Ecapital and IBB sell Geo-En to GASAG

GASAG will acquire 100% of the company, buying the remaining shares from co-founders Pieter Bots, Tobias Viernickel and Michael Viernickel. Geo-En will continue to operate autonomously after the merger, with the existing management team remaining in their roles.

The acquisition of Geo-En provides a strategic expansion into energy services for GASAG. Equally GASAG will support the further development of products and services for Geo-en.

Previous funding
In March 2012, IBB and Ecapital acquired a minority stake in Geo-en for €4m with the goal of business expansion and enhancing the company's technological advantage. The same consortium then re-invested a sum between €5-9m in the company.

Company
Founded in 2007 and headquartered in Berlin, Geo-En provides high-tech turnkey heating and cooling solutions that utilise geothermal energy. The company plans, builds and installs energy systems and has completed more than 20 large scale installations since being founded. It employs 25 people including heating and control engineers as well as system planners, geologists and IT specialists. In 2015 it recorded a turnover of €2.8m, a 128% growth on the previous year.

People
IBB Beteiligungsgesellschaft – Marco Zeller (CEO).
Ecapital – Bernd Arkenau (partner).
GASAG – Vera Gäde-Butzlaff (chairperson).
Geo-en - Pieter Bots, Tobias Viernickel, Michael Viernickel (co-founders).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• Industrials
• DACH
• Germany
• Trade sale