
DBAG sells Novopress
Deutsche Beteiligungs AG (DBAG) has sold its stake in electromechanical pressing tools manufacturer Novopress.
DBAG has a 19% stake in the company, while its Expansion Capital Fund (ECF) vehicle holds 21%.
The stake will be sold to the largest co-shareholder, ZHG Zangen Holding, which represents the family of Wilhelm Zangen, the founder of Novopress. DBAG ECF will also dispose of its shareholdings.
Revenues have grown by more than 80% since DBAG ECF invested four years ago, according to a statement.
Previous funding
Deutsche Beteiligungsgesellschaft mbH Fonds I KG acquired a minority shareholding in Novopress in 1990.
In 2015, DBAG's ECF added Novopress to its portfolio. DBAG acquired the interests via a €23.3m portfolio purchase from AlpInvest, a Dutch asset manager.
Company
Founded in 1969, Novopress is a manufacturer of electromechanical pressing tools used by heating and plumbing technicians to join copper, stainless steel or plastic pipes. The company employs some 110 staff at its headquarters in Neuss, near Dusseldorf, Germany.
People
Deutsche Beteiligungs AG – Torsten Grede (management board spokesperson).
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