AURELIUS subsidiary B+P Gerüstbau acquires construction and specialty scaffolder BSB Group
- Logical strategic add-on acquisition in the context of B+P’s expansion strategy
- The transaction solves the previous owner’s succession problem
- Capabilities expanded to include bridge renovation, and clear synergy potential
Munich, August 16, 2016 – B+P Gerüstbau GmbH, a subsidiary of AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8), acquires Bau- und Spezialgerüstbau Franke & Wagner Gruppe (“BSB Group”) from the previous managing partners as part of a succession solution. BSB Group, a construction and specialty scaffolder with its headquarters in the Thuringian city of Schmölln and a branch in the North Rhine-Westphalian city of Kaarst, generated a total operating performance of EUR 11 million in 2015, with more than 70 employees. The parties agreed to keep the financial details of the transaction secret.
BSB Group is a leading provider of scaffolding services, with specialized expertise in the design and construction of specialty scaffolding for complex construction projects. The company’s core competencies are specialty scaffolding concepts for projects involving the preservation of historical monuments and bridge renovation. BSB Group has supplied complex scaffolding structures for many prestigious renovation projects, including Schloss Neuschwanstein and the Theatinerkirche in Munich. The geographically broad footprint of BSB Group, with branch offices in western and eastern Germany, complemented by a strong project presence in southern Germany, makes an ideal addition to B+P Gerüstbau, which has a strong presence in the Berlin region.
Acquired by AURELIUS Equity Opportunities in August 2014, B+P Gerüstbau is the market leader in the segment of scaffolding and construction site services in the Berlin greater metropolitan area, where it serves mainly public-sector entities as an expert in demanding large-scale projects. In the context of B+P‘s expansion strategy, the add-on acquisition of BSB Group is a logical step in the direction of a Germany-wide presence. The acquisition will also enable B+P to build up its capabilities in the extremely attractive segment of public infrastructure projects, particularly including bridge restoration. The acquisition also creates synergistic potential in the areas of procurement and administration.
“The acquisition of BSB will enable us to tap attractive new markets, both on the product side and geographically. As part of this succession solution, we offer BSB Group not only continuity, but also the chance for progress in cooperation with B+P,” said Alexander Steinberg, Managing Director of B+P.