BELGRAVIA & CO., an international and independent M&A and Corporate Finance advisory firm based in Cologne, exclusively advised GETEC heat & power AG (“GETEC”, www.getec-heat-power.de) on its acquisition of Emmtec Industry & Business Park (“Emmtec” in Emmen/Netherlands) from Vattenfall’s subsidiary Nuon.
The closing of the transaction is subject to customary closing conditions including antitrust approval and is anticipated to occur by end of the year. Terms of the transaction were not disclosed.
With 115 hectares, Emmtec is the second largest industry park of its kind in the Netherlands, as well as one of the largest employers of the Emmen region, employing over 1,300 people from different companies. The industry park is focused on (bio) polymers and fibres where it holds a leading position in Europe. Emmtec’s ca. 200 employees will be transferred to the new owner.
"The acquisition of Emmtec represents an important step in GETEC heat & power AG's corporate strategy", explains Volker Schulz, CEO of GETEC heat & power AG. "It will strengthen our operations in the European market and will significantly enhance our competencies for the chemical industry. BELGRAVIA & CO. provided us with invaluable help and guidance throughout the acquisition process and secured an excellent outcome for GETEC. Their extensive international transaction experience helped us navigate through every step of the process. "
BELGRAVIA & CO. acted as exclusive financial advisor to GETEC heat & power AG on this transaction.
Emmtec industry park has been in existence for over 60 years. In 2002, Nuon acquired the industry park from AKZO. The park now provides services to companies including Teijin Aramid, DSM, and Bonar. Emmtec produces and supplies energy and utilities (electricity, gas, steam, water) and related services such as sewage treatment, engineering, logistics and laboratory services. Emmtec has some 200 employees. www.emmtec.nl/de
Nuon, a subsidiary of Swedish energy group Vattenfall, is an energy company with more than 4,400 employees serving approximately 2 million household customers, companies and organizations in the Netherlands. Nuon generates and supplies gas, electricity, energy-related products, heat and cooling and helps customers reduce their energy consumption. In the Netherlands, Nuon operates 2,000 km of heat pipes for district heating, 251 wind turbines, 2 hydroelectric power stations, 1 biomass powered plant, 9 high-yield gas power plants and one coal-fired plant. www.nuon.nl
About GETEC heat & power AG
The energy service provider was founded in Magdeburg in 1993 and has established itself as market leader for energy service contracting, the provision of energy services and supply. GETEC operates throughout Germany, as well as in Austria, Hungary, Switzerland, the Benelux states and the Czech Republic. With the help of more than 1,500 plants already built, GETEC heat & power AG supplies industrial clients and complex properties with heat, steam, cold and electricity. GETEC heat & power AG is part of GETEC Group and, together with other GETEC affiliates, offers a wide range of individual services in the liberalized energy market. www.getec-heat-power.de