Investcorp Agrees to Acquire Majority Stake in Germany’s Miebach

(Bloomberg) — Investcorp agreed to acquire a majority stake in German supply chain and logistics consultancy firm Miebach Logistik Holding GmbH, marking its fifth private equity investment in Europe in the past 15 months.

Miebach’s current owners will retain a significant minority stake following the deal, according to a statement on Monday that confirmed an earlier Bloomberg News report. Financial details weren’t disclosed, while people familiar with the matter have said the transaction could value Miebach at about €150 million ($163 million) including debt.

Founded in 1973, Miebach develops supply chain solutions for its clients in industries such as automotive, pharmaceutical, consumer, manufacturing and retail, according to its website. The company operates in 22 countries with about 550 employees.

“Supply chain issues have been relevant for a while, we have seen a lot of onshoring and reshoring since Covid,” José Pfeifer, head of European private equity buyouts group at Investcorp, said in an interview. Investcorp plans to grow Miebach organically as well as through mergers and acquisitions including attracting other consulting teams, he said.

Investcorp’s European private equity group has invested €2.1 billion in companies across the continent since 2012. The acquisition of Miebach, which is expected to close in the second quarter, follows Investcorp’s recent purchases of SEC Newgate and Outcomes First Group.

“We focus on two types of services in Europe, one is tech-led and the other is specialized professional services consulting,” said Alexander Koeppen, a principal at Investcorp European private equity group. “Compared to a decade ago, there are more obvious opportunities for consolidation in this industry, be it accounting or other professional services.”

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