Deutsche Beteiligungs exits SAF

Otto Sauer Achsenfabrik (SAF), a German maker of axles and suspension systems for HGV trailers, has been sold by its owners Deutsche Beteiligungs AG and DBAG Fund IV.

The business was acquired by the management team of SAF, SAF founder Ulrich Otto Sauer and Pamplona Capital Management for an undisclosed sum.

Deutsche Beteiligungs took a minority stake in SAF in 1997, when it was known as Sauer, and in the spring of 2004 took a majority holding, alongside co-investment fund DBAG Fund IV and SAF’s management.

Since 1997, the company’s revenue has grown from €120m to over €330m in 2005, an average annual growth rate of almost 14%.