Pinova invests in deconta

Founder and current managing shareholder Wilhelm Wessling will retain his position and keep a majority stake in the business.

The deal was initiated by M&A adviser VR Unternehmerberatung, which approached the GP. Pinova plans to support deconta's plans for further global expansion before selling the company in five to six years in a joint sale with Wessling.

Pinova invested from its first fund, which currently manages six investments, including Hemoteq, Invent Umwelttechnik, Wendt Sit, Clarus Films and Norafin. The firm typically invests €5-15m in companies with a turnover of €10-20m.

Debt
Debt was arranged with WGZ Bank Düsseldorf; leverage accounted for 20% of deal value.

Company
Isselburg-based deconta produces and supplies equitpment to on-site contamination removal companies. The business has a particular focus on asbestos decontamination. Additionally, deconta provides bespoke solutions and leases machinery to customers on a rental model.

The company was founded by Wilhelm Wessling and a partner in Isselburg in 1998. It has subsidiaries in France, Italy, Switzerland, Spain and Australia. In total deconta employs 100 people, has an estimated turnover of €15m, and is highly profitable according to the GP.

People
Joern Pelzer worked on the deal for Pinova.

Advisers
Equity - Ernst & Young (Financial due diligence); Fichtner Consulting (Commercial due diligence); Roos Legal, Jörg Windt (Legal).
Company – VR Unternehmerberatung (M&A).

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• Topics
• Industrials
• DACH
• Buyouts
• Germany
• Pinova Capital
• Ernst & Young