- Pmflex is a manufacturer of electrical installation conduits
- DBAG Fund VII acquired a majority stake in Pmflex from the company’s founding family in September 2020
- Hager Group provides services for electrical installations in residential, commercial and industrial buildings
Deutsche Beteiligungs, via its DBAG Fund VII, has sold its investment in Pmflex, a European manufacturer of electrical installation conduits, to Hager Group.
Pmflex, formerly PM Plastic Materials, produces around 320,000 kilometres of electrical installation tubes annually in its two plants near its headquarters in Bergamo, Italy.
DBAG and DBAG Fund VII acquired a majority stake in Pmflex from the company’s founding family in September 2020. The investment was DBAG’s first management buyout in Italy. DBAG Fund VII’s total investment in Pmflex amounted to approximately €73 million, of which DBAG contributed around €11 million.
Under DBAG’s ownership, Pmflex has made gains in in market share, driven by “strong” demand from existing and new customers, according to DBAG.
With the sale of the Pmflex, DBAG Fund VII has completed its third MBO exit from its portfolio. In November 2022, Frankfurt-based Deutsche Beteiligungs sold Cloudflight to Partners Group. The deal gave an enterprise value of just under €400 million.
The buyer, Hager Group, is a Blieskastel, Germany-based provider of services for electrical installations in residential, commercial and industrial buildings.