


{"id":42196,"date":"2018-06-13T17:10:57","date_gmt":"2018-06-13T15:10:57","guid":{"rendered":"https:\/\/newserver.fyb.de\/management-buy-out-dbag-invests-in-karl-eugen-fischer\/"},"modified":"2018-06-13T17:10:57","modified_gmt":"2018-06-13T15:10:57","slug":"management-buy-out-dbag-invests-in-karl-eugen-fischer","status":"publish","type":"post","link":"https:\/\/www.fyb.de\/en\/management-buy-out-dbag-invests-in-karl-eugen-fischer\/","title":{"rendered":"Management buy-out: DBAG invests in Karl Eugen Fischer"},"content":{"rendered":"<p>Frank\u00adfurt am Main \u2014 <strong>Deut\u00adsche Betei\u00adli\u00adgungs AG (DBAG)<\/strong> is inves\u00adt\u00ading in <strong>Karl Eugen Fischer<\/strong> GmbH (KEF), the worl\u00add\u2019s leading company for the deve\u00adlo\u00adp\u00adment and manu\u00adfac\u00adture of cutting systems for the tire indus\u00adtry. DBAG Fund VII, advi\u00adsed by Deut\u00adsche Betei\u00adli\u00adgungs AG, will acquire the majo\u00adrity of the shares as part of a <strong>manage\u00adment buyout<\/strong>; they will be sold by funds advi\u00adsed by <strong>Equis\u00adtone Part\u00adners Europe<\/strong>. DBAG will initi\u00adally invest up to <strong>\u20ac23.5 million<\/strong> for its co-invest\u00adment. In the target struc\u00adture, they will in future hold around 20 percent of the shares in the company. Further shares besi\u00addes DBAG Fund VII will be held by the company\u2019s manage\u00adment. The closing of the purchase agree\u00adment signed yester\u00adday is sche\u00addu\u00adled for the end of this month. The parties have agreed not to disc\u00adlose the purchase price.<\/p>\n<p>The latest acqui\u00adsi\u00adtion marks DBAG Fund VII\u2019s fourth MBO struc\u00adtu\u00adred since the fund\u2019s invest\u00adment period began in Decem\u00adber 2016. With a volume of just over one billion euros, it is the largest private equity fund initia\u00adted and advi\u00adsed by a German private equity company. After four tran\u00adsac\u00adtions, around one third of the invest\u00adment commit\u00adments are now committed.<\/p>\n<p>Tire manu\u00adfac\u00adtu\u00adr\u00aders use the machi\u00adnes produ\u00adced by KEF (www.kefischer.de) to assem\u00adble mainly rubber-coated steel wire and fabric layers (so-called calen\u00adde\u00adred cord mate\u00adrial) for tire carcas\u00adses and tire belts. These layers form the support\u00ading struc\u00adture of the tire and give it shape and driving stabi\u00adlity. They are precis\u00adely cut with equip\u00adment from KEF machi\u00adnes. Since the deve\u00adlo\u00adp\u00adment of the first steel cord cutting line in 1970, a \u201cFischer line\u201d has become a gene\u00adric name: Nine of the ten most successful tire manu\u00adfac\u00adtu\u00adr\u00aders in the world now rely on the company\u2019s machi\u00adnes, whose global market share is around 70 percent. Produc\u00adtion takes place at the company\u2019s head\u00adquar\u00adters in Burg\u00adkunst\u00adadt (Upper Fran\u00adco\u00adnia), where more than 500 of the total work\u00adforce of 545 are employed. There is a sales and service company in both the USA and China. In 2017, 83 million euros were turned over.<\/p>\n<p>Cutting systems are crucial for a smooth produc\u00adtion flow. KEF machi\u00adnes are tech\u00adno\u00adlo\u00adgi\u00adcal leaders in this respect: They are charac\u00adte\u00adri\u00adzed, for exam\u00adple, by high precis\u00adion and low mate\u00adrial losses, both important success factors. With a high level of verti\u00adcal inte\u00adgra\u00adtion, KEF ensu\u00adres that the machi\u00adnes adapted to the respec\u00adtive custo\u00admer requi\u00adre\u00adments can be deli\u00advered in the desi\u00adred quality and on time. The company has been working with its custo\u00admers for deca\u00addes in the deve\u00adlo\u00adp\u00adment of the machi\u00adnes and is a prefer\u00adred supplier for quite a few tire manu\u00adfac\u00adtu\u00adr\u00aders. Based on its outstan\u00adding tech\u00adno\u00adlo\u00adgi\u00adcal posi\u00adtion, KEF is expec\u00adted to bene\u00adfit from the incre\u00adasing demand for tires and thus for corre\u00adspon\u00adding produc\u00adtion faci\u00adli\u00adties. To this end, invest\u00adments will be made in expan\u00adding capa\u00adci\u00adties in the coming year, for exam\u00adple with the cons\u00adtruc\u00adtion of a further assem\u00adbly shop in Burgkunstadt.