Odewald buys Heizkurier

The GP drew equity from Odewald KMU II, a €200m buyout fund that held a final close in November 2015 and is currently approximately 40% deployed.

Odewald KMU is the firm's lower-mid-cap growth division, targeting companies with revenues of less than €100m and investing €5-30m of equity per transaction. The first KMU fund held a final close on €150m in 2008 and is now fully invested.

Heizkurier employs 40 people and generated a turnover of approximately €10m in 2017. Odewald plans to implement a succession and growth plan for the company.

Company
Heizkurier was founded in 1999 as SHK-Betrieb and renamed to Heizkurier in 2007. It plans and manufactures heating, sanitation and air conditioning systems for private houses and businesses. Alongside its headquarters in Bonn, the company has branches in Hamburg, Ulm, Berlin, Frankfurt and Munich.

People
Odewald KMU – Oliver Schoenknecht (CEO).
Heizkurier – Britta Kaets, Martin Hecker (general managers).

Advisers
Equity – Heuking Kühn Lüer Wojtek (legal); Ebner Stolz (financial due diligence); Munich Strategy Group (commercial due diligence); P+P Pöllath + Partners (legal); Willis Towers Watson (insurance due diligence).

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• Topics
• Buyouts
• DACH
• Industrials
• Germany
• Odewald & Compagnie