DBAG exits Heim & Haus in management buy-back

DBAG's shares were acquired by managing shareholders Rolf-Christian Schommers and Heinz-Theo Nühlen, alongside their families.

The purchase price has not yet been disclosed, but was said to be exceeding the investment's most recent valuation in DBAG's interim financial report at 31 January 2011. DBAG stated the divestment will make a positive contribution of less than €10m to its second-quarter net result of valuation and disposal.

Previous funding
Deutsche Beteiligungs AG and its co-investment fund DBAG Fund IV backed the buyout of Heim & Haus in 2006. DBAG took a 20.4% stake, while DBAG Fund IV held 47.8% of the shares.

The transaction was sourced via a limited auction run by BNP Paribas Corporate Finance. A debt package was structured by IKB Deutsche Industriebank.

Since then, Heim & Haus added new products to its portfolio, including energy-saving windows and security products. Turnover grew from €91m to €123m, while the number of staff rose from 300 to 500.

Company
Heim & Haus is a direct sales company for roller blinds, awnings and windows operating in Germany and Austria. Headquartered in Duisburg, it develops and distributes awnings and blinds as well as building elements used in the extension and renovation of one and two-family homes.

In addition to its 500 full-time staff, Heim & Haus also contracts around 1,400 self-employed fitters and sales representatives.

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