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Expansion of the customer base, extension of the production capacities
€65.3mn
Equity investment
€143mn
Revenues 2021
757
Employees 2021

KEY FACTS AT A GLANCE

  • Development partner and manufacturing service provider for electronic components
  • Growing market thanks to more electronics in cars
  • Sales and earnings growth in the new financial year

Sero

Investment by
DBAG FUND VII

€65.3mn

DBAG'S INTEREST

€14.8MN

MANAGEMENT BUYOUT

MAJORITY
INVESTMENT OF
DBAG FUND VII

First invested

NOVEMBER 2018

REVENUES in €mn

 

90

 

2019

 

70

 

2020

 

143

 

2021

As of 31 March 2022

~12

per cent

average annual revenue growth since 2015/2016

With Sero, we are again investing in a previously owner-led company. We were particularly impressed with the company’s excellent processes and unwavering customer orientation.

VOLKER BONSELS
MANAGING DIRECTOR

PROFILE

The automotive sector (~87% of revenues) and the industrial sector (~13% of revenues) rely on the high level of competence of the electronic manufacturing services provider Sero. The printed circuit boards and electronic components assembled and produced by Sero are used not only in brake lights and motor sensors, but also for example in high-performance microphones, heat meters and other industrial metrology products. Customers put strong emphasis on cost-efficient products of the highest quality. In Sero, they find industrial competence and a high degree of process automation that enables innovative manufacturing processes.

The company was founded as an engineering office for automation processes in 1992. This competence builds the foundation for its successful development. In today’s highly competitive market, Sero stands out through its ability to com-bine standard production lines with proprietary test and manufacturing modules in order to achieve a particularly high level of quality at competitive prices.

POTENTIAL FOR DEVELOPMENT

Sero operates in an attractive subsegment of the automotive industry. Future growth will be driven in particular by the ever-increasing number of electronic components used in the production of automobiles – for example for automated driving, driver assistant systems and for higher comfort in the interior of vehicles. Sero expects to benefit from this growth, while at the same time extending its customer base. Accordingly, an extension of the production capacities is also planned, for example through the construction of an additional site.

 

 

Responsible team member

Volker Bonsels
Volker Bonsels

Managing Director

Volker Bonsels
+49 69 95787-152

Volker Bonsels

Managing Director

Volker Bonsels joined Deutsche Beteiligungs AG in 1995 and became a Managing Director in 2001.

He holds a degree in Industrial Engineering from the University of Technology, Kaiserslautern, and also studied at the University of Warwick. He started his professional career as a trainee in corporate banking at Deutsche Bank.

Volker Bonsels has 26 years of experience in private equity. He was, and is, a member of the advisory councils at those portfolio companies in which DBAG invested under his lead capacity. He has extensive expertise in a variety of sectors, including building components, industrial services and mechanical and plant engineering. Among the most successful transactions he led are Coperion, Lewa and Otto Sauer Achsenfabrik.

Current portfolio companies

Cartonplast Dieter Braun Sero

Former portfolio companies

Volker Bonsels

Managing Director

+49 69 95787-152