News – Page 2 – DUBAG Group

LEO II. Fund successfully sells ATOZ Facility Solutions GmbH to HOWOGE

5. August 2024

Munich, 01 August 2024 – The investment fund Lenbach Equity Opportunities II. GmbH & Co. KG (“LEO II. Fund”), exclusively advised by DUBAG Investment Advisory GmbH (“DUBAG”), has successfully sold its 100% stake in ATOZ Facility Solutions GmbH (“ATOZ”) to HOWOGE Wohnungsbaugesellschaft mbH (“HOWOGE”), a municipal housing company of the State of Berlin.

About ATOZ:

ATOZ Facility Solutions GmbH is an established player in the field of technical and infrastructural facility management, offering comprehensive services such as cleaning, janitorial services, green space care as well as maintenance servicing and minor repair management.

As part of the carve-out from the Interzero Group in 2022, ATOZ – under the management of the LEO II. Fund – was positioned as an independent company within the market. Since the takeover, the DUBAG team has actively contributed to the continued successful development of the company.

Sale to HOWOGE:

“We consider HOWOGE to be the best new home for ATOZ” explains Christoph Mödder, Partner at DUBAG and Managing Director of the LEO II. Fund. “The integration of ATOZ into HOWOGE fits perfectly into HOWOGE’s own performance strategy and we are convinced that HOWOGE will be a trustworthy partner for the long-term development of ATOZ.”

About LEO II:

The LEO II. Fund was launched in 2019 by the initiators and with capital commitments from institutional investors to acquire and strategically reposition companies in special situations. The takeover of units from listed groups is one of the most common special situations in which the LEO II. Fund, exclusively advised by DUBAG (www.dubag.eu), is involved.

About HOWOGE:

HOWOGE Wohnungsbaugesellschaft mbH is one of the six municipal housing companies of the State of Berlin. With its own housing stock of around 76,400 flats (as at 31 December 2023), the company is one of the largest landlords in Germany. HOWOGE intends to expand its residential portfolio to around 100,000 flats in the medium to long term, particularly through new construction.

Advisors to LEO II. Fund:

As part of the sale, the LEO II. Fund, in addition to DUBAG, was advised by:

M&A: Taurus Advisory / Dr. Dirk Findeisen, David B. Kauter (Bad Soden am Taunus)

Legal: Heuking Kühn Lüer Wojtek / Dr. Andreas Lenz (Cologne)

LEO III fund has acquired Ampack GmbH and Osgood Industries from CVC-backed Syntegon

1. August 2024

First transaction of the LEO III fund
Ampack and Osgood are packaging experts for cups and bottles
DUBAG selected as buyer for its clear value growth strategy

Munich, July 31st 2024 – DUBAG Group is proud to announce the closing of its first transaction within their exclusively managed LEO III fund shortly following the start of the investment phase.

Syntegon, a group specialized on processing and packaging technologies with over 6,300 employees worldwide and a portfolio company of private equity firm CVC, selected the DUBAG and the LEO III fund as new home for its subsidiaries Ampack GmbH, based in Koenigsbrunn, Germany, and Osgood Industries LLC, located in Oldsmar, Florida, USA.

Positive prospects for Ampack and Osgood

Ampack and Osgood develop forming, filling and sealing machines for cups and bottles used by dairies and food manufacturers to package liquid and viscous foods to the highest hygiene standards. Use cases include dairy products, yogurt, dips, and delicatessen salads. “Ampack and Osgood are strong companies in an attractive market with long-term growth potential,” says Dr. Michael Schumann, CEO of DUBAG Group. “Both companies have an excellent reputation for quality, product range, and expertise. We will work to take their business forward in the coming years and make it even more competitive.”

For Syntegon, on the other hand, the sale of its two subsidiaries is the next step in focusing on its key business. “I am convinced that Ampack and Osgood with their more than 2,800 machines installed at many customer sites around the globe will have a good chance for substantial and sustainable growth with DUBAG,” says Torsten Tuerling, CEO of Syntegon. “We are glad to have found a new owner with a clear strategy to develop this already successful business further.”

