MBO: Deutsche Beteiligungs AG acquires BTV braun teleCom

Cate­gory: Private Equity
11. July 2018

Hano­ver / Munich — Deut­sche Betei­li­gungs AG (DBAG) has acqui­red a stake in the opera­ting busi­ness of BTV braun tele­Com AG (BTV), a well-known equip­ment and service provi­der in broad­band commu­ni­ca­ti­ons. As part of a manage­ment buy-out (MBO), the DBAG ECF fund advi­sed by Deut­sche Betei­li­gungs AG will acquire the majo­rity of shares in four opera­ting compa­nies of the BTV group. These will be sold as part of a succes­sion plan by the company foun­der and share­hol­der of BTV Thomas Braun, who will conti­nue to be respon­si­ble for the manage­ment of the companies.

DBAG co-invests up to 4.8 million euros; in future, it will account for around 38 percent of the shares in the compa­nies. Further shares in addi­tion to the DBAG ECF (a total of 93 percent) will be held by the compa­nies’ manage­ment. The closing of the purchase agree­ment is sche­du­led for July 2018. The rele­vant anti­trust autho­ri­ties still have to approve the tran­sac­tion. The parties have agreed not to disc­lose the purchase price.

Deut­sche Betei­li­gungs AG (DBAG) has acqui­red four opera­ting compa­nies of BTV braun tele­Com AG (BTV braun). P+P advi­sed the manage­ment of BTV braun on the tran­sac­tion. The BTV braun group is a full-service provi­der in the field of broad­band commu­ni­ca­ti­ons. The compa­nies of the Group deve­lop, produce and distri­bute compon­ents for the cons­truc­tion of cable and fiber optic networks.

BTV braun, which is head­quar­te­red in Hano­ver and has bran­ches in Hamburg, Wismar, the Nether­lands and Taiwan, gene­ra­ted sales of around 30 million euros in 2017. Deut­sche Betei­li­gungs AG is a finan­cial inves­tor specia­li­zing in growth-orien­­ted medium-sized compa­nies. DBAG is prima­rily active in Germany and has an inter­na­tio­nal network. DBAG intends to conti­nue the orga­nic growth of the BTV braun compa­nies and broa­den its range of products and services.

BTV is the fifth company in broad­band commu­ni­ca­ti­ons in which DBAG has inves­ted since 2013. In addi­tion, there were seven corpo­rate acqui­si­ti­ons of these share­hol­dings. “The market for these compa­nies is driven by incre­asing end-custo­­mer demand for faster Inter­net connec­tions, which require exis­ting networks to be upgraded or newly built,” says Tors­ten Grede, spokes­man for DBAG’s Manage­ment Board, describ­ing the attrac­tive market envi­ron­ment for this invest­ment. This also includes the trend toward high-perfor­­mance fiber-optic connec­tions right into the home.

Advi­sors to BTV braun tele­Com: P+P Pöllath + Partners
P+P part­ner Dr. Barbara Koch-Schulte (photo) provi­ded legal and tax advice to the manage­ment of BTV braun in connec­tion with the transaction.

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