GCA Altium advises HQ Equita on the sale of MEN Holding GmbH to Deutsche Beteiligungs AG for a merger with its portfolio company duagon Holding AG

By on April 5, 2018

HQ Equita has agreed to sell MEN Gruppe, a leading provider of mission critical computers and electronic components for demanding operational environments, to DBAG Fund VII which is advised by Deutsche Beteiligungs AG, for a merger with its portfolio company duagon Holding AG. GCA Altium acted as sole financial advisor to HQ Equita.

MEN develops and produces fail-safe and durable computers and electronic assemblies for challenging environmental conditions. The components are used for data processing inside trains, aircrafts, in industrial plants or medical equipment. duagon is a leading, independent provider of network components for data communication in rail vehicles.

Both MEN and duagon already hold leading competitive positions in their respective markets. While MEN’s computers ensure the flawless and reliable control of brakes, doors and other subsystems of rail vehicles and rail networks, duagon components enable, for instance, the communication of these systems with the central train network.

Hans Moock, Managing Director of HQ Equita, highlighted the business logic of the merger: „Due to duagon’s highly complementary technology and the two well-matched management teams, we believe the merger will create a leading technology provider for secure computing and communications solutions in the rail sector. Such a combined group is ideally positioned to benefit from the positive developments expected in the future in the field of railway electronics and other mission-critical markets, including medical technology, avionics, power & energy and special industrial applications.“

Under duagon’s and MEN’s joint expertise, new products and comprehensive solutions will be developed. The focus will be on automatic safety systems and technological trends, such as autonomous driving, which is also relevant for the rail industry.

Bernd Härtlein, current CEO of MEN and future CEO of the Computing business unit, added: „The merger of duagon and MEN is a major first step in creating a market leader in rail and market computing, wherever there is a need for highly reliable and secure solutions. In particular, I see great potential in duagon’s hardware-related software competence and its strong position with Asian customers.“

Sascha Pfeiffer and Axel Bauer, both Managing Directors at GCA Altium, commented: „We are very proud to announce this transaction for our client HQ Equita which forms a leading global technology vendor for secure computing and communications solutions. This strategic combination marks the next step in the growth of both companies and ideally positions them to benefit from the positive developments expected in the future in the field of railway electronics and other mission-critical markets.“

Terms of the transaction were not disclosed. The transaction is subject to the approval of antitrust authorities.


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