Background
- IK Partners (IK) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than EUR 17 billion of capital and invested in 195 European companies
- Driescher GmbH (DRIESCHER) is a leading German manufacturer of high-tech medium and low voltage switches and switchgears which are critical components of energy grids
- Established over 110 years ago, DRIESCHER is a reliable partner to many large municipal utilities, industrial customers and railway operators
Process
- DC Advisory was exclusively engaged by IK Partners to provide buy-side M&A advice on the acquisition of DRIESCHER
- DC Advisory leveraged its extensive experience in buy-side transactions, its familiarity with DRIESCHER and its deep knowledge across the energy sector to assist IK Partners throughout the acquisition process
- DC Advisory provided comprehensive financial and strategic advice, assisting with process and due diligence coordination, valuation, and negotiation tactics
- DC Advisory was able to deliver a successful transaction for IK Partners within a competitive sale process
Outcome
- IK Partners entered into a definitive agreement to acquire DRIESCHER in November 2024 from the family shareholders who will all be reinvesting alongside IK
- Financial terms of the transaction were not disclosed. The transaction is subject to customary closing conditions
- With the support of IK, DRIESCHER will look to grow its core business with existing and new customers through continuous product innovation, expansion in Germany and further internationalization as well as aftersales services expansion, potentially also via accretive bolt-on acquisitions
- The transaction illustrates DC Advisory’s expertise with companies that play an important role in advancing energy transition
“DRIESCHER is ideally positioned to grow driven by long-term secular market tailwinds due to the need to modernize aging electrical grid infrastructure, facilitate the connection of new renewable energy sources, and expand capacity to meet rising electricity demand. We would like to thank DC Advisory for the great support throughout the transaction.”
“We are very exited that we have successfully advised IK on the acquisition of DRIESCHER in one of our key sectors. The proposed business concept developed by IK will accelerate the successful development of DRIESCHER going forward. We wish all parties all the best for the future.”
“We are extremely pleased to have assisted IK Partners in partnering with the DRIESCHER family for the Company’s next growth phase. We are convinced about the great potential for the Company’s medium and low voltage products which are essential for the energy transition and the path towards a climate neutral and electrified society.”