Strengthening of geographical presence
€22.4mn
Equity investment
€175mn
Revenues 2018 (exp.)
1,050
Employees 2018

KEY FACTS AT A GLANCE

  • Objective: growth by expanding business with existing customers and by way of acquisitions
  • New minority shareholder
  • Positive market environment overall, revenue and earnings up on previous year

SILBITZ GROUP GMBH

Investment by
DBAG FUND VI

€22.4mn

DBAG'S INTEREST

€4.3mn

MANAGEMENT BUYOUT
Shareholders:
DBAG FUND VI

68.4%

EQUITY SHARE BELONGING TO DBAG

13.0%

other shareholders

31.6%

First invested

AUGUST 2015

REVENUES in €mn

 

151

 

2016

 

157

 

2017

 

175

 

2018 (exp.)

As of 30 September 2018

>43

PERCENT

of Silbitz’ revenues are generated in the wind energy sector

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 management in offering its existing customers an extended range of products.

JANNICK HUNECKE
MANAGING DIRECTOR

PROFILE

The Silbitz Group operates three foundries, which each have their own product range. At its headquarters in Silbitz (Thuringia, Germany), various materials based on iron and steel are cast in hand-moulded and automated machine-moulded processes; this allows the company to react flexibly to changes in its customer markets. The complex moulded parts produced there are mainly used in engine construction and in energy technology. In Zeitz (Saxony-Anhalt, Germany), the company hand-moulds products mainly for wind farms, rotor hubs and machine carriers – usually in small quantities but with heavy unit weights of up to 45 tonnes. This allows the company to participate in the energy transition and in the resultant sustained enthusiasm for investing in wind farms. At its third production site in Košice (Slovakia), the company uses a range of processes to cast various materials, making highly customised products. In addition to wind energy technology, Silbitz products are also used, among other applications, in drive technology (planetary carriers, bearing housings) and in engine technology outside of the automotive construction, for example, in pistons and cylinder covers for marine and train engines. Its customers include market leaders in their respective sectors. Silbitz supplies its products primarily to customers in Germany, Austria and Switzerland as well as in Scandinavia.

POTENTIAL FOR DEVELOPMENT

The Silbitz Group is the second foundry in the portfolio, accompanying the iron foundry Gienanth. Both companies can benefit from DBAG’s experience in this sector. DBAG has been involved in this sector intensively over the last few years and has already invested in foundries in the past. The Silbitz Group should continue to develop independently. Expanding its business with existing customers should contribute towards this. Non-organic growth through acquisitions of other foundries is also being considered; back in 2016, for example, the group acquired the company formerly known as Achslagerwerke Stassfurt, with a revenue volume of around €15mn.

FINANCIAL YEAR 2018

In 2018 and on the back of a positive market environment, the order intake of the Silbitz Group was the highest in the company’s history. Revenue and earnings are expected to exceed those of the previous year. In February 2018, Sistema Finance S.A. acquired 22 percent of the shares in Silbitz Group GmbH. The subsidiary of the Russian conglomerate JFSC Sistema, which is listed on the London and Moscow stock exchanges, had already previously acquired a minority stake in Gienanth, the second foundry in DBAG’s portfolio. DBAG Fund VI continues to hold the majority of the shares.

OUTLOOK AND OBJECTIVES

The Silbitz Group gained market share in the important wind power sector in 2018 and benefits from an overall positive market environment. With this in mind, the company plans to achieve sales on a par with the high level of 2018 and even better earnings in the coming year.

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