EQT Infrastructure Enters Strategic Partnership With GETEC
07 Dec, 2016, 10:43 GMT
STOCKHOLM, Sweden, Dec 7, 2016 /PRNewswire/ --
- EQT Infrastructure to acquire a majority shareholding in three subsidiaries of GETEC ENERGIE HOLDING GmbH
- EQT Infrastructure to support continued development of the subsidiaries GETEC heat & power AG, GETEC WÄRME & EFFIZIENZ AG und GETEC media AG
- Partnership creates strong platform to build upon market position and continue geographical expansion
The EQT Infrastructure investment strategy ("EQT Infrastructure") has entered a strategic partnership with GETEC. The partnership will jointly develop the companies GETEC heat & power AG, GETEC WÄRME & EFFIZIENZ AG und GETEC media AG (together "the Companies") under a newly formed joint venture company. EQT Infrastructure will own 60 percent of the joint venture company.
GETEC was founded by Dr Karl Gerhold in 1993 and is today one of the market leaders in energy services in Germany. The GETEC brand stands for tailor-made, efficient and sustainable energy solutions, implemented by a group of highly qualified engineers. The group currently operates around 1,050 decentralized energy production plants in Germany. In 2015, GETEC reported sales of EUR 783 million and employed 1,165 people.
The aim of the partnership is to further strengthen and expand the activities of the jointly owned Companies. The strategy includes identifying and capturing growth opportunities both in Germany and by expanding into neighboring markets.
Dr Karl Gerhold, owner and Managing Director of GETEC said: "We are happy to partner with such an experienced investor and owner such as EQT Infrastructure. They have a stellar track record of developing companies and their experience and network of industrial experts in the energy sector is impressive. Together, we believe we now have the very best prerequisites to make the Companies even stronger."
Matthias Fackler, Partner at Investment Advisor EQT Partners, said: "Decentralized energy production is a crucial element of the new energy market and its importance will continue to increase in the future. GETEC is very well placed to profit from this trend thanks to a strong market position and outstanding technical capabilities. We are very much looking forward to support further development of the Companies and to explore expansion opportunities together with Dr Gerhold and the existing GETEC management team."
The transaction is subject to merger clearance from European competition authorities and is expected to close in the first quarter of 2017.
Contacts:
Matthias Fackler, Partner at EQT Partners in Germany, Investment Advisor to EQT Infrastructure, +49 89 2554 99520
Kerstin Danasten, EQT Press Officer, +46 8 506 55 334
About EQT
EQT is a leading alternative investments firm with approximately EUR 30 billion in raised capital. EQT Funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 15 billion and approximately 100,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
More info: www.eqtpartners.com
About the GETEC companies
GETEC heat & power AG offers energy service solutions for industrial customers, municipalities and large complex real estate owners. As part of its business the company develops, builds, finances and operates innovative and highly efficient energy production plants.
GETEC WÄRME & EFFIZIENZ AG offers energy service solutions for real estate owners and operators. This includes residential, commercial and public real estate, hotels as well as social buildings such as hospitals or care homes.
GETEC media AG offers telecom services as well as implementation and operation of data transport infrastructure for the real estate sector.
More info: www.getec.de
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SOURCE EQT AB