AURELIUS Mittelstandskapital acquires Berlin-based scaffold builder B + P
- First transaction for AURELIUS Mittelstandskapital
- Successful company joins with financially strong partner for further expansion
Munich, August 18, 2014 – The recently formed AURELIUS subsidiary AURELIUS Mittelstandskapital will purchase a majority interest in B+P Gerüstbau GmbH from its Managing Director and owner Alexander Steinberg. For 35 years, B+P Gerüstbau has operated as a specialist in scaffold building and in services related to building site facilities and logistics. The experienced management team headed up by Mr. Steinberg will continue to manage the company and hold a significant investment in it. AURELIUS Mittelstandskapital will support the continued growth and transregional expansion of the company. The parties agreed to keep the purchase price confidential.
B+P is the market leader in the Berlin market. It is one of the few companies in Germany to possess the capacity and technical capabilities to set up even the most complex scaffold designs. In its “PLUS-Services” Division, B+P also provides construction-related services, including building site power and water supply. Most recently, it generated annual revenues of around EUR 18 million. B+P has been involved in nearly all major governmental projects in Berlin. In addition, B+P supports numerous medium-sized and small projects. It has a stable customer base consisting of both well-known construction companies and public-sector project owners. In the future, B+P will continue to benefit from a well-filled pipeline of major projects in the local market. Furthermore, it can exploit additional synergy potential by expanding its “PLUS-Services” business. “AURELIUS Mittelstandskapital is exactly the right partner to help us continue our success story. The combination of our technical expertise with the capital strength of AURELIUS Mittelstandskapital creates a strong team that will further advance the business of B+P,” said Alexander Steinberg, ownerand Managing Director of B+P. “I am looking forward to successfully managing the company in the future as well, together with my management colleagues for many years.”
“We look forward to successfully developing B+P’s business in cooperation with the management team headed up by Alexander Steinberg,” said Donatus Albrecht, the AURELIUS Executive Board member in charge of transactions. “B+P is a successful medium-sized enterprise with a strong management team. That is exactly what we are looking for. With our financial strength and entrepreneurial experience, we can be even more successful together,” said Carsten Abdel Hadi, Managing Director of AURELIUS Mittelstandskapital. In this transaction, B+P and its Managing Partner Mr. Steinberg were advised exclusively by Mummert & Company, a leading mid-cap M&A advisory firm in Germany, Austria and Switzerland.