers will remain based in the country.

Warburg last saw activity in the region in December 2012 when it sold Montabaur-based United Internet, a provider of telecommunication, internet and data processing services. It had bought a 5.29% stake in the company in February 2011 for €25m.

The GP currently holds one German portfolio company, embedded computer technology manufacturer Kontron. It bought 8.8% of the Eching-based company for approximately €38.6m in July 2009. Kontron has a €218m yearly turnover and an EBIT of €15m.

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