Demeter Partners and WMS invest in Dr. Födisch Umweltmesstechnik

The GPs bought their stake in a secondary buyout from Hamburg-based firm Beaufort Capital. The shares are bundled with the owner's and his family's shares, which in total form a majority stake in the business.

Further shares are held by one strategic investor and four private investors. Beaufort Capital exited the business.

The transaction will allow the company to pursue a buy-and-build strategy.

Debt
Sachsenbank provided debt to finance the transaction; leverage accounts for less than 50% of the deal value.

Previous Investment
CFH Beteiligungsgesellschaft first invested in the company in 2000 when the firm took a 10% stake. It exited in 2007, having increased its stake to 15%. The GP did not reveal return figures but it told unquote" that the business had developed significantly in the past 12 years and the return had been positive.

The GP observed the business following its exit and decided to reinvest with its new fund, WMS, when the opportunity came up. The decision was influenced by the recent stabilisation of the business's shareholder base.

Company
Dr. Födisch Umweltmesstechnik is the main vehicle of the Födisch group, founded by Dr. Holger Födisch in 1991. The group specialises in cleantech and provides its customers with machinery and systems, services and project management. It works with customers globally and notably cooperates with companies in China, its main market.

The group also holds a majority stake in automation technology company AllTec, which currently works on expanding in the German market. The group had a turnover of €30m last year and employs 246 people.

People
Detlef Steinmann worked on the deal as investment director at Demeter Partners, alongside WMS investment director Andreas Müller.

Advisers
Equity - Gruendel Rechtsanwälte, Mirko Gründel (Legal);
Warth & Klein Grant Thornton, Kai Bartels (Financial due diligence, tax); Concentro Management, Hans-Jürgen Stein (Commercial due diligence).

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• Topics
• DACH
• Buyouts
• Industrials
• Exits
• Germany
• Demeter Partners
• CFH Beteiligungsgesellschaft mbH
• Secondary buyout