<\/p>\n<p>Mecha\u00adni\u00adcal and plant engi\u00adnee\u00adring and auto\u00admo\u00adtive suppli\u00aders are two of Deut\u00adsche Betei\u00adli\u00adgungs AG\u2019s four core sectors; in the past ten years alone, DBAG has inves\u00adted in ten compa\u00adnies from these two sectors. \u201cWith our expe\u00adri\u00adence and focus on invest\u00adments in medium-sized compa\u00adnies, we are the ideal part\u00adner for the company,\u201d commen\u00adted Dr. Rolf Schef\u00adfels, member of the DBAG Manage\u00adment Board, on the tran\u00adsac\u00adtion. \u201cWe see further poten\u00adtial for Karl Eugen Fischer in view of the tire manu\u00adfac\u00adtu\u00adr\u00aders\u2019 invest\u00adment plans and market deve\u00adlo\u00adp\u00adments,\u201d Dr. Schef\u00adfels&nbsp;added.<\/p>\n<p>\u201cOur company has bene\u00adfi\u00adted from the support of private equity funds since the foun\u00adding family sold the company more than ten years ago \u2014 they have supported our busi\u00adness,\u201d explains Simone Thies. The commer\u00adcial direc\u00adtor points to the average annual growth of five percent in sales and the number of employees since 2005. He added: \u201cWe are sure that with DBAG we will also be able to exploit the oppor\u00adtu\u00adni\u00adties that lie not only in market growth, but also in further expan\u00adsion of the service busi\u00adness in view of the large number of turbi\u00adnes installed.\u201d<\/p>\n<p><strong>Advi\u00adsor DBAG: Gleiss Lutz<\/strong><br>\nDBAG\u2019s compli\u00adance advice was provi\u00added by a Gleiss Lutz team led by Dr. Eike Bicker (lead, part\u00adner) and inclu\u00adding the follo\u00adwing lawy\u00aders: Marina Stoklasa, Domingo de Prada, Dr. Chris\u00adtoph Skou\u00adpil (all compli\u00adance, Frank\u00adfurt), Dr. Moritz Holm-Hadulla (part\u00adner), Dr. Domi\u00adnik Braun, Dr. Vanessa Gehle (all anti\u00adtrust, Stuttgart).<br>\nAt Deut\u00adsche Betei\u00adli\u00adgungs AG, Mr. <strong>Florian D\u00f6ring<\/strong> (Gene\u00adral Coun\u00adsel) advi\u00adsed on the acqui\u00adsi\u00adtion and coor\u00addi\u00adna\u00adted the process.<\/p>\n<p>Gleiss Lutz regu\u00adlarly advi\u00adses DBAG and other inter\u00adna\u00adtio\u00adnal and natio\u00adnal private equity inves\u00adtors on invest\u00adments in promi\u00adsing compa\u00adnies, inclu\u00adding in the area of venture capital.<\/p>\n<p><strong>About DBAG<\/strong><br>\nDeut\u00adsche Betei\u00adli\u00adgungs AG is a listed private equity company. We initiate closed-end private equity funds: DBAG funds enable insti\u00adtu\u00adtio\u00adnal inves\u00adtors to invest in the equity or equity-like instru\u00adments of unlis\u00adted compa\u00adnies. DBAG advi\u00adses and mana\u00adges these funds. In other words, it seeks out, exami\u00adnes and struc\u00adtures oppor\u00adtu\u00adni\u00adties for parti\u00adci\u00adpa\u00adtion. We nego\u00adtiate invest\u00adment agree\u00adments, accom\u00adpany the port\u00adfo\u00adlio compa\u00adnies during the invest\u00adment period and design the dive\u00adst\u00adment process. We co-invest along\u00adside these DBAG funds with funds from our own balance sheet. A DBAG share thus provi\u00addes access to a port\u00adfo\u00adlio of unlis\u00adted compa\u00adnies and, at the same time, to a successful fund advi\u00adsory business.