Digades GmbH (Germany) - Dec 2007

unquote
01 December 2007

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Frankfurt-based DZ Equity Partner GmbH (DZEP) has acquired shares in Digades GmbH digitales und analoges Schaltungsdesign, Zittau, in the framework of an owner buyout. Digades’ managing partner Lutz Berger acquired a majority stake in the company. The purchase price was not disclosed.

The contact between Berger and DZEP was brokered, among others, by Volksbank Löbau-Zittau eG.

The financial investor was chosen because of DZ Equity Partner’s strong focus on partnership and SMEs, its commitment to the location Zittau, and the possibility of a complete take-over of the company at some point in the future. The investor was attracted to the company because of its growth story, as Berger developed a small engineering office into a high-tech corporation, which is an important employer in the region.

The financing enables the company to implement its strategic goals, such as shoring up the company’s position in the German market and pressing ahead with tapping new international product and market segments.

Debt

BW Bank, based in Dresden, provided the financing.

Company

Since 1991, Digades has been developing and marketing wireless digital data transmission products, such as intelligent radio-based remote controls for independent vehicle heaters and infotainment systems for the car industry, components for tyre pressure control systems and radio systems for home heater control and ambient temperature monitors. The company employs 123 staff and last year reported a turnover in excess of €12m.

People

Lutz Berger is the managing director of Digades.

Advisers

Equity - Ebner Stolz & Partner, (Financial Due Diligence)Equity - Simon Kucher & Partner Bonn, (Commercial Due Diligence)Equity - SJ Berwin LLP, (Legal)

Sourced from: Deutsche unquote" 95 (Feb 2008)