Every day counts - Deutsche Beteiligungs AG

DEUTSCHE BETEILIGUNGS AG –
MARKET PERFORMANCE ATTESTS TO
THE STRATEGY
A clear focus pays off: three management buyouts contracted
– that ranks Deutsche Beteiligungs AG as one of the most
active private equity firms in the German buyout market in
2003. Profitable realizations have again shown that the
investment team of Deutsche Beteiligungs AG is not only
able to create value against the general market trend, but
to realize that value. The new DBAG Fund IV co-investment
fund broadens the scope for future investments and is a
key prerequisite for securing and expanding the Company’s
good market position.
With a track record of nearly 40 years, Deutsche Beteiligungs AG is a particularly
experienced private equity company and a first address in the German market. The
Company can lay claim to having spurred and shaped private equity culture in Germany.
Management buyouts (MBOs) – the focus of our investment strategy – have only been
common in Germany to any significant extent since the mid 90s. We have pro-actively
contributed toward this positive trend, which has by no means reached its climax yet.
Private equity is continuing to gain in importance in Germany: the capital stemming
from Germany for private equity investments has been on a uptrend from year to year.
This is not surprising when comparing the situation in Germany with that of other European
countries. There is still considerable development potential in the German market
when viewed by an international standard. It seems very likely that this potential will
drive the significance of private equity in our economy in the coming years.
Private equity market in Germany
20,000
17,500
15,000
12,500
10,000
7,500
5,000
2,500
0
Particularly strong performance is currently being registered by the market for midmarket
private equity investments structured as management buyouts – our core line of
business. This acquisition form is developing independently of the general economic trend
and has been implemented more frequently than ever in the testing economic climate
of 2003.
Deutsche Beteiligungs AG · Annual Report 2002/2003
Corporate Review – Market and Strategy
Portfolio volume in millions of €
1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
(Jan.–Sept.)
Private equity gaining in
importance
Source: Bundesverband
Deutscher Kapitalbeteiligungsgesellschaften/German
Venture
Capital Association (BVK, Berlin)
19