PRINT THIS PAGE IK acquires tensioning products provider DSI from WALTER BAU for €168m18/07/2005. Source: AltAssets. 
 Industri Kapital, the European buy-out firm with Nordic roots, has entered into an agreement to acquire Germany-headquartered DYWIDAG-Systems International, a provider of tensioning products used in bridge building, slope stabilisation and mining, from the insolvent German construction company WALTER BAU for a purchase price of €168m.
DSI, the independent sub-group and wholly-owned subsidiary of WALTER BAU, is a specialist in the development, production and application of post-tensioning and geotechnical (steel) fastening parts and systems. DSI has 1,100 employees globally with operations across Europe, Asia-Pacific and the Americas. The company's turnover in 2004 was approximately €300m.
Detlef Dinsel, partner at Industri Kapital, said, 'DSI benefits from an excellent brand reputation and market leading position together with a strong track record. We will work closely with the management team to accelerate the profitable growth of the business.'
'We intend to apply Industri Kapital's proven value creation approach to develop the business further. In particular, we intend to pursue appropriate add-on acquisition opportunities, improve the overall business efficiency and take advantage of organic growth opportunities,' Dinsel continued.
Werner Schneider, insolvency administrator of SKP Partnership, added, 'I am delighted at this successful outcome. Not only are the proceeds high, but the deal will also sustainably support DSI's successful growth strategy.'
It has been announced that the current management team will stay with DSI and will take a significant stake in the equity of the company.
IK manages close to €4bn in fund commitments. The firm is an active investor in Germany. Its previous and current investments in Germany include Gardena, Poggenpohl (via Nobia) and Pfaff Haushaltsnähmaschinen (via VSM Group) and i-center.
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