MCF advised the majority shareholder of H. Anger’s Söhne on the sale of his stake to Herrenknecht AG
The majority stake in H. Anger’s Söhne Bohr- und Brunnenbau GmbH (“HAS”), a leading German deep drilling provider specialised in deep geothermal wells, has been sold to Herrenknecht AG, the worldwide market leader for heavy tunnel boring machines.
HAS’ expertise will help Herrenknecht AG to expand its product and service range in the field of automated drilling rigs and drive forward the heat & energy transition in Germany as well as simplify the access to natural resources.
In this Industrials transaction, MCF advised the majority shareholder of HAS and helped facilitate the deal through its proven ability to successfully originate and execute bilateral transactions.
The Deal
Two owner-run family companies are combining their expertise: Herrenknecht AG is acquiring two thirds of the shares in H. Anger’s Söhne Bohr- und Brunnenbaugesellschaft mbH with retroactive effect from January 1, 2023. The Hessisch Lichtenau-based drilling contractor is well known for safely and successfully drilling several challenging geothermal wells. “An ideal addition to our product range in the field of automated drilling rigs,” emphasises Dr.-Ing. E.h. Martin Herrenknecht, CEO of Herrenknecht AG. “We will use the shared entrepreneurial and engineering DNA to drive forward the heat transition and simplify access to natural resources.”
In Germany alone, 50 percent of heat generation should be climate-neutral by 2030. As a non-fossil energy source with its constant availability, geothermal energy is key to achieving this goal. According to the German government’s plans, the expansion and use of this heat source is therefore to be prioritised in the coming years, which will result in a need for new drilling rigs, equipment and drilling services.
The Target
Established in 1863, H. Anger’s Söhne has become one of the leading companies in the German drilling industry. The company employs c. 150 people and specialises in drilling geothermal wells to depths of up to 7,000 meters. In addition to geothermal energy, projects are carried out for reservoir and subsurface investigations. The company’s main range of services also include well construction for drinking, mineral and thermal water.
About Herrenknecht AG
Herrenknecht AG is the worldwide market leader for heavy tunnel boring machines. With c. 5,500 employees, the company has 82 subsidiaries around the world and has worked on more than 2,600 projects, generating annual revenue of more than EUR 1.1bn. The Company was founded by CEO Dr Martin Herrenknecht in 1975.
