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Strengthening of geographical presence
€22.4mn
Equity investment
€164mn
Revenues 2019 (preliminary)
1,009
Employees 2019

KEY FACTS AT A GLANCE

  • Objective: Growth by expanding core business and trhough acquisitions
  • Further diversification of customer and product portfolio
  • Successful operational improvement initiatives

SILBITZ GROUP GMBH

Investment by
DBAG FUND VI

€22.4mn

DBAG'S INTEREST

€4.3mn

MANAGEMENT BUYOUT
Shareholders:
DBAG FUND VI

67.4%

EQUITY SHARE BELONGING TO DBAG

12.8%

other shareholders

32.6%

First invested

AUGUST 2015

REVENUES in €mn

 

157

 

2017

 

168

 

2018

 

164

 

2019 (preliminary)

As of 30 June 2020

We invested in a foundry group equipped with modern machinery, one that has experience in various production processes and good earnings power. Silbitz will continue to develop autonomously; we want to support the management in offering its existing customers an extended range of products.

JANNICK HUNECKE
MANAGING DIRECTOR

PROFILE

The Silbitz Group (Silbitz) operates three foundries, each with their own product focus. At its headquarters in Silbitz (Thuringia, Germany), various materials based on iron and steel are cast in hand-moulded and automated machine-moulded processes. The castings mainly include parts for engine construction and energy technology. In Zeitz (Saxony-Anhalt, Germany), the company hand-moulds products mainly for wind turbines, such as rotor hubs and machine carriers – usually in small quantities but with heavy unit weights of up to 45 tons. This allows the company to participate in the energy transition and in the strong trend towards renewable energy generation. At its third production site in Košice (Slovakia), the company uses a range of processes to cast various materials, focusing on highly customised products. In addition to wind energy technology, Silbitz products are also used, among others, in drive technology (e.g. planetary carriers, bearing housings) and non-automotive engine technology (e.g. in pistons and cylinder covers for marine and train engines). Silbitz supplies its products primarily to customers in Germany, Austria and Switzerland as well as in Scandinavia, with most of its customers being market leader in their respective sectors.

POTENTIAL FOR DEVELOPMENT

The Silbitz Group is one of the two foundries in the portfolio, together with the iron foundry Gienanth. Both companies can benefit from DBAG’s experience in this sector. DBAG has been involved in this sector for many years and has already invested in foundries in the past. Besides winning new customers and expanding its business with existing customers, growth through acquisitions is also being considered, as proven by the acquisition of AWS Stassfurt in 2016, a machining company with ~15 million euros in revenues.

FINANCIAL YEAR 2019

2019 was marked by an overall weaker market environment in the foundry sector which also translated in declining orders across Silbitz’ customers and lower revenues and earnings, respectively. The management successfully focused on the implementation of operational improvement as well as cost saving measures to cope with the weaker demand in the wind energy as well as mechanical and plant engineering sector.

OUTLOOK AND OBJECTIVES

Should the weak market environment continue in 2020, Silbitz expects only a slight increase in revenues at stable margins. However, Silbitz is in a strong position with almost no automotive exposure and will try to benefit from the current environment by increasing its market share organically as well as through acquisitions.

Responsible team member

Jannick Hunecke
Jannick Hunecke

Managing Director

Jannick Hunecke
Name:
Jannick Hunecke
Telephone:
+49 69 95787-131
E-Mail:

Jannick Hunecke

Managing Director

Jannick Hunecke joined Deutsche Beteiligungs AG in 2001 and became a Managing Director in 2008.

He holds a degree in Business Administration from the University of Munster, where he also worked as a Research Assistant focusing on finance and accounting.

Jannick Hunecke has 18 years of experience in the private-equity sector and on the advisory boards of the portfolio companies he supports. He has a wealth of knowledge in the sectors of industrial services, industrial components and mechanical and plant engineering. The most successful transactions DBAG entered into that he led are HT Engineering and MCE. He was also responsible for the development of Broetje-Automation.

Current portfolio companies

Karl Eugen Fischer GmbH Silbitz Group GmbH Gienanth GmbH Frimo Group GmbH

Former portfolio companies

Jannick Hunecke

Managing Director

+49 69 95787-131
jannick.hunecke(at)dbag.de