Liberta Partners acquires Kienzle

The transaction is expected to complete in early November 2020.

The deal was made via a structured auction process.

Liberta makes special situations investments including carve-outs and succession solutions. The GP deployed equity via its second fund, which held a final close on €50m in September 2019. The fund focuses on businesses with revenues of €15-200m, deploying up to €15m in equity per platform investment. Liberta invests in businesses based in the DACH region, generally taking majority stakes.

Liberta acquired Germany-based tour operator Ameropa from parent company Deutsche Bahn in January 2020.

Company
Founded in 1946, Kienzle provides sales and services for networked devices and systems in the automotive aftermarket segment. Kienzle also works with software developers to create data management and fleet telematics software. The company serves approximately 770 contractual service partners, as well as a further 10,000 customers.

Based in Mülheim an der Ruhr, the company employs 90 people at its six sites. According to its latest financial report, it saw its turnover increase by 5% between 2018 and 2019, while its EBIT increased by 13% in the same period.

People
Liberta Partners – Nils von Wietzlow (partner).
Kienzle – Achim Weidt (managing partner).

Advisers
Vendor – Belgravia Corporate Finance (M&A).
Equity – Arqis (legal, tax); Bluemont Consulting (commercial due diligence).

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• Topics
• Buyouts
• DACH
• Consumer
• Germany