<\/p>\n<p>Our focus is on medium-sized compa\u00adnies. Their busi\u00adness models and markets are what we have been deal\u00ading with for decades.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Frank\u00adfurt am Main \u2014 Deut\u00adsche Betei\u00adli\u00adgungs AG (DBAG) is inves\u00adt\u00ading in Karl Eugen Fischer GmbH (KEF), the worl\u00add\u2019s leading company for the deve\u00adlo\u00adp\u00adment and manu\u00adfac\u00adture of cutting systems for the tire indus\u00adtry. DBAG Fund VII, advi\u00adsed by Deut\u00adsche Betei\u00adli\u00adgungs AG, will acquire the majo\u00adrity of the shares as part of a manage\u00adment buyout; they&nbsp;will&nbsp;[\u2026]<\/p>\n","protected":false},"author":2,"featured_media":42205,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wp_typography_post_enhancements_disabled":false,"footnotes":""},"categories":[1366],"tags":[],"class_list":["post-42196","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en","news-category-private-equity-news-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Management buy-out: DBAG invests in Karl Eugen Fischer - FYB Financial Yearbook<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fyb.de\/en\/management-buy-out-dbag-invests-in-karl-eugen-fischer\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Management buy-out: DBAG invests in Karl Eugen Fischer - FYB Financial Yearbook\" \/>\n<meta property=\"og:description\" content=\"Frank\u00adfurt am Main \u2014 Deut\u00adsche Betei\u00adli\u00adgungs AG (DBAG) is inves\u00adt\u00ading in Karl Eugen Fischer GmbH (KEF), the worl\u00add\u2019s leading company for the deve\u00adlo\u00adp\u00adment and manu\u00adfac\u00adture of cutting systems for the tire indus\u00adtry. DBAG Fund VII, advi\u00adsed by Deut\u00adsche Betei\u00adli\u00adgungs AG, will acquire the majo\u00adrity of the shares as part of a manage\u00adment buyout; they will [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.fyb.de\/en\/management-buy-out-dbag-invests-in-karl-eugen-fischer\/\" \/>\n<meta property=\"og:site_name\" content=\"FYB Financial Yearbook\" \/>\n<meta property=\"article:published_time\" content=\"2018-06-13T15:10:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.fyb.de\/wp-content\/uploads\/2018\/06\/a-dbag-logo_social.png\" \/>\n\t<meta property=\"og:image:width\" content=\"300\" \/>\n\t<meta property=\"og:image:height\" content=\"300\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Tatjana Anderer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tatjana Anderer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.fyb.de\/en\/management-buy-out-dbag-invests-in-karl-eugen-fischer\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.fyb.de\/en\/management-buy-out-dbag-invests-in-karl-eugen-fischer\/\"},\"author\":{\"name\":\"Tatjana Anderer\",\"@id\":\"https:\/\/www.fyb.de\/en\/#\/schema\/person\/4308b3086925bc8567ceba3ebd69b4ce\"},\"headline\":\"Management buy-out: DBAG invests in Karl Eugen Fischer\",\"datePublished\":\"2018-06-13T15:10:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.fyb.de\/en\/management-buy-out-dbag-invests-in-karl-eugen-fischer\/\"},\"wordCount\":873,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.fyb.de\/en\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.fyb.de\/en\/management-buy-out-dbag-invests-in-karl-eugen-fischer\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.fyb.de\/wp-content\/uploads\/2018\/06\/a-dbag-logo_social.png\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.fyb.de\/en\/management-buy-out-dbag-invests-in-karl-eugen-fischer\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.fyb.de\/en\/management-buy-out-dbag-invests-in-karl-eugen-fischer\/\",\"url\":\"https:\/\/www.fyb.de\/en\/management-buy-out-dbag-invests-in-karl-eugen-fischer\/\",\"name\":\"Management buy-out: DBAG invests in Karl Eugen Fischer - 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