IK Investment carves out Alba from Alba Baving Group

IK will acquire a majority stake from managing partners Jörg Baving and Claus Baving, who will remain shareholders and continue to support Alba in an advisory role.

The GP is deploying equity from the IK Small Cap II fund, which closed on its hard-cap of €550m in February 2018 and typically buys majority stakes and selected minority stakes in companies with enterprise values of up to €100m. The fund invests across the DACH, Benelux and Nordic regions, and France. 

IK will help the management accelerate the company's organic growth strategy, expand its service offering and further invest in its  operations to support its development into a full-service provider of infrastructure services.

Company
Based in Neuenkirchen and founded in 1964, Alba is a service provider for municipal infrastructure services in Germany. The company's services include street sweeping, sink box cleaning, road and highway maintenance and other infrastructure services, as well as winter and greenspace maintenance, and swept material recycling services. It employs fewer than 200 staff, according to LinkedIn. 

People
IK Investment Partners – Nils Pohlmann (partner).
Alba Baving Group – Claus Baving (co-founder).

Advisers
Equity – H&Z Unternehmensberatung (commercial due diligence); EY (financial due diligence, legal, tax).
Vendor – MCF Corporate Finance (M&A); Renzenbrink & Partner (legal); DWL Döcker und Partner (tax),

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• Topics
• Buyouts
• DACH
• IK Investment Partners
• Carve-out
• EY (Ernst & Young)
• Germany
• DACH
• Small-cap buyout