Background

  • OTTO Luft- und Klimatechnik GmbH & Co. KG (OTTO) is one of the leading companies for technical building services, facilities management, industrial cooling technology and energy services in Germany
  • As of 2018, the company generates annual revenues of approximately €120 million and employs 700 people, including a high proportion of technical and assembly staff
  • Equistone acquired its majority shareholding in the family-owned business in 2014, with Hartmut Otto Jr. remaining invested in the business as son of the founder. As a reliable partner with access to capital, Equistone worked with management to successfully extend the company’s growth trajectory during its investment period
  • The business strengthened its presence through the opening of multiple new locations in Germany. In addition, OTTO continuously outperformed market growth, increasing revenues and output by more than 50% and doubling employee count in a technical skills-based market, whilst still retaining the “Mittelstand” company culture characterised by responsibility to, and trust between, colleagues and customers

Outcome

  • The transaction illustrates DC Advisory’s long-standing experience in the building technology and related services sector and underlines our strong access to corporate investors and the expertise in successfully completing cross-border transactions
  • The financial terms of the transaction are undisclosed and completion of the sale remains subject to the approval of the relevant competition authorities

OTTO’s unique family culture and long-term orientation enables the company to attract, develop, and retain highly skilled employees. Together with its commitment to delivering best quality, OTTO has been able to grow above market.

Wolfgang Kazmierowski
Managing Director at DC Advisory

A growing complexity within technical building installations, rising energy efficiency standards, and a growing demand for air solutions will provide a prosperous future for OTTO.

Carsten Burger
Managing Director at DC Advisory