DBAG sells minority stake in Grohmann to Tesla

The company's founder and majority shareholder Klaus Grohmann has also sold its 74.9% stake. DBAG stated that, during its investment in the business, revenues climbed by an average of 6% annually to €123m by 2015, and the number of employees tripled over the same period to 700. Only the DBAG listed vehicle was invested in Grohmann, as opposed to funds managed by the firm.

Tesla decided to buy the business after several months of collaboration with Grohmann. The acquirer hopes to grow Grohmann's headquarters in Germany to around 1,000 staff by investing in new production capacities. The business will be renamed Tesla Grohmann Automation, and Tesla hopes to complete the acquisition in early 2017.

Previous funding
The investment in Grohmann dates back to a growth financing investment from 1987, when DBAG predecessor WFG Deutsche Gesellschaft für Wagniskapital took a 25.1% stake in the company. DBAG took over that stake in 1996.

Company
Founded in 1984 and based in Prüm, Grohmann develops and manufactures production lines for industrial automation. The company produces, for example, production lines for the assembly of lithium-ion batteries and the testing of microchips and wafers. In addition, its machines and plants are also employed in biotechnology and medical technology applications.

People
Deutsche Beteiligungs AG – Torsten Grede (spokesperson of the management board).
Tesla – Elon Musk (CEO).
Grohmann Engineering – Klaus Grohmann (founder).

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