Annual report 2025

Dear shareholders,

In today’s dynamic market – where the rulebook is being rewritten by innovation, digitalisation and global upheavals – our focus is on identifying opportunities that create long-lasting added value.

Our investment and financing solutions for the mid-market are in high demand. This is shown by our wide range of activities in the financial year 2025, a selection of which is highlighted below. Driving all of our transactions is our skillset and expertise in identifying promising business models and helping mid-market companies realise their full potential. We have exceptionally vast experience in our field, particularly as regards succession arrangements, which has been built up over many years and continually cultivated by each of the more than 400 transactions now under our belt.

Talking with
our Board of Management

2025 marked one of DBAG's strongest years in terms of investment. In the interview, Tom Alzin and Jannick Hunecke discuss current dynamics of transactions, flexible Investment and financing solutions and clearly defined Investment themes. They explain how technology, energy, business Services and succession solutions are shaping the portfolio and which initiatives will be the focus in the coming years.

Key Transactions

In 2025, we carefully developed our Portfolio and expanded our market presence. Three additional private debt investments, two new private equity investments and the successful exit of a portfolio Company – insights into these key transactions and their contribution to DBAG's strategic development.

Highlights

Whether management buyouts, Long-Term Investments or private debt financings – our services are in great demand. We assist our portfolio companies as they make ground-breaking acquisitions, once again confirming our market-leading position. Successful disposals help us create value for our fund investors and shareholders alike. Our shareholders also participate in our success via share buybacks and dividend distributions.