On 11 July 2013, DCM Deutsche Capital Management AG (“DCM AG”) sold 100% of its shares in DCM Real Estate Management GmbH (“DCM REM”) to PropertyFirst GmbH (“PropertyFirst”). The transaction was signed only six weeks after opening of the insolvency procedure for DCM AG.
PwC’s M&A team in Germany acted as exclusive financial adviser to DCM AG and Mr. Dr. Jaffé the insolvency administrator. We managed a competitive sales process involving primarily real estate/property management companies throughout Germany.
DCM REM is a subsidiary of DCM AG and has locations in Munich, Dresden, Magdeburg and Stendal. The company is specialized in property management of office buildings across Germany. DCM REM generated EUR 4.9 million in 2012.
DCM AG is a leading investment company for closed-end funds. The core business is structured into three asset classes: Real Estate, Transport and Energy. The company filed for insolvency on 02 April 2013.
PropertyFirst is part of RGM Group and focuses on property management of modern office buildings, complex shopping centres and large nationalwide real estate portfolios. With the acquisition of DCM REM PropertyFirst considerably extends its property management business, generates significant synergies in managing office buildings and strengthens its nationalwide presence.
The PwC M&A team in Germany acted as exclusive financial adviser to DCM AG.
PwC employs nearly 1,000 M&A professionals all over the world, realizing approximately 300 successful transactions per year. We specialize in a wide range of independent M&A services including advice on acquisitions and disposals, mergers and public takeovers as well as structured financing.
The PwC deal team consisted of Thomas Veith (Partner), Godfried Hangx (Manager) and Ricarda von der Heyde (Consultant).
For more information please contact Thomas Veith on +49 69 9585 5905
Partner, Co-Head Mergers & Acquisitions: Automobilindustrie, Industrielle Produktion
Tel.: +49 69 9585-5667
Dr. Alexander von Friesen
Partner, Co-Head Mergers & Acquisitions: Gesundheitswesen, Handel und Konsumgüter
Tel.: +49 69 9585-5487