Shearman & Sterling represented funds advised by Deutsche Beteiligungs AG (DBAG) on the acquisition of a majority stake in in-tech GmbH (in-tech), a technology company for engineering services and software, from the two founders. Alongside the fund, DBAG will hold a stake of around 15% in in-tech. The closing of the transaction is inter alia subject to approval by the competent antitrust authorities and expected in the first quarter of 2022. The founders will continue to hold a non-controlling interest in in-tech.
The transaction is the sixth investment of DBAG Fund VIII. The fund has been investing in mid-market companies for one and a half years now with its regional investment focus on Germany, Austria, and Switzerland; however, up to 25% of the fund’s volume may be invested in other European countries.
in-tech, headquartered in Munich, Germany, provides technological and organizational advisory and engineering services worldwide. The company's engineers and software developers conceive, create, test, and validate electronic components integrated into vehicles, machines and transport systems. The lion’s share of revenues is generated in the automotive and related supply industries.