Deutsche Beteiligungs Supports MBO of Spheros

Private equity firm Deutsche Beteiligungs AG has made an equity investment to support the management buyout of Spheros GmbH, a Gilching, Germany-based a manufacturer of climate systems for buses.

DBAG will invest up to €15m from its balance sheet to acquire a 19% interest in Spheros. Co-investors include its DBAG Fund V and the management, which will acquire the remaining stake in the company.
Vendors include Baird Capital Partners Europe, Capcellence, as well as Spheros’ management.

The investment, whose closing is still conditional to the approval by the antitrust authorities, is expected to help the company expand globally.

Led by CEO Helmut Zanker, Spheros develops and manufactures air conditioning systems, engine-independent heating systems, water pumps and roof hatches for all types of buses. In 2010, the company generated revenues of €166.3m. Key markets include Europe and Latin America with Asia to grow in the coming years.
Spheros operates six production sites in Neubrandenburg, Germany, and at five international sites (Finland, Turkey, Brazil, China and India). The company employs a staff of 680, approximately 20% of whom work in Germany.



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