20 percent sold
CVC acquires stake in DKV Mobility Services Group
CVC Capital Partners Fund VII has signed an agreement to acquire a 20 percent stake in DKV Mobility Services Group. The family shareholders and previous sole owners of DKV will remain the majority owners of the company with a stake of 80 percent after completion of the transaction.
The parties have agreed not to disclose the purchase price. The transaction is subject to approval by the relevant regulatory authorities and is expected to be completed in the first quarter of 2019.
DKV is a Europe-wide provider of cashless on-the-go services for commercial goods and passenger transportation, toll services and other mobility services. The company offers its approximately 170,000 customers in over 40 European countries the largest supply network in the industry with over 72,000 acceptance points. DKV employs around 1,000 people across Europe and achieved a turnover of 7.2 billion euros in 2017. Since its foundation in 1934, DKV has developed into a mobility service provider that now has over 3.1 million fuel cards and on-board units in circulation.
Together with the majority shareholders and the management, CVC will support the company in accelerating its successful growth strategy.
UniCredit and Commerzbank are acting as financial advisors to the family shareholder, Taylor Wessing as legal advisor. CVC has mandated Royal Bank of Canada as financial advisor and GÖRG as legal advisor.
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