BELGRAVIA & CO., an international and independent M&A and Corporate Finance advisory firm with offices in Cologne and New York City, exclusively advised STEAG New Energies GmbH (“STEAG New Energies “, www.steag-newenergies.com), on the acquisition of 70 percent of the compressed air contract business including the associated business from Karl Uhl GmbH („Uhl“, www.uhl-druckluft.de). The associated contracting full-service-rental and full-service business will be continued and further expanded via the newly founded company "STEAG UHL Druckluft-Versorgung GmbH", in which Uhl holds a 30 percent share. The transaction took place by way of an asset deal.
The strategic objective of the joint company is to substantially expand its compressed air contracting business in Germany by combining the strengths of both partners. STEAG New Energies has extensive know-how and many years of experience as a planner, builder and operator of power generation plants and, as a specialist for decentralised energy solutions, brings its expertise in energy services and energy efficiency to the new company. As a leading company for compressed air technology, Uhl will contribute its know-how and, as a service provider, take over the detailed technical planning and support of new and existing contracts for the new company.
With the acquisition of a majority stake in the compressed air contract business, STEAG New Energies is setting an important milestone on the way to further expanding its product range in the areas of efficient power generation and energy services for industrial customers. As an integrated supplier of energy and compressed air solutions, STEAG New Energies is in a position to offer its customers tailor-made individual compressed air solutions.
With Bochum-based Karl Uhl GmbH, STEAG New Energies is teaming up with a highly specialized partner. The family-owned company has been successfully active in the market for over 90 years and, as a full-service provider of compressed air systems, offers all services from a single source. The product range extends from compressed air generation to the ventilation of compressed air systems and heat recovery. Special attention is paid to an individual, energetically optimal system concept, for which a binding energy forecast and availability guarantee is also provided. Uhl’s customer service rounds off the comprehensive range of services with the monitoring and maintenance of all systems components.
The parties have agreed not to disclose the purchase price.
BELGRAVIA & CO. acted as exclusive financial advisor to STEAG New Energies on this transaction. The team of BELGRAVIA & CO. consisted of Dr. Hans Christian Zanders (Partner), Dr. Christopher Picot (Director) and Paschalis Servos (Analyst).