DBAG acquires Silbitz

The company has an estimated value of €50m. DBAG will invest from its balance sheet as well as via DBAG Fund VI, which closed on its €700m hard-cap in August 2012. DBAG's listed company will invest €9m for an 18% stake in Silbitz Group. DBAG Fund VI will acquire the remaining 82%.

Silbitz's management will co-invest as part of the transaction, which is still awaiting antitrust approval.

DBAG plans a close collaboration with the management. In order to increase the group's value, an extension of the foundry's melting capacity is planned. This will allow to produce bigger products and therefore open up a wider market.

In March 2015, DBAG Fund VI invested €12.5m for a 13% stake in the management buyout of Germany-based Cleanpart Group, which services production tool components such as memory chips.

Company
Silbitz incorporates three jobbing foundries, with 960 employees in the German cities of Silbitz and Zeitz as well as Košice in Slovakia. The company's products are used in sectors such as wind energy technology and engine construction in the DACH countries and Scandinavia. Silbitz generated revenues of €130m in 2014.

People
Torsten Grede is spokesperson for the management board of DBAG. Torsten Tiefel is managing director of Silbitz.

Advisers
Equity - Altium Capital, Gerd Bieding (Corporate finance); Allen Overy, Michael Bernhardt, Matthias Horn (Legal); Linklaters, Jann Jetter, Matthias Korff (Legal); EY, Carsten Kuhlmann (Tax); Androschin & Partner, Markus Voege (Commercial due dilligence); IKB, Heinz-Jürgen Büchner (Commercial due dilligence); URS/Aecom, Christian Preuschoff (Environmental due diligence); Willis, Albert Höyng (Insurance due dilligence)

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• Topics
• DACH
• Buyouts
• Industrials
• Germany
• Deutsche Beteiligungs AG