AdCapital AG

AdCapital is a private equity company which predominantly invests in mature companies from what is referred to as the Old Economy. With approximately EUR 200 million in liquid funds and a transaction volume of more than EUR 400 million from 1996 to 2000, AdCapital is already one of the most important private equity companies in Germany. The AdCapital team has experience gained through 15 IPOs and secondary offerings and through more than 50 M&A transactions.

We invest our capital in promising companies, actively accompany their development and sell them at a profit after 3-8 years via the stock exchange or to a strategic investor.

Some 75% of our portfolio is invested in majority participations in the later stage area. This includes successor solutions with regard to proprietor managed family-owned businesses in the form of replacement capital, disinvestment capital with group spin-offs or privatisation of listed companies. The main transaction focus is on volumes between EUR 15 million and EUR 100 million. Larger projects are syndicated in project partnerships. The components supplying industries, traffic technology, electrical engineering, the electronics industry and mechanical and plant engineering form the main emphasis.

Minority participations of 10-30% are entered into with real growth financing, whereby strong controlling rights are striven for. In this case we predominantly view ourselves as co-investors. Generally, the amount of the investment is between EUR 2 to 5 million. In the pre-IPO sector it can increase to as much as EUR 5 to 10 million. The main focus of investment here is in the telecommunications industries, software/IT-services, internet/e-commerce and in new technologies.

AdCapital has the opportunity to benefit from the value potential of the fund, with regard to investments in funds, and to directly invest in the fund’s companies through the fund participation.
We want to actively promote our investments over their entire life cycle through our network of strategic partners. AdCapital views itself as a ‘business builder’ and introduces entrepreneurial experience, technological understanding, transaction expertise and its network into the participations. Our competence in consultancy thus exceeds the assistance provided by traditional risk capital providers.

AdCapital places the value development of the investments into the centre point of its company strategy. The aim is the increase of the net asset value by an average of 15% per annum. This not only covers a value-oriented control of all investments but also includes the disposal of such activities which, in the foreseeable future, will not fulfil the requirements posed by AdCapital AG. Thus further disinvestments will occur within the year which will create additional financial scope and streamline the portfolio.