Hannover Finanz has agreed to sell its stake in building, IT and personnel services company Lück Verwaltungs to multi-technical services provider Spie.
Fresh capital will be used to launch the service in the US and open an office in New York
Current management team will stay with the business as it moves to new ownership
Baird Capital and VR EquityPartner both made an exit in the sale after a 12-year holding period
Deal closes a four-year holding period under OpenGate, which acquired the firm in 2014