EQS-Ad-hoc: Dürr Aktiengesellschaft / Key word(s): Company takeover
Dürr AG greatly expands automation business with acquisition of BBS Automation
13.06.2023 / 00:18 CET/CEST
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Dürr AG greatly expands automation business with acquisition of BBS Automation
Dürr AG WKN 556520 / ISIN DE0005565204
Bietigheim-Bissingen, June 12, 2023 Dürr AG (Dürr) is acquiring the BBS Automation Group based in Garching near Munich (BBS Automation), thereby continuing the strategic expansion of the automation technology business area. Dürr assumes that sales in automation technology will more than double in 2024 as a result of the complete takeover and will reach around 500 million.
As part of the transaction, Dürr will acquire 100% of the shares in Rome HoldCo GmbH (Munich), the holding company of BBS Automation. The seller is a consortium led by the financial investor EQT.
The enterprise value of BBS Automation is between 440 and 480 million and depends on the development of earnings in 2023. The transaction will be financed from cash flow, existing financing instruments and bridge financing.
Company founder Josef Wildgruber will continue to manage BBS Automation. The purchase agreement signed today is subject in particular to merger control approvals and other regulatory requirements. Its completion and initial consolidation are planned for the end of the third or beginning of the fourth quarter of 2023.
In 2023, around 300 million sales are expected for BBS Automation. Around 55% of this is likely to be attributable to automation technology for the production of automotive components (especially e-mobility) and another 20% to systems for medical products. Another focus is the consumer goods sector.
Dürr’s business figures for 2023 will not be significantly affected by the acquisition. Only the forecast for the net financial position as of December 31, 2023 changes in line with the enterprise value of BBS Automation and is now -490 to -540 million (previously: -50 to -100 million).
In addition to BBS Automation, the automation technology business area includes the companies Teamtechnik and Hekuma, which were acquired in 2021. BBS Automation is to grow profitably in the Dürr Group. For 2026, sales of 400 to 450 million and an EBITDA margin of 13 to 15% are expected. The acquisition is therefore in line with Dürr’s growth and earnings targets.
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Contact:
Dürr AG
Andreas Schaller / Mathias Christen
Corporate Communications & Investor Relations
Telephone +49 7142 78-1785 / -1381
Fax +49 7142 78-1716
Email [email protected]
End of the inside information
Information and explanations of the issuer to this communication:
The Dürr Group is one of the world’s leading machine and plant manufacturers with extensive expertise in the areas of automation, digitalization and energy efficiency. Its products, systems and services enable highly efficient and sustainable manufacturing processes in various industries. The Dürr Group primarily supplies the automotive industry, manufacturers of furniture and wooden houses, as well as the chemical, pharmaceutical, medical products and electronics sectors. In 2022, it achieved sales of 4.3 billion. The company has around 18,700 employees and has 123 locations in 32 countries. The Dürr Group operates on the market with the three brands Dürr, Schenck and HOMAG and with five divisions:
- Paint and Final Assembly Systems: Paint shops and final assembly, testing and filling technology for the automotive industry, assembly and testing systems for medical products
- Application Technologies: Robot technologies for the automatic application of paint, sealants and adhesives
- Clean Technology Systems: Exhaust air cleaning systems, coating systems for battery electrodes and noise protection systems
- Measuring and Process Systems: Balancing systems and diagnostic technology
- Woodworking Machinery and Systems: Machines and plants for the woodworking industry
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