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Diversity of models and shorter life cycles as a driver for growth
€102.4mn
Equity investment
€146mn
TOTAL OUTPUT 2021
1,064
Employees 2021

KEY FACTS AT A GLANCE

  • Diversity of models and shorter life cycles with higher quality requirements in the automotive industry as a driver for growth
  • Tense market environment due to geopolitical uncertainties and volatility in the automotive industry
  • Total output expected to be on the previous year’s level

FRIMO

Investment by DBAG
DBAG FUND VI

€102.4mn

DBAG's Interest

€19.5MN

MANAGEMENT BUYOUT

MAJORITY
INVESTMENT OF
DBAG FUND VI

First invested

NOVEMBER 2016

TOTAL OUTPUT1 in €mn

 

203

 

2019

 

160

 

2020

 

146

 

2021
1 The company’s accounts are drawn up in accordance with the German Commercial Code (HGB); in view of the business model, total output provides a better picture of the company’s business activities within a year than revenues do.

 

As of 31 March 2022

90

per cent

of the tools and equipment required are newly purchased by automotive suppliers before the start of production of parts for a new vehicle model

We are investing in a promising company with development potential that, as a supplier of tools and equipment for the automotive supply industry, covers two of our core sectors.

XUELI JIN
INVESTMENT DIRECTOR

PROFILE

Frimo is one of the world’s leading providers of tools and machinery used to manufacture plastic parts for different applications, such as car dashboards, door trims and arm rests. Its customers are mainly automotive suppliers but it also delivers its products directly to automotive manufacturers. The group has a decentralised structure and is a full-service supplier of tools, machines and automated production lines. Frimo’s product portfolio covers almost the entire process chain of its customers.

As the technology required to manufacture interiors must be updated or adapted for almost every new car model due to changes in design, this means that Frimo’s business is not determined by the number of vehicles produced, but rather by the number of new car models. The company benefits from the trend towards high-quality and individually designed vehicle interiors, which allows automotive manufacturers to set themselves apart from the competition. Apart from the automotive industry (~90 per cent of its revenues), Frimo also serves customers in the aviation and chemical industries.

POTENTIAL FOR DEVELOPMENT

Key drivers for the company’s further development in the coming years are further regional expansion, especially in China, the US and Mexico, as well as growing the service and spare parts business and acquiring supplementary technologies and applications. Frimo operates in a niche market and benefits from its good technology base. DBAG will support the company in doing so with its own expertise and that of the DBAG network, for example in the areas of strategy and organisation. We can rely on our in-depth knowledge of business models in mechanical and plant engineering as well as in global market structures, which has been gained from investing in more than 20 companies in this industry sector in the past 25 years, among other experience.

Responsible team member

Xueli Jin
Xueli Jin

Investment Director

Xueli Jin
+49 69 95787-223

Xueli Jin

Investment Director

Xueli Jin joined Deutsche Beteiligungs AG in 2014.

Xueli Jin has nine years of experience in the private-equity and M&A sector. Prior to joining DBAG, she worked for the private equity firm Riverside, where she was involved in executing acquisitions and divestments of mid-market investments and in supporting portfolio companies. She started her career at Morgan Stanley working in M&A.

Xueli Jin holds a degree in Business Administration from the University of Mannheim, and a Master of Science in Financial Economics from the University of Essex.

 

Current portfolio companies

Frimo

Former portfolio companies

Xueli Jin

Investment Director

+49 69 95787-223