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Der deutsche Beteiligungskapitalmarkt 2013

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Präsentation zur Pressekonferenz des BVK zum deutschen Beteiligungskapitalmarkt 2013 (Stand Februar 2014)

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Der deutsche Beteiligungskapitalmarkt 2013

  1. 1. Der deutsche Beteiligungskapitalmarkt 2013 Präsentation zur Pressekonferenz des Bundesverbandes Deutscher Kapitalbeteiligungsgesellschaften (BVK) am 24. Februar 2014 in Berlin
  2. 2. Seite 2 Rückblick auf den Markt 2013  Investitionen  Rückgang der Investitionen auf 4,68 Mrd. € (-29 %)  Venture Capital behauptet sich gegen den Trend (+19), aber kräftiges Minus bei Buy-Outs (-32 %) und Minderheitsbeteiligungen (-48 %)  Anzahl finanzierter Unternehmen stabil bei >1.200  Divestments  Volumen steigt aufgrund großer Verkäufe um nahezu die Hälfte von 3,88 Mrd. € auf 5,73 Mrd. €  Verkäufe an andere Beteiligungsgesellschaften und Trade Sales dominieren  Fundraising  Weniger neue Fonds, insbesondere große Fonds  Neu eingeworbene Mittel bei 1,1 Mrd. € (-44 %) fallen auf das Niveau der Jahre 2009 und 2010
  3. 3. Seite 3 Rückgang auf Investitionsniveau des Jahres 2010 3,024 4,895 6,667 6,626 4,678 1,216 1,359 1,291 1,288 1,288 0 200 400 600 800 1000 1200 1400 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000 2009 2010 2011 2012 2013 Investitionsvolumen (Mio. €) finanzierte Unternehmen Investitionen seit 2008 in Deutschland Quelle: BVK-Statistik/PEREP Analytics, Datenstand: Februar 2014 Marktstatistik = Investitionen in Deutschland unabhängig von der Herkunft der finanzierenden Beteiligungsgesellschaft
  4. 4. Seite 4 Halbjährliche Investitionen seit 2008 Aufschwung im zweiten Halbjahr 2013 kann Ergebnis des herausragenden Vorjahreszeitraums nicht erreichen 704 2,320 2,533 2,362 3,420 3,247 2,049 4,577 2,021 2,657 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 5,500 H1 09 H2 09 H1 10 H2 10 H1 11 H2 11 H1 12 H2 12 H1 13 H2 13 Private Equity-Investitionen (Mio. €) Quelle: BVK-Statistik/PEREP Analytics, Datenstand: Februar 2014 Marktstatistik = Investitionen in Deutschland unabhängig von der Herkunft der finanzierenden Beteiligungsgesellschaft
  5. 5. Seite 5 Investitionen nach Finanzierungsanlass Venture Capital 56% Wachs- tums- finanzie- rungen 35% Replace- ment/ Turn- around 2% Buy-Outs 7% Venture Capital 14% Wachs- tums- finanzie- rungen 7% Replace- ment/ Turn- around 2% Buy-Outs 77% Investitionen 2013 in Deutschland Investitions- volumen: 4.678 Mio. € Finanzierte Unternehmen: 1.288 Quelle: BVK-Statistik/PEREP Analytics, Datenstand: Februar 2014 Marktstatistik = Investitionen in Deutschland unabhängig von der Herkunft der finanzierenden Beteiligungsgesellschaft
  6. 6. Seite 6 20 36 23 25 18 24 17 15 22 22 155 191 193 194 218 182 151 185 224 149 114 143 108 186 161 115 118 83 159 98 0 100 200 300 400 500 600 H1 09 H2 09 H1 10 H2 10 H1 11 H2 11 H1 12 H2 12 H1 13 H2 13 Seed (Mio. €) Start-up (Mio. €) Later Stage-Venture Capital (Mio. €) Stabilisierung des Marktes und Anstieg gegenüber 2012 Halbjährliche Venture Capital-Investitionen 2009: 659 Mio. €, 929 Unternehmen 2010: 729 Mio. €, 966 Unternehmen 2011: 717 Mio. €, 884 Unternehmen 2012: 567 Mio. €, 780 Unternehmen 2013: 674 Mio. €, 723 Unternehmen Quelle: BVK-Statistik/PEREP Analytics, Datenstand: Februar 2014 Marktstatistik = Investitionen in Deutschland unabhängig von der Herkunft der finanzierenden Beteiligungsgesellschaft
