Long-term planning. Sustainable growth.

Success through responsible investments.

Our mission is investing private capital in enterprises with high potential. We identify effective ways of ensuring that our investments continue to grow over the long term, allowing us to deliver above-average results for our investors and shareholders.

 

New Long-Term Investments business segment is growing

DBAG offers a broad range of equity finance options. Two years ago, we expanded that range by adding Long-Term Investments – and Germany’s SMEs have been showing strong interest.

Longer holding periods, compared to buyouts
DBAG is one of the most popular partners for the German Mittelstand when it comes to equity financing. Over the past ten years, DBAG has achieved the highest market share in German mid-market MBOs, making us the market leader in this segment. A key success factor – amongst other – is the broad range of equity investment options which DBAG offers to mid-sized companies. For several years now we have noted strong interest of Mittelstand companies in longer-term commitment from their investment partner: this prompted us to add Long-Term Investments to our product range a couple of years ago. These investments are exclusively financed from DBAG’s own balance sheet; unlike the limited term of DBAG funds, there are no such limits in place here. DBAG structures Long-Term Investments predominantly as minority interests, mostly in family businesses, for example if they need capital to fund the company’s growth.

With equity investments of between 15 and 35 million euros and a holding period of seven years or more, we are in a position to support and develop businesses offering good growth potential over a longer period of time than is usually possible through a DBAG fund. As a prerequisite, such investments need to have a business model that benefits from structural growth in target markets which are largely independent from cyclical demand fluctuations.

Four investments in two years
DBAG’s portfolio now includes four Long-Term Investments. With a total investment volume of 77 million euros (equivalent to approximately 14 per cent of the acquisition costs of all portfolio companies), the new business segment has already achieved significant size within the overall portfolio.

July 2022: DBAG’s most recent investment is a minority stake in vhf. Based in Baden-Württemberg, the company develops and produces computer-controlled milling machines predominantly used by dentists and commercial dental laboratories for making dental prostheses. Besides the machinery, vhf Group also manufactures the entire control electronics, as well as the software and milling tools. “What makes this investment in the healthcare growth sector so attractive for DBAG is vhf's strong internal value creation that services a structurally and profitably growing market – especially considering the current environment”, says Jannick Hunecke, member of DBAG’s Board of Management.

Likewise, vhf Group has welcomed its new shareholder: “Together with DBAG, we want to go ahead with the next step in our growth", comments Frank Benzinger, CEO and co-founder. The company is looking to make a push into international markets for dental laboratory equipment, whilst preparing itself for accessing the capital markets: “As a listed company and an investment firm having extensive capital market experience, DBAG has the requisite know-how from which we can benefit as a family business”, Mr Benzinger added.

Data centre operator Green Datahub is another new investment, executed in June 2022 of the past financial year. Data centres offer very predictable revenues, thanks to the long lease terms common in this sector. Moreover, demand for capacity continues to grow. Green Datahub offers co-location data centres where customers can have their servers hosted in a secure environment.

DBAG invested in R+S in May 2021. The Fulda-based company is a leading provider of technical building services. R+S is a single-source provider of electrical system construction, energy and control technology as well as heating/air conditioning and ventilation technology to municipalities, the healthcare sector, manufacturing industry and the shipbuilding industry. The repositioning of R+S will be completed in the near future. Add-on acquisitions will also contribute to the company’s growth, within the framework of a buy-and-build strategy.

DBAG’s very first Long-Term Investment was in Hausheld, back in September 2020. The company, based in Mönchengladbach, offers smart meter solutions for power networks. The energy turnaround in Germany (the 'Energiewende') has triggered strong demand for digitalisation solutions in energy technology. Hausheld offers measurement and control systems for power meters, linking power suppliers and consumers via an intelligent network. Potential areas of application include all electric devices for smart cities, such as electrical motors, night storage heaters, or street lighting. Hausheld is one of the few providers certified by the German Federal Office for Information Security (BSI).

Good prospects
DBAG fully intends to continue growing its portfolio of Long-Term Investments. Torsten Grede, Spokesman of the Board of Management, is satisfied with the development of the new business segment: “On top of the other equity finance solutions we offer, we can now provide a suitable investment option for those companies to whom a long-term focus is important. This is being well received in the market.”

Newsroom

In our newsroom, we keep you up to date on developments in our portfolio, on current topics within DBAG and in the private equity market. In addition, you will find our ad hoc announcements and other investor relations news here.

