Deal Announcement 08/23: Industrial Products

The Deal

The PwC M&A team is pleased to announce that funds advised by Deutsche Private Equity (“DPE”), a leading growth investor in the DACH region, have sold SERCOO Group GmbH (“SERCOO Group”) to Elevion Energy and Engineering Solutions GmbH (“Elevion”) for an undisclosed consideration. SERCOO Group is a leading provider of industrial maintenance, repair and overhaul (MRO) services along the entire value chain for biogas and decentralized cogeneration plants. PwC conducted a structured, international sales process. 

The share purchase agreement was signed and closed in August 2023.

SERCOO Group

As one of the leading integrated technical service providers to the German renewable energy sector with a comprehensive service portfolio, SERCOO Group contributes to the energy transition. The Group has around 300 employees and operates via three business units. The interlinking of the companies results in tailor-made service solutions at the highest level - from complete plants to individual components, for the energy and transport sectors as well as for industry, trade and the automotive industry.

Deutsche Private Equity (“DPE”)

Deutsche Private Equity (“DPE”) is an independent investment company which supports medium-sized companies on their growth path in its capacity as an investor in a spirit of partnership. Over the past 15 years, DPE has developed into one of the largest growth investors in the DACH region and currently has total assets of €3 billion under management. The core of DPE’s investment strategy lies in the areas of digitalization/software, healthcare, industrial technology, B2B services, energy and environmental technology.

Mark Suderow, Partner at DPE, noted: “We are particularly proud of SERCOO Group. As a strategic partner, we have worked with the management team to quadruple the group’s turnover through targeted organic and inorganic growth, creating one of Germany’s leading technical service providers in the field of energy transition. We are convinced that in the Elevion Group we have found an excellent partner to continue this success story.”

Elevion Group

Elevion Group is a leading European provider of end-to-end decarbonization and higher energy efficiency solutions. Elevion operates in 12+ countries through 60+ highly specialized independent companies, but with the financial strength of an international group. The acquisition will significantly strengthen Elevion’s market position in the renewable energy and decentralized energy supply sectors and will provide it with the expertise to meet the growing demand for alternative drive systems for stationary and mobile applications.

“With the acquisition of SERCOO Group, we are significantly expanding our position as one of the leading providers of complex solutions for the energy transition,” Jaroslav Macek, CEO of Elevion Group B.V. commented. “We are extending our already large portfolio of services that help our clients to achieve their decarbonization targets. The shift to renewable fuels is one of the pillars of the European energy transition and now we are taking further steps to expand our capabilities in this area”

PwC

The global PricewaterhouseCoopers network is a worldwide association of independent auditing and consulting companies which together employ more than 364,000 people in 151 countries. Our global network comprises over 2,900 M&A professionals all over the world, realising approx. 400 successful transactions per year. We specialise in a wide range of independent M&A services including advice on acquisitions and disposals, mergers, public takeovers, privatisations as well as structured financing.

PwC M&A Germany acted as M&A advisor to DPE on this transaction. The transaction was led by Alexander Knögel (Partner) and supported by David Schaibasjan (Manager), Nils Kaufmann (Associate) and Simon Hartmann (Associate).