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| Additional information |
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| Deutsche Beteiligungs AG (DBAG) |
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Profile:
Deutsche Beteiligungs AG is a leading German private equity company. We invest in companies that have outstanding positions in their markets, based on their products and services. Additionally, we manage assets entrusted by investors to invest through co-investment funds. Our accomplishments of recent years are rooted in our distinct focus on management buyouts of growth-driven, profitable, internationally operating companies. The experience drawn from more than four decades of investment activity creates the platform on which to further develop our investment strategy.
DBAG was listed in 1985. The company’s shares (ISIN DE0005508105) are a constituent of different indices as there are German small cap index S-Dax, the Dow Jones STOXX Private Equity 20 index or LPX50, which tracks the performance of listed private equity companies worldwide. Assets under management total about €900mn, thereof €230mn on DBAG’s balance sheet. |
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Overview:
With a track record of more than 40 years, Deutsche Beteiligungs AG is a leading German mid-market private equity company. Find out more about our company, our market and about the stock of Deutsche Beteiligungs AG. |
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History:
1965 - Deutsche Beteiligungsgesellschaft mbH founded
Deutsche Beteiligungsgesellschaft mbH was founded in 1965 with the objective of providing equity to unlisted companies in Germany, similar to that already existing in the USA and Great Britain.
As a management company, it had previously invested in unlisted medium-sized enterprises through various funds. One of the first companies to offer private equity in Germany, Deutsche Beteiligungsgesellschaft mbH played a pioneering role in the development of the German private equity market.
1984 - Deutsche Beteiligungs AG Unternehmensbeteiligungsgesellschaft founded
Deutsche Beteiligungs AG Unternehmensbeteiligungsgesellschaft was founded in December 1984 by Deutsche Bank AG, Frankfurt am Main and the banking business of Karl Schmidt, Hof, in anticipation of the amendment to the German statutory law on private equity companies (Gesetz über Unternehmensbeteiligungsgesellschaften UBGG). The rationale behind the company's founding and later, behind the UBGG itself, was to provide unlisted medium-sized enterprises with indirect access to organized capital markets and to open opportunities for investors to indirectly invest in these companies.
The new company acquired interests valued at € 21 million in 12 businesses from the portfolio of Deutsche Beteiligungsgesellschaft mbH. Acting as the management company, Deutsche Beteiligungsgesellschaft mbH conducted the business operations of Deutsche Beteiligungs AG.
1985 - Preferred shares traded on Frankfurt and Düsseldorf stock exchange
Shares of Deutsche Beteiligungs AG were listed on the Frankfurt and Düsseldorf stock exchanges in December 1985. The company's subscribed capital of DM 30,000,000 was divided equally into common and preferred shares. The non-voting preferred shares were offered at a subscriptions price of DM 140 (€ 71.58 translated to today's share denomination).
1987 - German private equity legislation (Gesetz über Unternehmensbeteiligungsgesellschaften, UBGG) became effective
The German law on private equity, which became effective on January 1, 1987, created a special type of private equity: equity investment companies. As stated earlier, this legislation pursues two objectives: to strengthen the equity capital base of unquoted medium enterprises by creating indirect access to organized capital markets, and to enhance the scope of the stock exchanges' quotation sheets by opening opportunities for investors to indirectly invest in unquoted medium businesses.
Private equity businesses subjecting themselves to the regulations of the UBGG (in principle, investing and refinancing regulations) receive the status of an equity investment company, exempting them from municipal trade and capital tax. The company is required to be listed on the stock exchange within a defined period of time, and the charter shareowners must pass on part of their shares.
1990 - Capital increase and common shares traded on stock exchange
In 1990, the company's capital stock was raised by DM 15,000,000 to DM 45,000,000. Common and preferred shares were priced at DM 150 (€ 76.69, translated to today's share denomination) at a subscription ratio of 4:1.
1995 - Amendment to the German private equity legislation: basis for the the company's strategic realignment
The Amendment to the German private equity legislation enabled Deutsche Beteiligungs AG to invest in international businesses. The new business opportunities also opened new perspectives for the stock of Deutsche Beteiligungs AG.
1996 - Deutsche Beteiligungs AG became a management company/Stock re-positioned
As of November 1, 1996, Deutsche Beteiligungs AG employed its own staff. The management team that had previously managed the business of Deutsche Beteiligungs AG through Deutsche Beteiligungsgesellschaft mbH transferred to Deutsche Beteiligungs AG. In 1996, the company's shares were repositioned to better meet market conditions. The preferred shares were converted to common shares and included in the official trading on the stock exchange. Additionally, the par value of the shares was reduced to DM 5. The final step towards repositioning the stock was that Deutsche Beteiligungs AG changed over to another stock exchange segment. Starting July 19, 1996, shares of Deutsche Beteiligungs AG were traded consecutively on the Frankfurt and Düsseldorf stock exchanges.
1997 - Principal shareholder base restructured/First majority acquisitions
Since November 4, 1997 the majority of the shares of Deutsche Beteiligungs AG has been on free float (55 percent). The remaining 45 percent are owned to equal parts of 15 percent by Deutsche Bank, Gerling-Konzern and Vermögensverwaltung Wilhelm von Finck. Restructuring the shareholder base was made possible following the retreat of DBG Vermögensverwaltungsgesellschaft GmbH, which had held a 26.25 percent interest. Deutsche Bank reduced its share from 20 to 15 percent. Beginning in 1997, Deutsche Beteiligungs AG also focused on majority acquisitions in Germany.
2003 - Closing of DBAG Fund IV
In september 2003 Deutsche Beteiligungs AG has completed the fund raising on the buyout fund DBAG Fund IV: institutional investors have committed the sum of 228 million euros. For this fund, Deutsche Beteiligungs AG will, for the first time, manage assets provided by investors outside the company's group of shareholders. Institutional investors such as banks, insurance companies and family asset managements have invested in the fund.
2005 - DBAG raises another co-investment fund: DBAG Fund V
The first closing of DBAG Fund V is held in November. Its targeted size is 375 million euros.
2006 - DBAG Fund V surpasses targeted goal
DBAG completes its fund-raising for its new DBAG Fund V co-investment fund, recording commitments of 434 million euros. Virtually all the investors in the predecessor fund DBAG Fund IV commit to the new fund. DBAG is also able to win over well-known, distinguished institutional investors as new investors in the fund.
2007 - DBAG Fund V begins investment phase/Deutsche Bank withdraws completely
DBAG Fund V begins investing in February; its first investment is in Homag Group AG. The fund invests alongside DBAG at a ratio of 4:1 in management buyouts, chiefly in Germany.
Deutsche Bank sells its last block of shares in Deutsche Beteiligungs AG in July, after the other two principle shareholders (Gerling-Versicherung and Vermögensverwaltung Wilhelm von Finck) had previously divested their interests. For the first time, 100 percent of DBAG shares are in float ownership. |
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