CleanCar AG (Germany) - Oct 2007

unquote
01 October 2007

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Investors

DZ Equity Partner has acquired a minority holding in German carwash operator CleanCar AG mainly from the company’s founder Dr Peter J Henssen for an undisclosed amount. The financial investor sourced the deal exclusively through M&A consultant InterFinanz GmbH & Co KG.

Dr Henssen described the investment of DZ Equity Partner as a logical step towards securing CleanCar AG’s position and as a first step in the successor arrangements for the company.

In partnership with DZ Equity Partner the company will further expand its market position in its core markets in Germany and Austria by opening new carwash centres on a continuous basis.

Company

CleanCar AG is an expanding company and is one of the leading carwash operators in Germany. In 2006 the group returned sales of more than €60m with a work force of around 280 employees. Since 1986, full-service provider CleanCar has operated high-performance carwash and care centres in the growinghigh-tech systems segment. The company now has 21 branches in Germany and three in Vienna, Austria. Besides the new carwash plant in Wiesbaden – which will open in 2008 – there are concrete plans for further branches.

People

Bernd Sexauer represented DZ Equity Partner on the deal. Dr Peter J Henssen is CEO of CleanCar.

Advisers

Equity - Interfinanz GmbH, Wolfgang Moersdorf (Corporate Finance)Equity - Simon Kucher & Partner Bonn, Dieter Lauszus (Commercial Due Diligence)Equity - SJ Berwin LLP, Michael Trask (Legal)Equity - SJ Berwin LLP, Gerald Thomas (Tax)Equity - Warth & Klein Düsseldorf, Achim Krichel (Financial Due Diligence)

Sourced from: Deutsche unquote" 93 (Nov 2007)