DPE sells Elatec to Summit

Pemberton is providing a debt package to support Summit's acquisition, according to sources speaking to Unquote sister publication Debtwire.

Elatec reported EBIT of €3.8m and €10.4m of gross profit for 2015. Its revenues were up 15% year-on-year at €24.2m, according to public filings.

DPE acquired its stake in Elatec in January 2016, drawing equity from its €575m buyout fund DPE III. The former majority shareholder and Elatec's CEO, Stefan Haertel, retained significant interests in the business. 

Company
Elatec is headquartered in Munich and has subsidiaries in the US, the UK, France, Poland, Serbia, the Czech Republic and Australia. The company designs and manufactures close-proximity contactless (NFC, RFID, Bluetooth) devices, as well as contact readers and writers for smart cards. Applications include secure printing, time attendance, handheld devices, physical access, manufacturing, dispensing machines, kiosks, and point-of-sale and single-sign-on systems.

Elatec's products are certified globally and the company targets hardware developers, systems integrators and companies with an international reach.

People
Elatec – Stefan Haertel (CEO).

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• Topics
• Buyouts
• Exits
• DACH
• Industrials
• Germany
• Secondary buyout
• Summit Partners