DBAG buys BTV

DBAG drew equity for the transaction from its growth capital fund, DBAG ECF, and co-invested €4.8m from its balance sheet for a 38% stake in the company.

Founder and shareholder Thomas Braun is selling majority stakes in the four operating companies as part of a succession arrangement. Braun will remain in charge of the companies and will take a minority stake in the new company.

DBAG raised €85m for the first new vintage of its expansion capital fund, DBAG ECF I, in June 2017. It had already invested 80% of that capital across four majority buyouts prior to this and will reserve the remaining capital for bolt-ons.

The investment in BTV marks the end of the first investment period and the start of a new one (DBAG ECF II). DBAG expected the investment period to run until December 2018 and the GP expects two further investment periods, corresponding to a total fund size of approximately €270m over five years.

Company
BTV is a group of four operating companies that make and sell components for cable and fibre-optic networks. The company was founded in 1986 and is headquartered in Hanover. It generated sales of €30m in 2017.

People
Deutsche Beteiligungs AG – Torsten Grede (spokesman of the board).
BTV Braun TeleCom Group – Thomas Braun (founder).

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• Deutsche Beteiligungs AG