Deutsche Beteiligungs AG invests in Frimo

Deutsche Beteiligungs AG (DBAG) will invest alongside its advised DBAG Fund VI in the FRIMO Group GmbH (Frimo), DBAG has announced.

Frimo is a leading global provider of tooling and plants for the production of high performance plastic components primarily for car interiors. DBAG and DBAG Fund VI will acquire a majority interest in Frimo in a management buyout (MBO).

The parties to the contract agreed not to disclose the purchase price. DBAG will invest up to 15 million euros from its balance sheet for its interest. The remaining interests will be held by DBAG Fund VI and the company’s management, including the present managing partners Hans-Günter Bayer and Rainer Wittkorn. They will reinvest in Frimo and together hold a 20% interest.

The purchase agreement is subject to regulatory approval; the transaction is expected to be completed by late September.

Frimo (www.frimo.com) develops and manufactures tooling and plants for the production of plastic components used in a variety of applications. Its clients largely comprise automotive suppliers but also include automobile manufacturers directly. Frimo provides its customers with tooling, machinery and automated production lines. The company is a one-stop shop, delivering all tools and plants needed for the entire production process of an end product.

DBAG were advised on this transaction by Allen & Overy, with Ernest Young as financial advisers. Marsh and ERM served DBAG as Risk & Insurance Due Diligence Provider and Environmental Due Diligence Provider respectively. ERM’s team was led by Partner Christopher Kiermayr.

DBAG was provided Commercial Due Diligence services by goetzpartners, with a team led by Dr. Gerrit Schütte.

Epstein Rosenblum Maoz (ERM) specialises in corporate, finance, projects and tax work and has unique experience with respect to cross-border transactions. goetzpartners is an independent advisory firm for all key issues of entrepreneurial activity: strategy, M&A and transformation.

Frimo has been advised by Noerr, with IKB as the vendor’s I-Bank.