Proventis Partners has acted as M&A advisor to Catastrophe Solutions International, Inc. on the sale of adomea GmbH to TUV Rheinland

The Transaction

Catastrophe Solutions International, Inc., (,,CSI”), a US-based automobile repair services group, has sold its German subsidiary, adomea GmbH, to TUV Rheinland, a global leader in independent inspection services.

For TUV Rheinland, the acquisition of adomea is another investment into the digitalization of its mobility service offering. The MIKo system, developed by adomea, enables a complete and detailed image of a vehicle’s surface. The system is used by leading car insurance companies globally to assess hail damages. Further applications include the efficient and objective assessment of leasing or rental cars as well as other large vehicle fleets.

The Role of Proventis Partners

Proventis Partners has acted as M&A advisor to CSI during the entire transaction process. Services included the preparation of the relevant corporate documentation, identification and approach of international investors as well as the coordination of the due diligence. Proventis accompanied CSI throughout the SPA negotiations until closing.

Proventis Partners was able to assist CSI in finding an ideally positioned buyer for adomea, that is capable of further developing the its technology and potential. Based on its international M&A experience, Proventis Partners successfully moderated the dialogue between a US-based seller, its German subsidiary and a global market leader.

About adomea

Adomea, founded in 2011 by students of the Technical University Dortmund, was acquired by CSI in 2013. The company developed a proprietary technology for the mobile and automated detection of vehicle surface damages. Based on the so-called stripe reflection technology, the mobile scanner detects even the smallest defects in paint and bodywork, such as dents, scratches, or stone chips. Depending on their characteristics, the system divides these surface defects into different classes and assigns them to the individual vehicle segments. The result: a transparent, objective and fast vehicle evaluation that makes subsequent discussions redundant.

About TÜV Rheinland

TÜV Rheinland is a global leader in independent inspection services, founded 145 years ago. The group maintains a worldwide presence of more than 20,000 people; annual turnover is nearly EUR 2 billion. The independent experts stand for quality and safety for people, technology and the environment in nearly all aspects of life. TÜV Rheinland inspects technical equipment, products and services, oversees projects, and helps to shape processes and information security for companies. Its experts train people in a wide range of careers and industries. To this end, TÜV Rheinland employs a global network of approved labs, testing and education centers. Since 2006, TUV Rheinland has been a member of the United Nations Global Compact to promote sustainability and combat corruption.

About Proventis Partners

Proventis Partners is a partner-managed M&A advisory firm whose clients include mainly corporate groups, medium-sized family businesses and private equity funds. With 30 professionals, Proventis Partners is active in the sectors Industrials, Business Services, Consumer & Retail, TMT, Healthcare and Energy and covers the German-speaking region with offices in Hamburg, Cologne, Munich and Zurich. Through its exclusive membership in Mergers Alliance – the international partnership of leading M&A specialists – Proventis Partners offers local market coverage in the 30 most important economies globally. The 20 members of the Mergers Alliance, with more than 200 M&A professionals, offer Proventis Partners and our client’s unique access to local markets in Europe, North America, Latin America, Asia and Africa.