DBAG's FLS merges with Impactit, Städtler Logistik

The transactions closed at the start of 2021, according to a statement.

Following the deal, the three companies will operate as Solvares Group, headquartered in Heikendorf. The three companies generated combined revenues of €21.2m in 2020 and employ a total of 179 staff.

The group intends to make further add-ons, according to a statement from DBAG.

The deal is financed by additional equity from DBAG, according to a statement, comprising a capital increase from the GP's balance sheet and DBAG ECF of €11.7m. DBAG holds a 28% stake in the company, while DBAG ECF holds a 40% stake.

Tikehau Capital also arranged unitranche financing to back the merger, including a margin ratchet grid based on sustainable development goals and ESG criteria selected by management, in addition to other leverage criteria.

DBAG acquired a majority stake in FLS through a management buyout in September 2018, investing via DBAG ECF and its balance sheet. FLS posted revenues of €8m at the time of the investment and employed 70 staff.

Company
Impactit and Städtler Logistik both provide route-planning software for vehicle fleets and staff. Founded in 1999, Impactit is based in Vienna, Austria, and provides its software under the brand name Portatour. Städtler was founded in 1961 and is headquartered in Nuremberg in Germany.

People
Deutsche Beteiligungs AG – Torsten Grede (spokesman for the management board); Ragnar Geerdts (member of the management board).
Solvares Group – Jens Stief (chairman of the management board).

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• Topics
• Expansion
• DACH
• Technology
• Build-up
• Acquisition finance
• Germany
• Deutsche Beteiligungs AG