vhf, Ammerbuch (Germany)

CNC milling machines and tools for the dental, industrial and sign making sectors

Key facts at a glance

  • Machines, tools and software for dental laboratories and dental offices
  • Well-positioned player in a dynamically growing market
  • Sales growth through the introduction of a new generation of machines and further internationalisation

Revenues in €mn

 

38

 

2019

 

31

 

2020

 

49

 

2021
Investment
by DBAG
€25.0mn
Long-term investment
Minority investment
First invested
July 2022

As of September 2022

 

Profile

vhf, with its registered office in Ammerbuch (Baden-Württemberg), develops and produces computer-controlled milling machines that are predominantly used by commercial dental laboratories – as well as dentists in their own laboratories – for making dental prostheses. A further high-growth share of revenues is generated from making machines for selected industrial applications. In addition, the control electronics and all the milling tools are developed and manufactured within vhf Group. The company benefits from the special system architecture of its machines, which can be combined with all commonly used equipment and third-party software deployed in the manufacturing of dental prostheses. Their machines are considered particularly reliable and are held in high esteem by the market due to their good price-performance ratio. With more than 10,000 machines already installed in dental practices and laboratories, vhf’s market presence forms the strong basis for a growing tools and services business.

The company was founded in 1988, and the founders so far have been the sole shareholders. vhf now has around 350 employees, most of whom work at the Ammerbuch headquarters and at the second German production site in Fürth (Bavaria). The company also has sales offices in New York City and Shanghai.Nowadays, 40 per cent of revenues are generated outside Europe, especially in the US and China, where spending on dental treatment is growing particularly strongly. vhf is seeking to add additional clients in both markets.

We are investing into a company with very strong internal value creation that services a structurally growing and barely cyclical market, and that has shown highly profitable growth.

Jochen Baumann
Managing Director

17

per cent

annual sales growth for the years between 2018 and 2021

Potential for development

The vhf group is an established player in an attractive market niche with ample growth opportunities shaped by demographic change and digitalisation. In the coming years, vhf is to grow in particular through further internationalisation and the expansion of its innovative product portfolio for dental and industrial applications. In the course of this, the production facilities at the Ammerbuch and Fürth sites are also to be significantly expanded.

Contact

Jochen Baumann
Jochen Baumann
Jochen Baumann
+49 69 95787-235

Jochen Baumann

Managing Director

Jochen Baumann joined Deutsche Beteiligungs AG in 1997 and became a Managing Director in 2005.

He holds a degree in Business Administration from the University of Passau, and also studied at the Lund University. Prior to his university education, he completed a bank apprenticeship.

Jochen Baumann has 25 years of experience in private equity. He is also a member of the advisory councils at the portfolio companies in which DBAG invested under his management. His focus includes the implementation of buy-and-build concepts, such as those installed at ProXES, Romaco and Unser Heimatbäcker. He has in-depth knowledge of the packaging industry and special expertise in the food sector as well as in mechanical and plant engineering.

Current portfolio companies

vhf Heytex

Former portfolio companies