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1. Company Snapshot

1.a. Company Description

Deutsche Beteiligungs AG is a private equity firm specializing in direct and fund of fund investments.Within direct investments the firm specializes in expansion capital, management buyout, middle market, growth capital, add-on acquisitions, bridge financing, management buy-ins for experienced executives, corporate spin-offs, succession arrangements and generational transition in a family-owned business, small and medium-sized companies and pre-IPO stage investments.Within fund of fund investments the firm invests in private equity funds.


It does not invest in start-up and early stage companies.The firm prefers to invest in automotive suppliers, industrial, mechanical and plant engineering, businesses develop, building supplier, measurement and automation technology, specialty chemical, support service providers, printing, media, broadband/telecommunication, IT services/software, healthcare and packaging sectors.It also prefer to invest in manufacture industrial components for very different customer sectors, produced machines and plants for various customer sectors, industrial support services, and logistics.


It have accessed business models and invested very successfully in other sectors as well.The firm primarily seeks to invest in companies headquartered or having significant business relationships in Germany Mittelstand, DACH (Austria, Switzerland and Germany) France, Netherlands, United States of America, European neighboring countries, and in German speaking European countries.Within European Emerging Markets, it prefers to invest in Czech Republic, Hungary, Poland, and Slovakia.


The firm typically invests between €10 million ($11.07 million) and €75 million ($105.61 million) in companies with revenues between €30 million ($55.33 million) and €500 million ($704.12 million) and enterprise value between €35 million ($35.26 million) and €300 million ($422.47 million), but may also consider investments in smaller companies or participating in larger transactions.In individual instances, it also prefers structure transactions, in which the enterprise value exceeds this range and which require equity capital investments of up to €200 million ($235.19 million).It can also co-invest with other firms.


The firm seeks to take majority or minority stakes in its portfolio companies.It prefers to invest in split-offs of peripheral activities from large corporations, a sale from the portfolio of another financial investor, and a capital requirement to fund a company's growth.The firm seeks to take seats on the portfolio companies' advisory councils or supervisory boards.


It typically holds its investment for a period of eight years.Deutsche Beteiligungs AG was founded in 1965 and is based in Frankfurt am Main, Germany and additional offices in milan, Italy.

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1.b. Last Insights on DBAN

Deutsche Beteiligungs AG's recent stock performance is driven by strong insider ownership, with a notable streak of insiders increasing their holdings in the company. This suggests a high level of confidence in the company's growth prospects and alignment between management and shareholder interests. Additionally, the company's resilience in navigating market uncertainties, such as recent Federal Reserve rate cuts, may indicate a stable financial foundation. As investors seek growth companies with substantial insider ownership, Deutsche Beteiligungs AG's profile has become more attractive.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Nov -18

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Deutsche Beteiligungs AG (WBO:DBAN) Q3 2025 Earnings Call Highlights: Strategic Sales and ...

Nov -06

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Oct -20

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Knorr-Bremse to buy Duagon to boost railway electronic, software capabilities

Sep -30

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European Stocks That May Be Priced Below Intrinsic Value In September 2025

Sep -25

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Deutsche Beteiligungs Second Quarter 2025 Earnings: €0.06 loss per share (vs €0.061 profit in 2Q 2024)

Aug -10

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Deutsche Beteiligungs AG (WBO:DBAN) Q2 2025 Earnings Call Highlights: Navigating Challenges ...

Aug -08

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Here's Why We're Wary Of Buying Deutsche Beteiligungs' (ETR:DBAN) For Its Upcoming Dividend

May -25

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (10.00%)

6. Segments

Private Equity Investments

Expected Growth: 9.9%

Deutsche Beteiligungs AG's 9.9% growth in Private Equity Investments is driven by a strong deal pipeline, successful exits, and a robust fundraising environment. Additionally, the firm's diversified portfolio, strategic add-on acquisitions, and operational value creation initiatives contribute to its growth momentum.

