CMS advises on sale of Broetje Automation GmbH
Frankfurt/Main – Deutsche Beteiligungs AG (DBAG) has sold its shares in Broetje Automation GmbH to Chinese firm Shanghai Electric Group Company Ltd. The DBAG-managed DBAG Fund V and mechanical and plant engineering firm Dürr as a minority shareholder sold their shares at the same time, along with other co-investors. The sale price was not disclosed. The transaction is currently awaiting approval from the competition authorities.
An international CMS team headed by lead partner Dr Hendrik Hirsch advised DBAG and its managed fund DBAG Fund V as well as Dürr AG and the Broetje management team. CMS previously advised DBAG in 2012 when it first invested in the Broetje Group. At that time, DBAG together with its DBAG Fund V and the management team acquired Broetje Automation GmbH and its subsidiaries as part of a management buy-out. A CMS team led by Dr Hendrik Hirsch advised Broetje Automation GmbH in 2014 on the acquisition of the Aircraft & Technology Systems unit from Dürr AG.
Publicly listed private equity firm Deutsche Beteiligungs AG issues closed-end funds and invests alongside the DBAG funds in well-positioned mid-sized companies. Assets managed and advised by DBAG amount to around EUR 1.8 billion.
Broetje-Automation GmbH operates out of new headquarters in the town of Rastede in Lower Saxony and designs and manufactures complete production lines for the aerospace industry. With around 850 employees across multiple sites in Germany and abroad, the company designs and constructs machinery and plants for the assembly of major aircraft components, such as the fuselage, wings and cockpit. The company’s customers include virtually all of the big-name aircraft manufacturers.
Shanghai Electric is a conglomerate listed on the Shanghai and Hong Kong stock exchanges with revenue of USD 11.5 billion in 2014. The company’s operations include regenerative energy, industrial equipment and services. It maintains numerous partnerships with German companies, including Siemens and pump manufacturer KSB.
CMS Hasche Sigle
Dr Hendrik Hirsch, Lead Partner, M&A, Corporate
Dr Holger Pattberg, M&A, Corporate
Marcus Fischer, Tax
Dr Ulrike Glück, M&A, Corporate, China
Kevin Wang, M&A, Corporate, China
Caroline Froger-Michon, Employment, France
Inhouse at DBAG
Florian Döring, Legal Counsel
Press Contact
presse@cms-hs.com
