DBAG backs Cleanpart Group MBO

Harriet Bailey
23 March 2015

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Deutsche Beteiligungs AG (DBAG) and DBAG Fund VI have invested in a management buyout of the Cleanpart Group.

DBAG invested €12.5m from its balance sheet for a 13% stake in the company. This also includes a bridging loan.

Jörg Hohnloser, the company's current managing shareholder, will remain invested in Cleanpart. He will also continue in the roles of president and chairman of the advisory board. The Cleanpart management team also acquired a stake in the business.

The investment will see Cleanpart expand its portfolio of services. Mainly operating in the semi-conductor industry, its operations in the healthcare sector will be developed through organic growth and bolt-on acquisitions.

The deal marks the GP's fourth management buyout in its current financial year, which began in November. That month, DBAG and DBAG Fund VI acquired Bavaria-based Huhtamaki Films for a total of €141m. In December, DBAG invested €8m from its balance sheet to finance the MBO of Pfaudler Process Solutions Group. DBAG Fund VI acquired the remainder of the company.

Company
Cleanpart services production tool components, such as memory chips, used in the semi-conductor industry. This involves decontaminating, cleaning, coating and, in some cases, replacing the chips.

The company generates around 75% of its €42m revenues from the semi-conductor industry. It also serves customers in the biomedical, photovoltaic and automotive sectors. In addition, Cleanpart re-sterilises surgical instruments for the healthcare industry.

Headquartered in Asperg, the business employs 327 staff at 14 locations in Germany, France and the US. Cleanpart can trace its roots back to 1972, when it started as IBM's exclusive parts cleaning and recovery partner.