Proventis Partners advises Bilfinger SE on the sale of Bilfinger Rohrleitungsbau GmbH

Hamburg, 1 June 2021 – Bilfinger divested its subsidiary to ERBUD Holding Deutschland GmbH in a share deal.

The Transaction

As part of the strategic positioning of its engineering & maintenance segment, Bilfinger SE decided to divest Bilfinger Rohrleitungsbau. In a controlled sales process, which was led by Proventis Partners as M&A advisor, the Polish construction group ERBUD S.A. acquired Bilfinger Rohrleitungsbau, enabling it to significantly expand its market presence in Germany as well as its industrial services capabilities. Going forward, Bilfinger Rohrleitungsbau will operate as a 100% subsidiary of ERBUD Holding Deutschland GmbH and will be renamed IKR GmbH, returning to its original brand.

The Role of Proventis Partners

Proventis Partners acted as exclusive M&A advisor to Bilfinger and supported its client throughout the entire transaction. Services included the preparation of transaction documents, identification of suitable investors, execution of a structured sales process, coordination of the due diligence process and commercial SPA negotiations. The Proventis Partners transaction team: Ulrich Schneider (Partner, Hamburg), Dr. Christoph Studinka (Partner, Zurich), John Juergens (Director, Hamburg), Lars Bechert (Senior Associate, Zurich), Artur Maibach (Associate, Zurich).

About Bilfinger Rohrleitungsbau GmbH

Bilfinger Rohrleitungsbau GmbH provides construction, design, dismantling as well as assembly work of all kinds of piping systems for chemical, petrochemical, energy, steel and other industrial facilities with sales of around EUR 39 million in 2020 and approximately 270 employees.

About Bilfinger SE

Bilfinger is a leading international industrial services provider with two main business segments, being engineering & maintenance and technologies. Bilfinger is primarily active in Europe, North America and the Middle East. With its approximately 29,000 employees, the Bilfinger generated revenues of EUR 3.5 billion in the 2020 financial year.

About ERBUD S.A

Listed on the Warsaw Stock Exchange, ERBUD S.A. is one of the largest Polish construction groups, with a market presence of over 30 years, both in Poland as well as Western Europe. ERBUD specializes in building construction, civil engineering and road construction, as well as industrial and energy construction, and in recent years has completed a large number of prestigious and technically demanding major projects. In 2020, the Group achieved a turnover of approximately PLN 2.3 billion.

About Proventis Partners

Proventis Partners is a partner-managed M&A advisory firm whose clients include a majority of medium-sized family-owned companies, group subsidiaries as well as private equity funds. With more than 30 M&A advisors, Proventis Partners is one of the largest independent M&A advisors in the German-speaking region and looks back on 20 years of M&A experience and more than 300 completed transactions. The M&A consultants with offices in Zurich, Hamburg, Cologne and Munich are active in the sectors Industrials & Chemicals, Business Services, Consumer & Retail, TMT, Healthcare and Energy & Sustainability. The exclusive membership in Mergers Alliance – an international partnership of leading M&A specialists – enables Proventis Partners to support clients in 30 countries in the most important markets worldwide. The members of Mergers Alliance, with over 200 M&A professionals, provide Proventis Partners and thus its clients with unique access to local markets in Europe, North America, Latin America, Asia and Africa.