Syntegon to further focus on core food business

Besides technologies and services for the pharmaceutical industry, the core business of Syntegon consists of innovative horizontal and vertical processing and packaging technologies for dry food. The sale of Ampack and Osgood enable the group to fully focus on its core business.

LEO III. Fund – Final Closing

20. March 2024

The DUBAG team is pleased to announce the final closing of our new third, oversubscribed LEO III fund generation, totaling investor commitments of EUR 80 million.

Despite a challenging fundraising environment, the DUBAG team was able to close the new LEO III fund at the targeted hard cap of EUR 80 million of investor commitments, therefore doubling the predecessor fund size.

The investment focus of the new LEO III fund is on companies in special situations, in particular carve-outs from conglomerates and tail-end situations of fund-based PE-Investors. The targeted revenue size ranges from EUR 20 up to EUR 400 million. LEO III invests equity tickets from EUR 5 to 20 million and has direct access to a broad network of financing partners, willing to back challenging situations. Transactions with EVs up to EUR 125 million are covered within investment scope.

“In times of constant change and the need for continuous transformation, focusing on core business activities is the key to success. But what if a business segment is no longer part of the core business? We take care of these non-core assets and make these companies and their success our priority. With our operational team, we support value creation from day one and ensure a smooth transition for the sellers”, explains Florian Hitzer, Partner Operations at DUBAG.

“The upcoming years will offer numerous exciting opportunities for investments with a variety of special situation backgrounds. With us, investors have the chance to participate in those interesting opportunities. Our track record shows attractive returns for our investors,” explains Emanuel Cattanei, Partner M&A at DUBAG.

“The interest from institutional investors in the new fund has significantly exceeded our expectations and confirmed our positioning as leading fund-structured private equity special situations specialist in Germany. We are very pleased that many of DUBAG’s investors in previous funds have also invested in our new fund, in some cases with significantly increased subscriptions. In addition, we were able to further internationalize our pool of investors and expand it with renowned addresses. We would like to thank our investors for their trust in our team,” says Christoph Mödder, Partner M&A at DUBAG.

Case Study: Spica

24. November 2023

Already in 2021, our LEO II Fund – advised by DUBAG – acquired and carved-out the card solution business of pharma packaging specialist Liveo Research. The DUBAG team conducted the carve-out of the company and establishing a successful stand-alone entity operating under the name SPICA.

Watch the SPICA team share their experiences with the carve-out and how targeted investments under the LEO II ownership help the SPICA to thrive.

A short video about a long-term success story:

About Spica:

As a leading manufacturer of high performance film, SPICA remains driven by the production of the best PVC material. The end-products, such as bank, identity and travel cards have exceptionally high quality standards. SPICA is the leading manufacturer of such highly sophisticated and innovative materials that meet all requirements regarding quality, specifications and reliability of supply.

Lern more about Spica here. https://dubag.eu/portfolio/spica/

LEO II. fund has acquired Emitec Group from Vitesco. Closing as of August 1st, 2023

1. August 2023

DUBAG Group is delighted to announce the successful acquisition of Emitec Group, Vitesco Technologies’ catalysts and filters business. The acquisition was made through their exclusively managed LEO II. fund.

The group, with production facilities in Germany (Lohmar and Eisenach) and India (Pune) and further sales offices around the globe, is the global market leader in metal substrates for catalysts and filters for various industries and residential buildings with a major footprint in the automotive industry, contributing to the purification of exhaust gases from internal combustion engines and chimneys. The entire Emitec dedicated workforce of c. 1,000 employees has been taken over as part of the transaction. Rolf Brück (CEO), Martin Kohn (CFO) and their experienced team will continue to lead the Emitec Group on its path to becoming an independent company again and maintain its position as a leading partner for OEMs and their suppliers while strengthening the business outside the automotive industry.

