Deutsche Beteiligungs AG – DBAG for short – is a heavyweight in the German private equity business and has been active there for decades. With the acquisition of Congatec, a computer module manufacturer based in Deggendorf, Bavaria, DBAG is now adding another company to its portfolio of investments. This article is based on the unique List of the 150 most important private equity investors in Germany.
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DBAG takeover makes IPO superfluous
Congatec was founded in 2004 and develops computer modules – so-called embedded systems, i.e. computers within the computer that take over certain functions in controlling and monitoring. Congatec’s solutions are used in various areas, including medical technology, telecommunications, transportation and industrial automation. The company has approximately 280 employees, subsidiaries and sales offices on four continents and generated sales of 133 million US dollars in 2018.
As early as 2015, Congatec wanted to be listed on the US technology exchange Nasdaq. However, this plan was abandoned due to the weakening capital market, as was an IPO on the Frankfurt Stock Exchange announced for autumn 2019. With the purchase by DBAG, the stock exchange plans have now been fulfilled. DBAG Fund VIII will acquire the majority of shares in Congatec, and DBAG will acquire a further 20 percent directly, so that Congatec is now effectively wholly owned by DBAG.
DBAG’s origins date back to 1965, with Deutsche Bank and Schmidtbank as sponsors when the Company was established in 1984. Today, DBAG is owned by a majority of institutional investors and private investors. The assets managed by DBAG amount to approximately 1.8 billion euros. DBAG prefers to invest in well-positioned medium-sized companies with development potential.
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