  7. 7. Seite 7 Buy-Out- und Growth/Turnaround-Investitionen Vom Buy-Out-Segment geprägtes, fluktuierendes Investitionsgeschehen 104 415 445 221 346 230 305 406 170 17698 97 239 19 40 258 43 38 14 54213 1,438 1,525 1,716 2,637 2,438 1,416 3,850 1,432 2,158 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 H1 09 H2 09 H1 10 H2 10 H1 11 H2 11 H1 12 H2 12 H1 13 H2 13 Growth (Mio. €) Turnaround/Replacement (Mio. €) Buy-Out (Mio. €) 2009: 2.365 Mio. €, 297 Unternehmen 2010: 4.166 Mio. €, 401 Unternehmen 2011: 5.950 Mio. €, 410 Unternehmen 2012: 6.059 Mio. €, 515 Unternehmen 2013: 4.004 Mio. €, 570 Unternehmen Quelle: BVK-Statistik/PEREP Analytics, Datenstand: Februar 2014 Marktstatistik = Investitionen in Deutschland unabhängig von der Herkunft der finanzierenden Beteiligungsgesellschaft
  8. 8. Seite 8 Im Jahr 2013 angekündigte Transaktionen Größte Buy-Outs in Deutschland Beteiligungs- gesellschaft Unternehmen/Branche Verkäufer Transaktions- volumen/ Kaufpreis in Mio. € BC Partners Springer Science+Business Media Deutschland GmbH / Verlag EQT, GIC Singapur 3.300 CVC Capital Partners Ista Deutschland / Energie- dienstleistungen Charterhouse Capital 3.100 Cinven CeramTec GmbH / Chemie Rockwood Holdings (KKR) 1.490 Hellman & Friedman Scout24 Holding / Medien Deutsche Telekom 1.400 Cinven Host Europe Group / IT-Services Montagu Private Equity 510 Charterhouse Capital Armacell International GmbH / Chemie Investcorp 500 Bain Capital FTE Automotive / Automobilzulieferer PAI Partmers 400 HgCapital P&I Personal und Informatik / IT Carlyle 385 Cinven Heidelberger Lebensversicherung Portigon, Gründerfamilie, Gläubigerbanken 300 Quelle: Pressemitteilungen, Unternehmensmeldungen. Stand: Februar 2014 Nur Transaktionen mit bekanntem Transaktionsvolumen wurden berücksichtigt.
  9. 9. Seite 9 Private Equity ist vor allem Instrument der KMU-Finanzierung Finanzierte Unternehmen 2013 nach Größe nach Beschäftigten nach Umsatz Quelle: BVK-Statistik/PEREP Analytics, Datenstand: Februar 2014 Marktstatistik = Investitionen in Deutschland unabhängig von der Herkunft der finanzierenden Beteiligungsgesellschaft. Berücksichtigt wurden nur Unternehmen mit bekannten Umsatz- (377) und Mitarbeiterzahlen (806). 0-9 39% 10-19 18% 20-99 28% 100-199 7% 200-499 3% >500 5% 0-<1 Mio. € 69% 1-<9 Mio. € 10% 10-<50 Mio. € 10% 50-<100 Mio. € 4% >100 Mio. € 7%
  10. 10. Seite 10 Investitionen nach Bundesländern 1,587 782 690 651 261 142 90 72 53 41 33 32 30 29 20 1 Private Equity-Investitionen in Mio. € Große Transaktionen bestimmen regionale Verteilung Quelle: BVK-Statistik/PEREP Analytics, Datenstand: Februar 2014 Marktstatistik = Investitionen in Deutschland unabhängig von der Herkunft der finanzierenden Beteiligungsgesellschaft.
  11. 11. Seite 11 Fundraising deutscher Fonds Fundraising auf dem Niveau der Jahre 2009/2010 Quelle: BVK-Statistik/PEREP Analytics, Datenstand: Februar 2014 2,710 5,164 3,708 1,670 1,274 1,983 2,875 2,820 4,532 2,561 1,191 1,217 3,303 1,974 1,096 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Fundraising in Mio. €

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