AURELIUS sells KWE Group to Austrian Kresta Group
- Sale of KWE Stahl- und Industriebau GmbH & Co KG to strategic investor
- High potential for synergies for KWE as well as for buyer Kresta
- Business model of AURELIUS Group successfully demonstrated
AURELIUS AG has sold its portfolio company KWE Stahl- und Industriebau GmbH & Co. KG including its wholly owned subsidiary KWE Ludwigshafen GmbH to Kresta Group, St. Andrä (Austia). As steel and plant construction company Kresta is a specialist in tank, steel and pipeline constructions.
KWE - headquartered in Wesseling (Cologne) - is one of the leading German steel construction service providers for the Chemicals industry, mainly serving its clients on-site with plant construction and maintenance engineering services for structural steel works. In 2007, KWE generated sales of approximately EUR 26 million and currently employs approximately 110 staff at 12 operating sites all over Germany. After the successful completion of operational restructuring measures led by AURELIUS since 2006 the course is set for a successful development of KWE.
Gert Purkert, Member of the Managing Board of AURELIUS AG, is pleased with the outcome of the selling process: 'After the successful completion of the realignment, we decided to accept an offer from a strategic partner, who will expand business further.'
The integration of the service business and established customer base of KWE into Kresta Group’s steel project activities will be an advantage particularly for customers and employees of KWE as well. Franz Kreutzer, General Manager and founder of Kresta, is convinced: 'This will provide further cross-selling and sales increase potentials for both KWE and for us. Our profound experience in the project business will offer new possibilities to KWE. The acquisition will be of great benefit for both companies.'
Through the acquisition of KWE, Kresta will further strengthen its product portfolio in the area of service business and will get access to customers from the Chemicals industry. Targeting existing markets and customers with complementary pipeline construction services will enhance further growth of KWE.