DBAG buys electronic components company Sero

The vendors are members of the family of the company's founder, Armin Schröder, who will leave the management of the company.

It is the sixth transaction from DBAG's seventh buyout vehicle, DBAG Fund VII, a €1bn buyout fund that held a final close in July 2016 and is currently more than half deployed.

DBAG co-invested €11m alongside the fund and will eventually hold a 20% stake in the business. Members of Sero's management team will retain minority stakes.

The company said it expects demand for its electronic components to continue to rise as cars have more electronics. Its products are not only used in cars, but also microphones, heat-meters and other industrial products.

Company
Sero was founded by Armin Schröder in 1992 and is headquartered in Rohrbach. The company makes circuit boards for a range of industrial uses, including car electronics and meteorology products. The business generated revenues of €79m in 2017 and employs 270 people.

People
Deutsche Beteiligungs AG – Rolf Scheffels (member of management board).
Sero Schröder Elektronik Rohrbach – Armin Schröder (founder).

Advisers
Equity – PwC (financial due diligence); Roland Berger (commercial due diligence); Shearman Sterling (legal); Gleiss Lutz (legal); Linklaters (legal); Aon (insurance due diligence); Marlborough Parnters (debt advisory).

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• Topics
• Buyouts
• DACH
• Industrials
• Deutsche Beteiligungs AG
• Germany