DBAG backs FLS MBO

DABG will acquire a 73% majority stake in the firm as part of a management buyout. Company founder Thomas Brechtel will continue to manage the company along with his current managing director colleagues.

DBAG will use capital from DBAG ECF and will be co-investing for up to €9.5m. Shares will also be held by company founder Thomas Brechtel, other members of management and employees of the company.

The latest transaction is the sixth MBO for DBAG ECF since DBAG's decision in 2016 to change its investment criteria to make selected funds available for MBOs. 

In January 2018, DBAG backed the management buyout of Denmark-based Sjølund, a manufacturer of aluminium and steel components for the wind power and rail industry. This was followed by the acquisitions of Netzkontor Nord, BTV Braun TeleCom Group and Von Poll Immobilien.

Company
Founded in 1992 and headquartered in Heikendorf near Kiel, Schleswig-Holstein, FLS develops and distributes software for appointment scheduling and route planning, workforce management, and mobile services. It employs a staff of 70 in Germany at its headquarters as well as at another office in Cologne. It also operates sales offices in the UK, Denmark and the Netherlands. In 2017, FLS reported a turnover of around €8m.

People
Deutsche Beteiligungs AG – Thorsten Grede (spokesperson of the board).
FLS – Thomas Brechtel (founder).

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