Deal Announcement 12/14: Engineering & Construction/Energy
PwC M&A acted as a financial advisor to JFE Engineering Corporation on the acquisition of Standardkessel Power Systems Holding GmbH
The Deal
JFE Engineering Corporation ("JFEE"), the Japan based Company, acquired 100% of the shares in Standardkessel Power Systems Holding GmbH ("SPSH"). The transaction has been closed in December 2014.
The M&A team of PricewaterhouseCoopers Co., Ltd. (“PwC Japan”) together with the support of the M&A team of PricewaterhouseCoopers AG WPG (“PwC Germany”) acted as exclusive financial advisor to JFEE. This transaction gives testimony to our ability to provide effective cross border M&A-advice and to provide one-stop-shop solutions in complex situations.
JFE Engineering Corporation
JFE Engineering Corporation with head office in Tokyo is an innovator of technologies across the engineering field and has a strong presence in developing waste-to-energy and biomass power plants. JFE Engineering operates as a core subsidiary of JFE Holdings, Inc., a Tokyo Stock Exchange listed company with over 57,000 employees worldwide and consolidated revenues in FY 2013 of over JPY 3 trillion (approx. EUR 25 billion).
Standardkessel Power Systems Holding GmbH ("SPSH")
SPSH is a holding company owning 100% of the shares in Standardkessel Baumgarte group (“The Group”). The Group is a leading European provider in construction of high efficient power plants using advanced boiler technologies for a wide range of fuels, with FY13 sales of around EUR 129 million and employs currently 215 people. The Group consists of Standardkessel GmbH, which is in charge of design and construction of biomass power plants, waste heat recovery power plants as well as primary fuel power plants, Baumgarte Boiler Systems GmbH, which is responsible for design and construction of waste-to-energy plants and Standardkessel Baumgarte Service Holding GmbH, which covers maintenance of plants.
PwC
The global PricewaterhouseCoopers network is a worldwide association of independent auditing and consulting companies, which together employ more than 195,000 employees in 157 countries. Our global network comprises nearly 1,100 M&A professionals all over the world, realizing approx. 300 successful transactions per year. We specialize in a wide range of independent M&A services including advice on acquisitions and disposals, mergers, public takeovers, privatizations as well as structured financing.
The M&A teams involved comprised Gregory Bournet, Shuhei Jimmy Yasuki, Nicolas Seraphin and Takayuki Fujii from PwC Japan and Wilfried Böckmann and Artjom Jalosa from Germany, partnered by Akihiko Matsunaga (Japan) and Martin Schwarzer (Germany).
