Exit: IMAP advises Invision on the sale of Kraft & Bauer to DBAG
Frankfurt am Main — IMAP advised the Swiss financial investor Invision on the sale to Deutsche Beteiligungs AG (DBAG). DBAG, together with DBAG Fund VII, will hold a majority stake in the leading supplier of fire protection systems for machine tools; the family of founder Klaus Bauer and CEO Frank Foddi will continue to hold stakes in the company. The closing of the purchase agreement is scheduled for the coming quarter; the relevant antitrust authorities still have to approve the transaction.
Kraft & Bauer develops, produces and installs fire protection systems for around 800 different types of machine tools. The focus here is on microprocessor-controlled extinguishing systems that detect a fire based on sensors and initiate the extinguishing process. The fire protection systems are either installed directly on the machine by Kraft & Bauer employees or sold as a kit to the machine manufacturer. Kraft & Bauer employs around 80 people at its headquarters in Holzgerlingen (Baden-Württemberg), at a plant in Bannwil (Switzerland) and at 13 service locations in Germany, Switzerland and Italy. The company generates around 30 percent of its sales in the service business.
In 2013, Invision acquired a majority stake in Kraft & Bauer from its founder Klaus Bauer as part of a succession solution. With the sale, the last portfolio company of the INVISION IV L.P. fund, which was launched in 2008, was successfully realized.
“Kraft & Bauer has grown by an average of 10% every year since INVISION joined the company. Customers appreciate the high product quality as well as the associated outstanding service,” explains Martin Spirig, Partner in Charge at INVISION. Frank Becker, Managing Partner of INVISION, adds, “This is thanks to the management team with founder Klaus Bauer and Managing Director Frank Foddi, as well as all Kraft & Bauer employees, whom we would like to thank for their successful cooperation.”
Deutsche Beteiligungs AG, a listed company, initiates and advises closed-end private equity funds and invests alongside DBAG funds in well-positioned medium-sized companies with development potential. The capital managed and advised by the DBAG Group amounts to approximately 1.8 billion euros.
Advisors Invision: IMAP
Dr. Carsten Lehmann, Philipp Noack and Atanas Petkov of IMAP exclusively advised the sellers and supported them in structuring, negotiating and closing the transaction in a competitive process.
Founded in 1973, IMAP is one of the most experienced and largest Mergers & Acquisitions organizations in the world with offices in 35 countries. More than 450 M&A advisors in international sector teams specialize in corporate sales, cross-border acquisitions and strategic financing issues. Its clients are primarily family-owned companies from the midmarket, but also include large national and international corporations as well as financial investors, family offices and institutional investors. Worldwide, IMAP accompanies about 200 transactions per year with a total volume of more than USD 10 billion.