Fritzboxes: Luxembourg investor takes over AVM
AVM has completed its search for a new owner. Behind this is an investor from Luxembourg.
AVM's iconic Fritzbox design will in future belong to an investment company from Luxembourg.
(Image: AVM)
The Austrian Federal Competition Authority has given the go-ahead, and now AVM has confirmed it: The investor Imker Capital Partners is taking over the German manufacturer, which is primarily known for its Fritzboxes, Fritz repeaters and DECT telephones.
The founders and previous owners will only retain a minority stake and will officially remain as shareholders and advisory board members. De facto, they are retiring. It is not known how much money will be paid for the AVM takeover.
AVM writes in its own press release: "With Imker Capital Partners (Imker), the company has a new long-term investor. Imker is a European family office." Family offices are companies that manage (sometimes huge) family assets.
Johannes Nill, CEO and Spokesman of the Management Board: "We have taken an active and systematic approach to the generational change in order to continue AVM's success. We are delighted to welcome Imker as a new investor as they share our vision for the future of AVM. Imker's commitment is an important milestone in the history of our company and will further enhance AVM's ability to provide innovative solutions."
The acquisition will be completed on September 01, 2024. From then on, AVM says it is aiming for growth through new products and increased internationalization - so far, the company is mainly present in German-speaking countries.
Luxembourg takeover
For the AVM takeover, the subsidiary Youco B24-H213 Vorrats-GmbH became Spree 24 Beteiligung GmbH, which now officially has the same address as AVM: Alt-Moabit 95, 10559 Berlin. Spree 24 Beteiligung GmbH belongs to Rucio Investment S.à r.l., which in turn belongs to Imker Capital Partners from Luxembourg.
We originally wrote that Imker belongs to the investment giant CVC Capital Partners - the world's fourth-largest private equity investor according to Private Equity International, with assets under management of EUR 186 billion. Formally, however, they are separate companies owned by the van Rappard family: CVC was co-founded by Rolly van Rappard and Imker by his son Teun van Rappard. An AVM spokeswoman emphasized to us that AVM will not be taken over by CVC.
Imker's larger holdings include SAP Fioneer (software solutions for financial service providers) and Mollie (payment service providers and financial management).
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