DBAG backs Telio MBO

DBAG and the DBAG Fund VI vehicle acquired a majority stake in the company. The management, which was already invested in Telio, upped its stake in the business. The transaction is expected to close by the end of the year.

Telio made the news earlier this year when a German court ruled that its telephone charges at a prison in Burg are too high by 270%. A number of court cases by inmates who refuse to pay the fees are still running. 

DBAG's last investment in a telecommunications company was in April 2013, when it invested €10.6m of growth capital in German broadband connections provider Inexio Informationstechnologie und Telekommunikation KGaA. DBAG provided €4.4m and its fund DBAG Expansion Capital provided the rest, for a total stake in the business of 10%.

Company
Founded in Hamburg in 1998, Telio develops, installs and operates communications and media systems such as telephones and related products in prisons, allowing inmates to make calls from communal areas or directly from their cells. Telio has subsidiaries in France, Belgium and the Netherlands. The company, which has 100 staff, expects to generate revenues of €30m in 2015.

People
Torsten Grede is spokesperson for the board of management of DBAG. Oliver Drews is managing partner at Telio.

Advisers
Company – Altium (Corporate finance).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• DACH
• Technology
• Germany