Portfolio

Our portfolio consists of well-positioned medium-sized companies with potential. One focus for many years has been industry. An increasing proportion of our equity investments are in companies in the growth sectors of broadband telecommunications, IT services and software, and healthcare.

Sector breakdown (%)

Internationality

We are more international than our name suggests: More than 80 per cent of our portfolio companies are based in Germany, but just as many operate globally.

Discover the international network and click on the individual locations.

Cartonplast
Cloudflight
BTV Multimedia
congatec
Deutsche Giga Access
Braun Connectivity Solutions
duagon
evidia
Firian
Hausheld
Heytex
JCK
Karl Eugen Fischer
Kraft & Bauer
mageba
More than Meals
Netzkontor
Oechsler
operasan
GMM Pfaudler
Polytech Health & Aesthetics
Sero
Silbitz
Solvares
Telio
vitronet
von Poll Immobilien
Itelyum
Dantherm
in-tech
freiheit.com
vhf
MTWH
akquinet
Green Datahub
TBD
Avrio Energie
AOE
ProMik
16%
OF REVENUES
(NORTH AMERICA)
9%
OF REVENUES
(ROW)
64%
OF REVENUES
(EUROPE)
12%
OF REVENUES
(APAC)
Cartonplast
Marie-Curie-Straße 8
63128 Dietzenbach, Germany

info(at)cartonplast.com
www.cartonplast.com
Doncaster, United Kingdom
Rio de Janeiro, Brazil
Dagneux, France
Inegöl/Bursa, Turkey
Parla, Spain
Victoria, Australia
Mysłowice, Poland
Figueira da Foz, Portugal
Moscow, Russian Federation
Cape Town, South Africa
Cloudflight
Kaiser-Ludwig-Platz 5
80336 Munich, Germany

info(at)cloudflight.io
www.cloudflight.io
BTV Multimedia
Merkurstraße 3c
30419 Hannover, Germany

info(at)brauntelecom.de
www.brauntelecom.de
congatec
Auwiesenstraße 5
94469 Deggendorf, Germany

info(at)congatec.com
www.congatec.de
Deutsche Giga Access
Zeche Katharina 2
45307 Essen, Germany

info(at)dga-gmbh.com
deutsche-giga-access.de
Braun Connectivity Solutions
Gottlieb-Keim-Straße 53
95448 Bayreuth, Germany

info(at)kabelkonfektion.com
www.kabelkonfektion.com
Großkrotzenburg, Germany
Allensbach, Germany
Karlovy Vary, Czech Republic
Krajková, Czech Republic
Havlíckuv Brod, Czech Republic
Uzhgorod, Ukraine
Cd. Juarez, Mexico
duagon
Riedstrasse 12
8953 Dietikon, Switzerland

mail(at)duagon.com
www.duagon.com
evidia
Feldstraße 5
Dortmund

info(at)evidia.de
www.evidia.de
Firian
Klausnerring 16
85551 Kirchheim, Germany

info(at)multimon.info
www.multimon.info
Hausheld
Blumenberger Straße 143-145
41061 Mönchengladbach, Germany

info(at)hausheld.info
www.hausheld.de
Heytex
Heywinkelstraße 1
49565 Bramsche, Germany

info(at)heytex.com
www.heytex.com
Ebersbach-Neugersdorf, Germany
Jiangsu, China
Pulaski, Virgina, USA
JCK
Artlandstraße 73
49610 Quakenbrück, Germany

contact(at)jck.de
www.jck.de
Karl Eugen Fischer
Karl-Eugen-Fischer-Str. 6+8
96224 Burgkunstadt, Germany

bdsb(at)kefischer.de
www.kefischer.de
Kraft & Bauer
Max-Eyth-Str. 43
71088 Holzgerlingen, Germany

info(at)kraft-bauer.de
www.kraft-bauer.com
Bannwil, Switzerland
mageba
Solistrasse 68
8180 Bülach, Switzerland

info(at)mageba.ch
www.mageba.ch
Eastern Creek, Australia
Shanghai, China
Göttingen, Germany
Kolkata, India
Zagreb, Croatia
Ciudad de México, Mexico
Fussach, Austria
Wels, Austria
Moskau, Russia
Sankt-Petersburg, Russia
Cugy, Switzerland
Banská Štiavnica, Slovakia
Hnústa, Slovakia
Brno, Czech Republic
Çayırova/Kocaeli, Turkey
Anyang-si, South Korea
Nyírtelek, Hungary
New York, NY, USA
San Jose, CA, USA
Pottstown, PA, USA
London, UK
More than Meals

