Altor Fund V (“Altor”) and SMS Group have jointly signed an agreement to invest in KAEFER Isoliertechnik GmbH & Co. KG (“KAEFER”) for a 50% shareholding. Altor partners with family- owned SMS and the family shareholders of KAEFER to support the continued internationalization and excellence programs at KAEFER.
KAEFER holds a leading position as a globally active asset integrity services and solution provider, with an annual turnover of around €1.8 billion. Headquartered in Bremen, Germany, the Company has built a strong reputation with clients around the world for its best-in-class craftsmanship and quality over its more than 100 years history as a family-owned business.
Altor and SMS jointly invest in a capital increase and acquire shares for 50% shareholding in KAEFER. They will partner with the KAEFER shareholder family and the management team in shaping the company for sustainable growth and drive excellence programs. With the additional equity investment, KAEFER will scale its solid platform through M&A and invest in expanding its services in industries benefitting from sustainability developments such as decarbonization and energy transition.
SMS is a German family-owned company, headquartered in Duesseldorf. It has outstanding expertise within the metals sector and brings 150 years of experience in industrial project business, innovation and digital know-how.
Moritz Koch, Head of the KAEFER shareholder family and Chairman of the KAEFER Advisory Board, noted that “This is a key milestone for KAEFER in shaping our future and opening a new chapter of our company history. SMS and Altor have been diligently selected and are our real partners of choice as long-term oriented and family shareholders. I am fully convinced that this partnership will further strengthen our business and will position KAEFER very favourably to play an active role in an ever more competitive market environment.”
“Our clients will continue to receive the same high-quality and reliable services plus the extra value offered by all partners working together to increase our competitive strength” says Dr Roland Gärber Co-CEO Operations at KAEFER. “We are certain that this is an excellent step towards reaching the goals of our strategic programme and beyond”, adds Steen E. Hansen, Co-CEO Finance at KAEFER.
“We are truly impressed by the business that KAEFER has built over more than a century. The company has consistently delivered excellence globally” says Giovanna Maag, Partner at Altor, “We are humbled to be able to partner with the two prestigious German family companies SMS and KAEFER. Together we will invest in KAEFER’s strategic roadmap to continue succeeding internationally, and we look forward to working with the family and the management team.”
The agreement is still subject to customary regulatory clearance.