Houlihan Lokey Advises DPE on the Sale of Engelmann Sensor

Houlihan Lokey is pleased to announce that funds advised by DPE Investment Gesellschaft mbH (DPE) have agreed to sell their portfolio company Engelmann Sensor (Engelmann) to Rivean Capital (Rivean). The exit from DPE Fund IV marks the successful conclusion of a strong growth phase. Terms of the transaction have not been disclosed.

Founded in 1976 in Wiesloch-Baiertal, Engelmann offers a comprehensive portfolio of products and services, including heat, cooling, and water meters, electronic heat cost allocators, gateways, software, and data services. The company delivers several million devices annually to customers worldwide, helping them comply with EU Energy Efficiency Directive requirements and enabling accurate, consumption-based billing.

The global submetering market is experiencing strong growth dynamics. Rising demand for energy-efficient solutions in multi-tenant buildings and increasing connectivity of submetering systems, including real-time data analysis, consumption optimisation, and integration into smart home and district solutions, offer Engelmann long-term growth prospects. In recent years, the company has established itself as a leading provider of smart submetering technologies.

DPE is an independent investment firm that supports midsized companies on their growth path as a partnership-oriented investor. Over the past 18 years, DPE has become one of the largest growth investors in the DACH region, currently managing assets of more than €3 billion. The core of DPE’s investment strategy focuses on the areas of digitalisation/software, healthcare, industrial technology, B2B services, energy, and environmental technology. DPE focuses on companies in Germany, Austria, and Switzerland, and typically invests between €50 million and €200 million of equity per company.

Rivean is a leading European private equity investor for middle-market transactions, active in the DACH region, the Benelux countries, and Italy. Since its inception in 1982, Rivean has supported more than 250 companies in realising their growth ambitions, boasting a strong track record of supporting and scaling successful high-tech businesses with cross-border growth agendas, including footprint expansions and operational excellence trajectories. Headquartered in Amsterdam, Netherlands, Rivean also has offices in Brussels, Frankfurt, Milan, and Zug.

With Rivean, Engelmann is now entering its next growth phase—with management remaining invested. The purchase price of the transaction remains undisclosed. The transaction is subject to the usual conditions, including approval by the competition authorities.

Houlihan Lokey served as the exclusive sellside advisor to DPE.

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