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Buyouts in Germany move up a gear

Article Abstract:

Private equity companies may be able to take advantage of the need for German Mittelstand companies to expand globally, in order to remain competitive. Management buyouts in Mittelstand companies have not often occurred because they are usually owned by families. The ownership of a number of companies confers status on the owner, in Germany, therefore many prefer to retain their assets. The German buyout market has been improving, with six deals, worth Dm100 million each, being completed in 1996. The German market was worth over 1 billion pounds sterling, in 1996.

Business enterprises

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A record year

Article Abstract:

In 1995, Germany reported a total of 74 buyout transactions, up from 59 in 1994. Total deal value fell to 540 million pounds sterling from 733 million pounds in 1994. Car parts maker, EMPE, was the subject of a 235 million Deutsche Mark (DM) buyout in 1995. Similarly, supplier of marketing and support services to the travel industry, Infox was also bought out in a deal valued at DM71. A related article discusses the Austrian buyout market.

Industry Overview

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Boom time for buyouts?

Article Abstract:

An analysis of the German buyout market from 1996 to 1999 is presented. The impact of the change in German law governing capital gains tax, the growth of the Neuer Markt and the hostile bid for Mannesmann by Vodafone are examined.

Securities, Growth, Neuer Markt

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