Vitesco Technologies Group AG (known until autumn 2019 as Continental Powertrain), headquartered in Regensburg, is a German MDax listed automotive supplier for drivetrain and powertrain technologies.

“We are very proud to welcome Emitec Group to the DUBAG Group family and are convinced that Emitec, as an independent company with a focused and competitive product portfolio, can realise its full potential as an important partner for exhaust gas treatment and filter applications in various industries.”, said Florian Hitzer, Partner Operations at DUBAG Group.

The newly launched website can be viewed here:

https://emitec.com

LEO II. Fund has acquired Promedi from RIW Group

31. July 2023

Munich, July 31st, 2023 – DUBAG Group, a leading investment firm, is delighted to announce the successful acquisition of promedi Personalmanagement GmbH, a Cologne-based full-service staffing provider specializing in medical professions and geriatric care, from RIW Group. The acquisition was made through their exclusively managed LEO II. fund.

With an extensive customer base that includes leading hospitals and geriatric care facilities, Promedi has demonstrated impressive growth over the years. With more than 600 external employees and a strong presence in western and northern Germany, Promedi’s commitment to excellence and organic expansion aligns perfectly with DUBAG Group’s strategic vision for investing in promising ventures.

RIW-Group is a family-owned, Cologne-based provider of Industrial service, facility service and personnel service.

“We are thrilled to welcome Promedi to the DUBAG Group family,” said Christoph Moedder, Partner at DUBAG Group. “Promedi’s remarkable growth story and expertise in medical and geriatric staffing make them an ideal addition to our portfolio. We look forward to building on their success and collaborating to achieve even greater heights.”

Case Study: Carve-out of Catensys

14. March 2023

In 2022, our LEO II Fund – advised by DUBAG – acquired and carve-out the chain drive business from the stock-listed conglomerate Schaeffler Gruppe. The DUBAG team conducted the carve-out of the automotive supplier, establishing Catensys as a successful stand-alone entity.

Watch our Operations Executive Dr. Markus Ottmüller and the DUBAG Partner Christoph Mödder share their experiences with the carve-out of Catensys.

A short video about a long-term success story:

About Catensys:

With around 560 employees, Catensys ranks among the leading global suppliers for chain dirve systems.

Chain drives systems are installed as part of the drive system in the internal combustion engines of passenger cars and other vehicles such as motorcycles as well as modern and environmentally friendly hybrid drives.Being an integral part of a drivetrain, the chain drive systems ensure smooth running and reduced fuel consumption along the entire life cycle of a vehicle.

Commercial activities in chain drive systems have been expanding within the Schaeffler Group since 1986. Due to a strategic portfolio review, Schaeffler seeked the divestment of the business unit and choose DUBAG as the ideal partner for the company’s future.

Research and development as well as production take place at nine different locations in Europe, Asia and North and South America.

Learn more about Catensys here.

DUBAG Group is further growing dynamically 📈

1. February 2023

We are able to proudly look back on a very successful 2022 and sharing some of our major highlights:

🔵🫵🏼First of all, we are very happy that Jennifer Micheller, Marvin Brian, Moritz Rösger & Maximilian Thiel joined our team during 2022. Our new colleagues were already a valuable contribution to the team and the success of DUBAG in 2022.

🔵✔️Furthermore, we are proud of having successfully executed 5 transactions throughout the year, having contributed an additional EUR 400 million in revenue to our portfolio:

🔵✍🏼We added ATOZ Group and CATENSYS – Chain Drive Systems in July 2022 to our portfolio.

🔵✍🏼We signed the intended acquisition of Emitec G.m.b.H. October 2022, and

🔵🤝🏼We closed 2022 with 2 exciting transactions: On the one hand, we were able to find in DEBA a renown partner for the takeover of Holzwerke Pfarrkirchen GmbH. The transaction marks the first and very successful exit of our LEOII fund and for our investors within less than 3 years since inception. On the other hand, we signed the intended acquisition of a major player in the media and broadcasting environment, which we are super excited to officially disclose within the coming days, so stay tuned💥
Read more

DUBAG acquires Eurovision Services from the European Broadcasting Union

31. January 2023

Munich, January 31^st 2023 – DUBAG Group is proud to announce the closing of a new transaction within their exclusively managed LEO II fund.

