DPE sells Elevion to ČEZ group

The sale was based on EBITDA of €19m from €256.9m in sales for the financial year ending June 2016, according to unquote" sister publication Debtwire.

The company projects an increase in revenues in 2017 taking overall output to €330m. This is a 5.5x increase from the €60m generated at the time of the acquisition by DPE in 2011.

The transaction ends a six-year holding period in which DPE executed its buy-and-build strategy and made more than 30 acquisitions.

Acquirer ČEZ will expand the company's operations into the energy related markets in Germany as well as other countries where ČEZ already has a presence.

The transaction also allows ČEZ to enter the German market, particularly in the renewable energy sector through stakes in wind power farms. ČEZ recorded EBITDA of CZK 60bn from CZK 203bn in revenues for the 12 months to Q3 2016.

Previous funding
In 2011, DPE and Lars Eberlein, CEO and founder of Elevion, entered into a partnership under which DPE acquired a majority of the company.

Company
Elevion is a provider of building and industrial installations, whose origins date back to 1863. The group's range of technical services include all areas of electrical engineering, building automation, safety technology, ventilation, air conditioning and refrigeration technology, test bench and simulation technology, heating and sanitary technology as well as large-scale catering technology. The company employs 2,000 people and projects revenues of €330m for 2017.

People
Deutsche Private Equity – Guido Prehn (partner).
Elevion – Lars Eberlein (CEO).

Advisers
Equity – DC Advisory (corporate finance); Gütt Olk Feldhaus, Kilian Helmreich, Tilmann Gütt, Adrian von Prittwitz, Katalin Siklosi (legal); Altenburg Fachanwälte für Arbeitsrecht, Andreas Ege (legal).

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• Topics
• Exits
• DACH
• Industrials
• Germany
• Buy-and-build
• Trade sale