PE-backed FNZ Group buys EBase for €151m

The sale is expected to generate a positive non-recurring income before tax of €85m for Comdirect, according to a statement.

HIG, General Atlantic and FNZ employees each own 33% of the business after a management buyout by HIG in 2009 and the subsequent expansion deal backed by General Atlantic in 2012.

Previous funding
Comdirect purchased EBase from the former Commerz Asset Management Holding for €24.9m in 2009.

Company
Founded in 2002 as part of ADIG Investment, EBase is an independent and licensed wealth management platform and a subsidiary of Comdirect. It has 265 employees, one million customers and 270 co-operation partners, and assets under administration of €31bn.

People
FNZ Group – Adrian Durham (CEO).
Comdirect – Arno Walter (CEO).

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• Topics
• Expansion
• DACH
• Technology
• Financials
• General Atlantic
• Germany
• Build-up
• HIG Capital