- DBAG is a private equity firm based in Frankfurt that focuses on mid-market companies
- DBAG ECF III’s shares will also be sold
- This sale marks DBAG ECF III’s first disposal of an MBO from its portfolio
Deutsche Beteiligungs (DBAG) has disposed its investment in BTV Multimedia and will sell its stake in the company to ETC Group.
BTV Multimedia is a group of trading and service companies that develop and distribute components for the construction of cable and fibre-optic networks. The firm is headquartered in Hanover, Germany.
The transaction is expected to be completed in the next four months, subject to relevant regulatory approvals.
The shares held by DBAG ECF III, advised by DBAG, will also be sold.
The total investment in BTV Multimedia was €25.5 million, which includes DBAG’s share of €10.5 million.
“The capital provided by DBAG ECF III allowed BTV Multimedia to significantly strengthen its market position,” said Torsten Grede, spokesman of the board of management, DBAG. “In this way, our shareholders and the fund investors benefit from our long-term value appreciation strategy.”
This sale marks DBAG ECF III’s first disposal of a management buyout (MBO) from its portfolio.
The disposal proceeds from the transaction is in line with the investment’s fair value carried as at 31 December 2022, according to a release.
Based in France, ETC Group is a provider of passive and active telecommunications equipment. The firm is backed by private equity firm Cinven, which acquired a majority stake in the firm in October 2022.
DBAG is a private equity firm based in Frankfurt, Germany that focuses on mid-market companies in Germany, Austria, and Switzerland (the DACH region). It manages around €2.5 billion of assets.