The German Private Equity Market in 2018€¦ · The German Private Equity Market in 2018 | 3 The...

The German Private Equity Market in 2018

Bundesverband Deutscher Kapitalbeteiligungsgesellschaften e.V. (BVK)

February 2109

The German Private Equity Market in 2018 | 2

Table of contents and preliminary remarks

▪ Table of contents and prelimenary remarks ………… p. 2

▪ European Data Cooperative (EDC) ………………………… p. 3

▪ Key Facts: Private Equity in Germany …………………… p. 4

▪ Market Figures in Detail ………………………………………… p. 6

▪ Fundraising ……………………………………………………………… p. 7

▪ Investitionen …………………………………………………………… p. 8

▪ Divestments …………………………………………………………… p. 15

▪ The following charts summarise a selection of the most important market figures from the BVK Statistics 2018.

Further details can be found in the BVK Statistics tables at https://www.bvkap.de/markt/statistiken

▪ The data used for the analysis are subject to continuous updating. For that reason the available figures for 2018

should be regarded as preliminary. Due to updates of the dataset, the data from previous years contained in

the present statistics also differ from those published in previous annual BVK statistics.

https://www.bvkap.de/markt/statistiken


▪ The following market figures are based on the pan-European statistics platform European Data Cooperative

(EDC). It is a joint initiative by the most important private equity and venture capital associations in Europe:

Invest Europe (Europe), AIFI (Italy), ASCRI (Spain), BVA (Belgium), BVCA (Bulgaria), BVCA (UK), BVK

(Germany), CVCA (The Czech Republic), DVCA (Denmark), France Invest (France), Finland (FVCA), Luxembourg

(LPEA), Norway (NVCA), The Netherlands (NVP), Poland (PSIK), Switzerland (SECA), South Eastern Europe

(SEEPEA), Sweden (SVCA).

▪ The EDC serves as the single data entry point for members of private equity and venture capital associations and

other contributors across Europe to collect Europe wide industry activity on fundraising, investments and

divestments. Using one platform with a standardised methodology allows us to have consistent, robust pan

European statistics that are comparable across the region.

▪ Since 2016, the BVK has been using the EDC for data collection and statistics generation, which is the successor

system to PEREP Analytics, the pan-European statistics platform used from 2008 to 2015, whose data were

migrated to the EDC.

▪ The EDC database brings together 3,300 firms, 9,000 funds, 70,000 portfolio companies and 255,000

transactions.

European Data Cooperative (EDC)


1. Key Facts

The German Private Equity Market


1. Most Important Facts

Private Equity in Germany

The importance of private equity in the German economy

More than 300 Private Equity firms

>1,100 companiesfinanced annually

More than 5,000Portfolio companies

1 million employeesin German portfolio companies

€9.6 bninvested in 2018

€42 bninvested 2014-2018

€194 bn revenuesof portfolio companies


2. Market Figures in Detail

The German Private Equity Market



Fundraising of German Funds

Fundraising by fund stage focus 2011-2018

Source: European Data Cooperative (EDC) / BVK, data as per Feb 2019. Data is continuously updated.

1.316

528 526

996686

1.3331.609

1.227

271

34

39378

132

444

145

1.155

1.558

802

1.595

361

1.463

1.028

826

385

142

250

299

61

149

706

131

294

3.425

2.126

1.389

2.920

2.130

3.060 3.081

2.742

2011 2012 2013 2014 2015 2016 2017 2018

Venture Capital (€m) Growth (€m) Buy-Out (€m) Mezzanine (€m) Generalisten (€m)



Investments in Germany

Amount and number of companies financed 2011-2018


Market statistics = Investments in Germany regardless of origin of investing firm

7070 66675438

73096604 6786

11681

9597

13641296

13401409

1335

1117

1197 1222

0

500

1000

1500

2011 2012 2013 2014 2015 2016 2017 2018

0

2.000

4.000

6.000

8.000

10.000

12.000

Investments (€m) Unternehmen



Semi-annual investments in Germany

Investments above 2011-2016 levels

3599

2070 22862863 3149

2100

61325468

3471

45973152

4446 34544686

5549

4129

2011 2012 2013 2014 2015 2016 2017 2018

H1 (€m) H2 (€m)





Investments in Germany

By stage of investments 2011-2018



725 574 722 677 849 1066 1309 1373

1130 1096 511 994 998 690

1957 1482

52154997

4204

56384757 5030

8415

6742

70706667

5438

7309

6604 6786

11681

9597

2011 2012 2013 2014 2015 2016 2017 2018

Venture Capital (€m) Growth / Turnaround / Replacement C. (€m) Buy-Outs (€m)


Growth / Other minority investments


Investments 2018 by investment stage

Buyouts responsible for nearly three quarter of amount, yet only

accounts for every ninth company investment

1373

14%

1482

16%

6742

70%

684

55%407

33%

149

12%

€9,597 mInvestment

amount

1,222Financed

companies

Venture Capital Buyouts





Venture Capital Investments

Upward trend confirmed


Venture Capital investments include Seed, Start-Up and Later Stage venture capital investments.

Market statistics = Investments in Germany regardless of origin of investing firm.

42 32 43 34 46 55100 63

385337

380 400433

506

716 840

298

205

300 243

369

505

492

470

725

574

722677

849

1.066

1.3091.373

2011 2012 2013 2014 2015 2016 2017 2018

Seed (€m) Start-up (€m) Later Stage-Venture Capital (€m)



Buyouts and minority investments

Investment leap in 2017 and 2018 compared to previous years


Market statistics = Investments in Germany regardless of origin of investing firm.

1130 1096511

994 998 690

19571482

52154997

4204

56384757 5030

8415

6742

2011 2012 2013 2014 2015 2016 2017 2018

Growth / Other minority Investments (€m) Buyouts (€m)



Investments by States

2017 (€m) 2018 (€m)





Divestments

By exit route 2011-2018

2.000

8721.380 1.558

1.131

2.742 2.615

1.092

758

917

876890

1.220

28 210

389

930

466

1.418367 349

147496

69

259

141

567

745623

521

139

248

1.199

1.280

1.215

1.620 2.320

909

2.055

1.222

147

74

238123 92

63

64

94

56

257

68

2.303

55

73

130

94

5.350

4.007

5.761

7.606

5.790

4.484

5.708

3.208

802832

896957 953

884860

810

2011 2012 2013 2014 2015 2016 2017 2018

Trade Sale Divestment by public offering

Write off Repayment of preference shares/ loans/mezzanine

Sale to another pe firm/financial institution Management/Owner buy-back

Others

Companies

Quelle: European Data Cooperative (EDC)/ BVK, Datenstand: Februar 2019. Daten unterliegen fortlaufender Aktualisierung.

Marktstatistik = Divestments durch Beteiligungsgesellschaften in Deutschland unabhängig von der Herkunft der finanzierenden Beteiligungsgesellschaft

Bundesverband Deutscher Kapitalbeteiligungsgesellschaften –

German Private Equity and Venture Capital Association e.V. (BVK)

Reinhardtstrasse 29b

10117 Berlin, Germany

Fon: +49 30 306982-0

Fax: +49 30 306982-20

E-Mail: [email protected]

www.bvkap.de

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