09.11.2015

Complete Divestment of 360 Treasury Systems AG to Deutsche Börse AG

Frankfurt am Main, 15 October 2015 – Brockhaus Private Equity, an independent private equity firm with a focus on medium-sized German innovation and technology leaders, announces the closing of a divestment: The fund Brockhaus Private Equity II is selling its current 10.7% stake in 360 Treasury Systems AG (360T) – a leading provider of web-based trading technology for OTC financial instruments, particularly for FX trading – to Deutsche Börse AG.

Brockhaus Private Equity II first acquired a stake in 360T as early as 2009 and remained an investor after the firm’s acquisition by Summit Partners in 2012, having subsequently reduced its shareholdings from 24% to 10.7%. In addition to the stake held by Brockhaus Private Equity II, Deutsche Börse AG is acquiring all shares held by other shareholders, including Summit Partners, Carlo Kölzer as founder of 360T as well as other members of 360T’s management team. The transaction is based on an enterprise value of € 725 million, making it one of the biggest German private equity deals in 2015. The total investment of Brockhaus Private Equity II in 360T from 2009 to date is € 25.6 million and will result with closing of the transaction in total proceeds of approx. € 123,7 million, equaling a gross multiple of 4.8x and a gross IRR of 82%.

“360T is one of Germany’s most remarkable corporate success stories in recent years, and we are very pleased by the fact that we discovered this extraordinary investment early on and actively sparred with the management around the founder and CEO Carlo Kölzer,“ explains Marco Brockhaus, founder and CEO of Brockhaus Private Equity. “After TecDAX-listed Wirecard, 360T is already the second major fintech investment to bring us overwhelming success.“

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