DC Advisory acted as exclusive financial advisor to Adiuva Capital on the sale of HWP|Handwerkspartner to Goldbeck Robens Industrial Partners

Background

• Adiuva Capital is an independent private equity investor based in Hamburg and a successful growth partner to mid-sized enterprises in the German-speaking regions

• Headquartered in Germany with nearly 1000 employees, HWP Handwerkspartner AG (HWP|Handwerkspartner) is a leading full-service contractor platform for finishing trades including painting and decorating works, technical building services as well as building protection services

• Goldbeck Robens Industrial Partners (GRIP) is an investment vehicle of the Goldbeck family and Björn-Hendrik Robens

• Goldbeck represents the largest family-owned German construction firm with a total output of c. EUR 5bn and more than 100 locations across Europe

• Björn-Hendrik Robens is a highly experienced investor specialized in developing market leaders

Process

• DC Advisory (DC) was exclusively engaged by the shareholders as a sell-side advisor to identify the right partner to support HWP|Handwerkspartner’s future growth ambitions
• DC utilized its comprehensive knowledge of marketing buy and build platforms in combination with its deep insights into the European finishing trades and building technology market to orchestrate a competitive process and to secure a compelling partner
• DC’s continuous support enabled HWP|Handwerkspartner to close a total of three significant add-on acquisitions in parallel with the actual sell-side process
• Against the backdrop of the overall macro environment and deteriorating financing markets, DC provided full support and comprehensive strategic advice on all aspects of the transaction via leveraging its M&A and debt advisory capabilities

Outcome

• Adiuva Capital sold the majority stake of HWP|Handwerkspartner while all existing board members remained minority shareholders
• GRIP is a complementary and financially strong partner to support HWP|Handwerkspartner’s technological, professional and economic growth – further increasing efficiency and sustainability in the German craft sector
• The acquisition is in line with GRIP’s key investment focus on differentiated business models with the potential to achieve leading positions in growing markets
• The transaction is subject to customary closing conditions and the purchase price remains confidential

• This transaction underlines DC’s comprehensive track record and deep insights in the building & energy technology sector and in advising on buy and build growth platforms

• The transaction is subject to customary closing conditions and regulatory approval, the purchase price remains confidential