KAEFER enters new partnership
Industrial services leader KAEFER welcomes SMS group and Altor as shareholders, forming a future oriented partnership with the existing shareholder family
We are delighted to announce that KAEFER will enter into a partnership with the Germany based SMS group (‘SMS’) and the European PE-fund Altor Fund V (‘Altor’) domiciled in Sweden, who, together, will become a 50% shareholder in KAEFER. The new shareholders will partner with the current KAEFER shareholder family who will continue to hold the remaining 50% in KAEFER. The investment agreement, which also provides for a cash contribution into KAEFER by Altor and SMS, has been signed by the owner family, Altor and SMS on 08 December 2021. The agreement is still subject to customary regulatory clearance.
KAEFER holds a leading position as a globally active asset integrity services and solution provider. Headquartered in Bremen, Germany, the Group has built a strong reputation with clients around the world for its best-in-class craftsmanship and quality over its 100+ years history as a family-owned business. With this partnership, KAEFER is well positioned to succeed in the highly competitive market for technical industrial services. We also plan to develop additional abilities to focus on sustainable developments like decarbonisation, energy transition and LNG, supported by KAEFER’s current family shareholders and our new partners. With the additional cash contribution, we can build on a solid platform for a successful future of our business.
SMS group is a family-owned business headquartered in Dusseldorf, Germany, and globally active in 95 locations. SMS are renowned worldwide for their future-oriented technologies and outstanding expertise within the metals industry. With their 150 years of experience in industrial project business and digital knowhow, SMS will support us in our vision to provide additional value to our clients.
Altor is a family of investment funds focused on developing medium sized companies to their full potential and has a track-record of consistently generating very strong returns and enduring value. Altor strives to make a real difference as a valuable long-term partner for founders and management in building world class companies. Investing in KAEFER, Altor will support global M&A and excellence strategy.
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 the KAEFER family has built over more than a century.” says Giovanna Maag, Partner at Altor, “We are proud to be able to partner with the two 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.”
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