An international multi-service provider, the Dussmann Group, Berlin, has agreed to acquire Irish specialist engineering company STS Group (STS). The deal is expected to be closed by the end June 2019 and is subject to approval of the German antitrust authorities.
Dr. Wolfgang Häfele, Dussmann Group Executive Board Spokesman comments on the acquisition: “We recently announced the progression of the “Dussmann Next Level” strategy program, the establishment of a new business unit, Dussmann Technical Solutions, or DTS, and the finalisation of a major strategic acquisition. I am now happy to announce that we have entered into a binding agreement to complete that deal with the acquisition of STS. STS is a high-quality technical services provider, operating across multiple regions with a blue-chip client list. This business will be the cornerstone for the creation of DTS and complement our existing technical engineering services offering, that is refrigeration and air-conditioning with DKA in Germany, and elevator systems with HEBO also in Germany” says Häfele.
Mr. Eddie Walsh, Chairman STS sees great opportunities for STS clients and employees alike: “The combination of STS with the Dussmann Group provides an excellent opportunity for both our clients and the employees of the Company. Our clients will continue to enjoy the same level of superior service, delivering complex technical projects within time and on budget but post acquisition will also benefit from the increased scale and investment as part of a €2.3 bn turnover group. Similarly, our employees will find increased opportunity provided by the ambition of Dussmann for the company and the ability to generate new business in new regions and sectors. Myself, along with the entire senior management team are very happy to become part of the Dussmann Group and are excited by the opportunity that this transaction brings for all our clients and staff alike”.
The STS deal follows the acquisition of Gaetano Paolin, an Italian technical services provider in 2018. Gaetano Paolin installs and services air conditioning, ventilation, refrigeration and heating systems, electrical and mechanical systems and provides servicing and after-sales services. There are also further complementary acquisitions planned.
The transaction, which is subject to approval from the German antitrust authorities, is expected to be closed by the end of the first half year 2019. All the senior management of STS have agreed to stay with the Dussmann Group after the acquisition to guarantee continuity.
The Dussmann Group
The Dussmann Group has 66,122 employees in 17 countries. The largest service division, Dussmann Service, provides technical services, catering, security, reception, cleaning, surgical sterilization, commercial facility management and energy management from a single source. DKA constructs, installs and services all types of refrigeration and air-conditioning equipment and systems. HEBO Aufzugstechnik GmbH constructs premium elevators and modernises, services and repairs existing elevators. Gaetano Paolin installs and services air conditioning, ventilation, refrigeration and heating systems, electrical and mechanical systems and provides servicing and after-sales services. Kursana nurses and cares for 13,600 senior citizens. The Dussmann Group operates the media department store Dussmann das KulturKaufhaus in Berlin and in-house corporate child-care at Dussmann KulturKindergarten facilities. In 2018, the Dussmann Group generated total sales of €2.34 bn.