Luxembourg, Luxembourg



Netzkontor
Otto-Hahn-Str. 2
24941 Flensburg, Germany

kontakt(at)netzkontor-nord.de
www.netzkontor-nord.de
Oechsler
Matthias-Oechsler-Straße 9
91522 Ansbach, Germany

info(at)oechsler.com
www.oechsler.com
Weißenburg, Germany
Jiangsu, China
Lipova, Rumania
El Marqués, Mexico
Singapore, Singapore
operasan
Lindberghring 1
33142 Büren, Germany

info(at)operasan.de
www.operasan.de
GMM Pfaudler

Luxembourg, Luxembourg

sales-DE(at)pfaudler.com
www.pfaudler.com
Mexico, Mexico
Avondale, Pennsylvania, USA
Rochester, NY, USA
Cahir, Ireland
Kearsley, England
Leven, Scotland
Tilburg, Netherlands
Schiltigheim, France
Neunkirch, Switzerland
San Donà di Piave, Italy
Mumbai, India
Singapore, Singapore
Suzhou, China
Seocho-gu, Korea
Taubaté, Brazil
Polytech Health & Aesthetics
Altheimer Straße 32
64807 Dieburg, Germany

info(at)polytechhealth.com
www.polytechhealth.com
Milano, Italy
Le Cannet, France
Sero
Grosse Ahlmühle 9
76865 Rohrbach, Germany

mail(at)sero.de
www.sero.de
Silbitz
Dr.-Maruschky-Straße 2
07613 Silbitz, Germany

info(at)silbitz-group.com
www.silbitz-group.com
Zeitz, Germany
Košice-Šaca, Slovakia
Stassfurt, Germany
Solvares
Schlosskoppelweg 8
24226 Heikendorf, Germany

info(at)fastleansmart.com
www.fastleansmart.com
Berkshire, United Kingdom
Warrington, United Kingdom
Hengelo, The Netherlands
Odense, Denmark
Telio
Holstenstraße 205
22765 Hamburg, Germany

info(at)tel.io
www.tel.io
Amsterdam, Netherlands
Warsaw, Poland
Praha, Czech Republic
Vienna, Austria
Bratislava, Slovakia
Budapest, Hungary
Zagreb, Croatia
Roma, Italy
Bukarest, Rumania
Sofia, Bulgaria
vitronet
Zeche Katharina 2
45307 Essen, Germany

info(at)vitronet.de
www.vitronet.de
Westerrönfeld, Germany
Nürnberg, Germany
von Poll Immobilien
Feldbergstraße 35
60325 Frankfurt/Main, Germany

frankfurt(at)von-poll.com
www.von-poll.com
Itelyum

Pieve Fissiraga, Italy


www.itelyum.com
Dantherm

Skive, Denmark

info(at)dantherm.com
www.dantherm.com
in-tech

Garching, Germany

in-tech(at)-intech.com
www.in-tech.com
freiheit.com

Hamburg, Germany

kontakt(at)freiheit.com
www.freiheit.com
vhf

Ammerbuch, Germany

info(at)vhf.de
www.vhf.de/
MTWH

Castelli Calepio, Italy

info(at)mtwh.it
mtwh.it/
akquinet

22297 Hamburg

knowhow(at)akquinet.de
akquinet.com/en/
Green Datahub

22297 Hamburg



TBD

Friedeburg/Ostfriesland

info(at)tbd.de
www.tbd.de
Avrio Energie

Frankfurt am Main

info(at)avrio-energie.de
www.avrio-energie.de
ProMik
Südwestpark 100
Nuremberg

info(at)promik.com
https://promik.com
ProMik International, LP Houston, TX 77027
SuZhou Utest Electronics Technology Co., Ltd Jiangsu
Di-Tek Corporation Seoul

DBAG shares

Access to a highly attractive asset class: Private equity is a highly attractive asset class in its own right, which is usually only accessible for strongly-capitalised institutional investors via closed-end funds. DBAG offers access to this asset class at the price of one share – tradeable on a daily basis, and with the maximum transparency that only a listed company can offer.

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