Heijmans, the major European construction-services business completes sale of Franki.
The sale of its foundation specialist Franki to PORR Deutschland GmbH. The transaction is approved by the responsible competition authorities and the anticipated net proceeds of almost €15m have been received. As previously reported, on 13 December 2016 Heijmans reached agreement on the sale of all shares in its German-based foundation specialist Franki to PORR. The transaction contributes to Heijmans’ objective to improve the debt/ebitda-ratio structurally.
PORR has taken over the longstanding, specialist civil engineering company Franki Grundbau GmbH & Co. KG, headquartered in Seevetal. PORR is thereby undertaking a targeted expansion of its service range in specialist civil engineering and the deal also underlines the growth strategy in Germany.
Franki Grundbau will continue to operate under its own brand name as a wholly owned subsidiary of PORR Deutschland GmbH.
“The acquisition of Franki Grundbau is a key strategic step for PORR in Germany. We are thereby consistently and sustainably strengthening our range as a full service provider” said Karl-Heinz Strauss, CEO of PORR.
“With the acquisition of Franki Grundbau, we have managed to bring on board at PORR a company with an exceptional reputation. What’s more, Franki Grundbau brings with it a tried-and-tested product for the foundations of buildings. The close links to the product market segments we already offer will have a positive impact on the overall growth of PORR in Germany”, said Stephan Hebgen, Managing Director of PORR Deutschland GmbH.
Harald Steltner, Managing Director of Franki Grundbau GmbH & Co. KG said: “We look forward to the cooperation with PORR. Two companies with a long history are joining together for future growth. We are certain that both companies will benefit from today’s strategic step”. With around 230 employees and a history dating back more than a century, Franki Grundbau GmbH & Co. KG is a leading specialist for excavation pits and pile foundations. In 2015 the company generated revenue in excess of €60m. Franki operates in Germany, the Netherlands, Belgium, Austria and Poland and since 2002 it has been part of the Dutch construction company Heijmans NV, headquartered in Rosmalen.
