DBAG ECF buys STG Braunsberg

It is the seventh buyout from DBAG ECF, which raised an additional €97m for its second new vintage in 2018. Investors renew their commitment to the fund every two years, and STG Braunsberg will be the third deal in the current vintage.

DBAG will invest €14m from its balance sheet alongside the fund, injecting €14m for a 36% stake in the business. It will hold the majority stake via the fund, which has acquired the shares of Hermann and Günter Braunsberg.

The Braunsberg family will retain a minority stake and remain in their management positions with the company.

Company
STG Braunsberg was founded in 1989 and is headquartered in Bochum. It provides services, particularly fibre-optic expansion, to the telecommunications sector. Most of its clients are municipal utilities, municipalities and network operators. The company employs 90 people and generated sales of €20m in 2018.

People
Deutsche Beteiligungs AG – Torsten Grede (spokesman for the board).
STG Braunsberg Group – Hermann Braunsberg, Günter Braunsberg (managing directors).

Advisers
Equity – Bird and Bird, Peter Leube (legal); Ebner Stolz, Armand von Alberti (corporate finance, financial due diligence); Ebner Stolz, Kai Karcher (tax due diligence); Willis Towers Watson, Volker Eichhorn (insurance due diligence); Kapena, Helmut Kohl (commercial due diligence).

Company – Latham Watkins, Stephan Hufnagel (legal).

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