Automotive: Case Study
Formel D

Formel D is an Automotive-Service-Provider (approx. 2,500 employees, €130 million turnover) with focus on quality confirmation services and technical documentation. With more than 20 subsidiaries, Formel D is globally active in more than 60 locations. All premium OEMs and many of their tier-1-suppliers are customers of Formel D. Moreover, the company is also active in divisions such as wind energy.

The delivery of quality confirmation services is the core of Formel D’s business, both during the launch phase of new passenger car models and during mass production. The origin of the 1993 founded company was in the field of complex technical documentation.

The company founders and sole shareholders mandated C▪H▪Reynolds with the search for a partner in a succession planning process. The search for a majority investor for Formel D required the confidential approach of selected possible investors on a global scale. The transaction process should have as little impact on the operative business as possible. At the same time, approached parties had to be able to support the international growth potential of the Formel D group. In 2013, Deutsche Beteiligungs AG Fund V and the MBO team, consisting of four longstanding Formel D-Group Managing Directors, acquired the company. The founders retained a minority share.