CVC buys minority stake in DKV Mobility Services

The GP drew capital for the deal from CVC Capital Partners VII, a €15.5bn buyout fund that held a final close in June 2017.

Family holding company Gothaer Versicherung is the selling shareholder and retains an 80% stake in the business.

CVC said in its press release that it has partnered with numerous German families, which still hold stakes in their portfolio companies including Douglas and Tipico. However, it recently bought out Théodore Schneider's remaining 20% stake in Breitling after partnering with the Schneider family in 2017.

Company
DKV is a cash-free toll operator for commercial goods and passenger transportation. It has a supply network of 72,000 terminals and 170,000 customers. It generated sales of €7.2bn in 2017 and employs 1,000 people. The business was founded in 1934 and is headquartered in Ratingen.

Advisers
Vendor – Unicredit (corporate finance); Commerzbank (corporate finance); Taylor Wessing (legal).
Equity – Royal Bank of Canada (corporate finance); Görg (legal).

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• Topics
• DACH
• Industrials
• Expansion
• Germany
• CVC Capital Partners