Fund Advice

Expected Growth: 10.27%

Deutsche Beteiligungs AG's 10.27% growth is driven by a strong German economy, increasing demand for private equity investments, and the company's diversified portfolio across industries such as healthcare, technology, and industrials. Additionally, the company's strategic acquisitions and divestments have contributed to its growth momentum.

Group Reconciliation

Expected Growth: 8.5%

Deutsche Beteiligungs AG's 8.5% growth in Group Reconciliation is driven by strategic investments in digitalization, expansion into new markets, and a strong focus on operational efficiency. Additionally, the company's diversified portfolio and effective risk management have contributed to this growth, enabling it to capitalize on market opportunities and mitigate potential downturns.

7. Detailed Products

Private Equity

Deutsche Beteiligungs AG's private equity segment provides equity capital to medium-sized companies in Germany, Austria, and Switzerland, focusing on majority stakes in companies with a turnover of €50 million to €500 million.

Fund of Funds

Deutsche Beteiligungs AG's fund of funds segment invests in a diversified portfolio of private equity funds, providing access to a broad range of private equity investments.

Infrastructure Equity

Deutsche Beteiligungs AG's infrastructure equity segment invests in infrastructure assets, such as energy, transportation, and social infrastructure, in Germany, Austria, and Switzerland.

Debt Investments

Deutsche Beteiligungs AG's debt investments segment provides debt financing to medium-sized companies in Germany, Austria, and Switzerland, focusing on senior and subordinated debt.

8. Deutsche Beteiligungs AG's Porter Forces

Forces Ranking

Threat Of Substitutes

Deutsche Beteiligungs AG operates in a niche market, and substitutes are limited. However, the company's dependence on a few key clients makes it vulnerable to substitutes.

Bargaining Power Of Customers

Deutsche Beteiligungs AG's clients have significant bargaining power due to their large size and negotiating power. This could lead to downward pressure on prices and margins.

Bargaining Power Of Suppliers

Deutsche Beteiligungs AG has a diversified supplier base, which reduces the bargaining power of individual suppliers. The company's strong relationships with suppliers also mitigate this risk.

Threat Of New Entrants

The private equity industry has high barriers to entry, including regulatory hurdles and the need for significant capital. This limits the threat of new entrants.

Intensity Of Rivalry

The private equity industry is highly competitive, with many established players. However, Deutsche Beteiligungs AG's niche focus and strong reputation help to differentiate it from competitors.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 2.14%
Debt Cost 9.37%
Equity Weight 97.86%
Equity Cost 9.37%
WACC 9.37%
Leverage 2.19%

11. Quality Control: Deutsche Beteiligungs AG passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Anima Holding

A-Score: 7.7/10

Value: 7.7

Growth: 6.0

Quality: 7.8

Yield: 9.4

Momentum: 6.0

Volatility: 9.3

1-Year Total Return ->

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Law Debenture

A-Score: 7.1/10

Value: 5.0

Growth: 4.4

Quality: 9.2

Yield: 6.2

Momentum: 7.5

Volatility: 10.0

1-Year Total Return ->

Stock-Card
Real Estate Credit Investments

A-Score: 6.9/10

Value: 5.8

Growth: 3.9

Quality: 8.0

Yield: 10.0

Momentum: 3.5

Volatility: 10.0

1-Year Total Return ->

Stock-Card
abrdn Asia Focus

A-Score: 6.8/10

Value: 4.0

Growth: 6.2

Quality: 8.0

Yield: 3.8

Momentum: 8.5

Volatility: 10.0

1-Year Total Return ->

Stock-Card
Deutsche Beteiligungs

A-Score: 5.8/10

Value: 5.1

Growth: 4.6

Quality: 6.6

Yield: 7.5

Momentum: 4.0

Volatility: 7.0

1-Year Total Return ->

Stock-Card
Mutares

A-Score: 5.8/10

Value: 9.1

Growth: 3.1

Quality: 4.5

Yield: 8.1

Momentum: 7.5

Volatility: 2.3

1-Year Total Return ->

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

25.25$

Current Price

25.25$

Potential

-0.00%

Expected Cash-Flows