Heijmans N.V. (construction, property development and related activities) is to acquire the assets of Franki Grundbau GmbH in Hannover, a former unit of the now-bankrupt Philipp Holzmann AG. Heijmans has reached final agreement about this acquisition with the receiver.
Franki Grundbau is active in foundations, underground construction and concrete constructions. The companyâ€™s turnover last year amounted to approximately EUR 45 million. Franki is a profitable company that employs 200 people.
The acquisition dovetails with Heijmansâ€™s strategy to develop into a European player, partly by strengthening its market position in the Netherlands and surrounding countries (Germany, Belgium and the United Kingdom) via acquisitions of healthy companies or business units.
The acquisition is still being discussed for approval by the German Competition Authority.