Private equity firm Deutsche Beteiligungs AG (DBAG) and its DBAG Fund V are exiting their investment in the ProXES Group, a leading provider of process technology to the food industry, by selling their shares to Swiss private equity company Capvis Equity Partners AG and its Capvis Equity Partners IV LP fund. The transaction is currently awaiting approval from the competition authorities. The purchase price was not disclosed.
An international CMS team headed by lead partner Dr Hendrik Hirsch advised Deutsche Beteiligungs AG on all legal aspects of the transaction. CMS previously advised DBAG on the acquisition of Stephan Machinery, part of ProXES, in 2013 and of FrymaKoruma AG in 2014.
ProXES is a leading provider of machinery and process lines primarily for the food industry. The company’s products are used to manufacture and process liquid and semi-liquid foods, cosmetics and pharmaceutical products via a range of methods. The Group has extensive experience of applying its technology, gained from more than 100,000 installations worldwide, along with the relevant systems expertise. Customers served by the Group’s companies include the major global consumer goods manufacturers.
Listed company Deutsche Beteiligungs AG initiates closed-end private equity funds and invests in mid-sized companies with potential for development. It currently holds more than 20 equity interests. It focuses on industrial business models in selected sectors. The company manages and advises on capital totalling around EUR 1.8 billion.