The sale of the operating entities in Europe and the U.S. to OEP will enable the entities to strengthen its growth strategy in providing industrial services to the core industries of wind energy, maritime and infrastructure. In addition, the entities will benefit from OEP’s strength to drive investments forwards, especially through strategic add-on acquisitions. Muehlhan has successfully leveraged its know-how to built a broad service portfolio in markets capitalizing on the decarbonization of energy production on the road to the net zero targets by 2050, OEP will benefit of.
Headquartered in Hamburg, Germany, and listed in the Open Market segment of Frankfurt Stock Exchange, Muehlhan provides a broad range of industrial services including wind turbine services, surface protection, steel services, passive fire protection, scaffolding and insulation works. The sale includes the Muehlhan companies in Germany, Denmark, France, Cyprus, Greece, Poland, Romania, Bulgaria, Norway, the Netherlands and the U.S. In total, the entities have a combined revenue of EUR 191m and employ 1,700 staff.
Closing is expected to take place in the first quarter of 2023 at the latest. It is subject to customary market conditions, in particular regulatory approvals and the approval of the company’s Annual General Meeting. The Executive Board and Supervisory Board will convene an Extraordinary General Meeting in the near future.
About One Equity Partners
One Equity Partners is a middle market private equity firm with approximately $10 billion in assets under management focused on transformative combinations within the industrial, healthcare and technology sectors in North America and Europe.