DBAG sells Romaco to Truking Group

DBAG will initially sell around 75% of the company from its direct holding, as well as through DBAG Fund V, retaining a 24.9% interest through these two holdings proportionally. These remaining share will be transferred to Truking over the next three years to support the company's transition to a new owner.

The exit will generate an exit multiple in excess of 2x and will result in an income contribution of approximately €6m to the second quarter of DBAG's most recent financial year ending 30 March 2017.

The purchase is Truking's first investment in Europe. The group was founded in 2000 and manufactures machines for the pharmaceutical and chemicals industries, including packaging machines.

Previous funding
DBAG initially invested €8m from its balance sheet for a 19% stake in the company in 2011, with DBAG Fund V and Romaco's management buying the remaining shares. The total amount invested was €61m.

Company
Romaco was founded in 1989 and is headquartered in Karlsruhe, Germany. The company designs and manufactures packaging solutions, largely for the pharmaceutical market. It employs a staff of 550 and generated revenues of €134m in its last financial year.

People
Deutsche Beteiligungs AG – Rolf Scheffels (board of management).
Romaco Group – Paolo Alexandre (CEO).

Advisers
Equity – CMS, Hendrik Hirsch (legal); EY, Wolfgang Taudte, Tatjana Beuth-Duchscherer (financial due diligence, tax); Lincoln, Fritz Bieselt, Steffen Leckert (M&A); ERM, Wernder Schulte (ESG due diligence); Androschin & Partner, Christian Androschin (commercial due diligence).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• DACH
• Industrials
• Trade sale
• Deutsche Beteiligungs AG
• Germany