AUSTRIA - Deutsche Beteiligungs sells MCE

Deutsche Beteiligungs and its parallel fund DBAG Fund V held a 97% stake in MCE, with the remainder held by management. Following the transaction, MCE will be wholly owned by Bilfinger Berger.

Deutsche Beteiligungs first invested in MCE in a two-step transaction, acquiring 75% in early 2007, followed by a takeover of the residual shares in October 2008.

Headquartered in Linz, MCE is focused on the design, construction and maintenance of facilities in the process industry and the energy sector. Its services includes piping, mechanical components, and measurement and control technology. In 2008, the business reported a turnover of EUR 900m, with an EBIT of approximately EUR 45m. It employs 6,500 people.

The contract is subject to approval by the anti-trust authority. Bilfinger Berger financed the transaction via a capital increase.

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