M&A
HIPP TECHNOLOGY GROUP
Acquired by
DEUTSCHE BETEILIGUNGS (DBAG)
GERMANY Life Sciences EV [100m EUR - 500m EUR] 03/2026
HIPP TECHNOLOGY GROUP acquired by DEUTSCHE BETEILIGUNGS (DBAG)
GERMANY Life Sciences EV [100m EUR - 500m EUR] 03/2026
Target
HIPP TECHNOLOGY GROUP
Acquirer
DEUTSCHE BETEILIGUNGS (DBAG)
Context
Deutsche Beteiligungs AG (DBAG) has entered into a definitive agreement to acquire a majority stake in Hipp Technology Group, marking a significant entry into the medical contract manufacturing space. The transaction involves the acquisition of the majority interest previously held by the Swiss investment firm Endura Capital, with the financing provided by DBAG Fund VIII. A critical component of the deal structure is the retention of a significant minority stake by the founder and CEO, Markus Hipp, ensuring leadership continuity and alignment of interests. The strategic rationale for the acquisition is the transformation of Hipp Technology into a central platform for a broader international consolidation strategy. DBAG intends to leverage the company’s technical reputation and prime location in the Tuttlingen MedTech cluster to acquire complementary technologies and expand its global market presence. This "buy-and-build" approach is designed to capitalize on the increasing demand for specialized outsourcing in robotic surgery and orthopedics. The partnership will focus on scaling the current production capacity across its five sites while pursuing inorganic growth opportunities in Europe and beyond, professionalizing the group to serve a larger international client base of medical device manufacturers.
Target
Hipp Technology Group is a highly specialized development partner and Contract Development and Manufacturing Organization (CDMO) for the medical technology industry. The company focuses on the high-precision manufacturing of orthopedic implants, surgical instruments, and complex robotic surgery systems. Beyond its core MedTech focus, Hipp serves high-end industrial sectors including aerospace, semiconductors, and industrial automation. Operating across five sites with approximately 350 employees, the group is a critical "Tier 1" supplier to global medical device OEMs. Its business model relies on deep engineering expertise and the ability to manufacture life-critical components with extreme tolerances, positioning it as a key beneficiary of the trend toward minimally invasive surgery and robotic-assisted procedures.
Ent. Value
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Equity Value
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Multiples Analysis
EV / Revenue
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EV / EBITDA
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EV / EBIT
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Historical Financials (EUR)
Year
Rev
EBITDA
EBIT
2026
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2025
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