The Geneva based company Eurovision Services SA was acquired by LEO II. GmbH & Co. KG from the European Broadcasting Union (EBU). Eurovision Services orchestrates the global media content value chain with outstanding hybrid network capabilities, servicing sports federations, right holders and media companies around the world and allowing hundreds of millions of viewers to enjoy high calibre (sports) events. The Company has presences in North America, Europe, Middle East and Asia to ensure coordination across time-zones and 24/7 service availability and employs approx. 250 employees. Among ES’s biggest customers are sports federations and right holders like UEFA, Formula 1 or the NBA.

The European Broadcasting Union is an alliance of public service media organisations. As of 2022, it is made up of 112 member organizations from 54 countries, and 30 associate members from further 19 countries. It was established in 1950 and has its administrative headquarters in Geneva.

The DUBAG team looks forward to re-creating value and is welcoming Eurovision Services into their portfolio.

“With the takeover of Eurovision Services we extend our portfolio with a promising venture. We are convinced ES will be the first-choice provider for event organizers, media organizations and sport federations. We are looking forward to a successful collaboration with all employees and customers.” says Emanuel Cattanei, Partner at DUBAG Group.

Successful sale of Holzwerke Pfarrkirchen by LEO II. Fund to DEBA

12. January 2023

Munich, January 2nd, 2023 – The investment fund Lenbach Equity Opportunities II. GmbH & Co. KG (“LEO II. Fund”), exclusively advised by DUBAG Group in Munich (“DUBAG”), has successfully sold its 100% stake in Holzwerke Pfarrkirchen GmbH (“HWP”) to the Munich based DEBA Group (“DEBA”) with closing today.

About HWP:

Holzwerke Pfarrkirchen GmbH is one of the leading suppliers of premium timber construction products with a focus on solid structural timber (KVH®). Glued laminated timber (glulam and laminated beams) and scaffold panels complete the comprehensive product range. Since its founding in 1939, the company has been producing at the site of Pfarrkirchen on more than 72,800 square meters, employs around 110 people and generated a total output of EUR 65 million in 2021.

In March 2020, Holzwerke Pfarrkirchen GmbH was acquired by the LEO II. Fund from the stock listed Stora Enso Oyj group. The separation from the group and the establishment of independent, medium-sized structures were successfully completed in less than a year. In addition, since the takeover by the LEO II. Fund, significant investments have been made in the sustainability of the location. Examples of this are the acquisition of a MICROTEC GOLDENEYE scanner based on artificial intelligence and the construction of an environmentally friendly combined heat and power plant with its own power generation, which is currently being implemented. The digitalisation of all processes, from order management to scheduling, has also always been a focus and has contributed to the company’s leading position in the industry.

“We are very happy about the continuously successful development of HWP since it was taken over by the LEO II. Fund. We are particularly pleased that with the DEBA Group, led by Dr. Heckelmann, there is now a new owner who will continue this successful development at the site, investing further in sustainable building materials of the future,” says Christoph Moedder, partner of the DUBAG Group and managing director of the LEO II. Fund.

About LEO II:

The LEO II. Fund was launched in 2019 by the initiators and with capital commitments from institutional investors to acquire and strategically reposition companies in special situations. The takeover of units from listed groups is one of the most common special situations in which the LEO II. Fund, exclusively advised by DUBAG Group (www.dubag.eu), is involved.

About DEBA:

The DEBA Group, headquartered in Munich and managed by Dr. Sebastian Heckelmann, has been successfully active as a property developer, especially of residential real estate, since the 1960s. Since 2004, the DEBA Group has concentrated on existing properties and their further development. Long-term and continuity have always been a maxim of the DEBA Group’s entrepreneurial activities.