German listed private equity firm Deutsche Beteiligungs AG (DBAG) has sold Broetje-Automation to Chinese trade buyer Shanghai Electric Group for an undisclosed sum.

DBAG’s managed DBAG Fund V, mechanical and plant engineering company Dürr and further co-investors will also divest their interests in Broetje-Automation.

With this divestment, DBAG will generate a return that tops its usual return targets, the firm said in a statement.

Broetje-Automation designs and manufactures complete lines for the automated production of aircrafts in the aerospace industry.

DBAG and DBAG Fund V acquired the business in March 2012. At the time of entry the company had sales of €83m and 450 employees. Since then, the company has more than doubled its sales and it currently employs 850 people.

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