Deutsche Beteiligungs AG (DBAG) has sold its shares in Broetje Automation GmbH to the Chinese firm Shanghai Electric Group Company Ltd. The DBAG-managed DBAG Fund V and mechanical and plant engineering firm Duerr AG 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 Hendrik Hirsch advised DBAG and the DBAG Fund V as well as Duerr 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 Hendrik Hirsch advised Broetje Automation GmbH in 2014 on the acquisition of the Aircraft & Technology Systems unit from Duerr AG.
Further team members include Holger Pattberg (M&A, Corporate, Germany), Marcus Fischer (Tax, Germany), Ulrike Glueck (M&A, Corporate, China), Kevin Wang (M&A, Corporate, China) and Caroline Froger-Michon (Employment, France).