DBAG in advanced talks to acquire Kraft & Bauer
26 SEP 2018
DBAG [ETR:DBAN] is in advanced talks with Swiss sponsor Invision to acquire Kraft & Bauer, a German fire-protection systems supplier, two sources briefed on the situation said.
The deal is expected to have a three-digit price tag, the first and a third source briefed said. Kraft & Bauer generates around EUR 11m EBITDA, the first source said. IMAP is running the process on the sell-side, as reported.
At least two other private equity firms made it to the final round of the auction and are on hold while DBAG and Invision negotiate a deal, the first source said.
The process initially generated interest from strategics, which however failed to meet the vendor’s price expectation. The sale then restarted this summer with a focus on private equity bidders, the third source said.
Kraft & Bauer supplies automatic, microprocessor-controlled fire protection systems to machine manufacturers and industrial businesses. Its product offering includes modularly structured object-protection systems, with pressure-relief and air-butterfly valves for machine tools that have individual or central extraction systems, as well as object-protection systems for computer facilities and explosion protection areas.
Invision acquired a majority stake in the business as part of a succession agreement in 2013.
Kraft & Bauer generates EUR 25m revenues and has 80 employees, according to the sponsor’s website.
Invision, DBAG and IMAP declined to comment.