Hannover Finanz sells Lück to Spie

Spie will expand its mechanical and electrical services capabilities in Germany following the acquisition.

Spie is focused on mechanical and electrical, information and communications and technical facility management services. It operates from around 600 sites in 38 countries and achieved consolidated revenues of €5.1bn with EBITDA of €352m in 2016.

The transaction is expected to close by May 2017, subject to the approval of German anti-trust authorities.

Previous funding
Lück was acquired by Hannover Finanz in June 2012 for an undisclosed amount. At the time, the company employed 750 people and generated turnover of €83m. Six different funds invested in the company including HF Fonds VII, IX and X, as well as Commerz UBAG, WeHaCo and GBK Beteiligung.

Company
Established in 1965, Lück is a provider of building, IT and personnel services. Headquartered in Lich-Langsdorf, Germany, the company caters to companies operating across the electrical engineering, security, IT and communications technology, technical building management, heating and sanitary engineering, and renewable energy systems sectors. It operates in 18 locations across six German states and employs 1,000 people, generating sales of €130m in 2016.

People
Hannover Finanz – Johannes Voss (investment manager).
Spie Group – Markus Holzke (managing director).
Lück Verwaltungs – Ingo Lück (managing director).

Advisers
Equity – Orrick, Oliver Duys (legal).

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