Finatem sells Schollenberger to Cobepa-backed Socotec

The sale ends a holding period of just under two years for Finatem, which acquired the company with equity from its fourth fund, a €150m vehicle that backs SMEs with sales between €20-125m.

Socotec is a consultant specialising in the construction and infrastructure sectors. It was acquired by private investment holding company Cobepa and Rothschild’s private equity arm Five Arrows in February 2013. The group generates revenues of €700m and employs 7,400 people.

Finatem launched the sale in August with Clearwater advising, according to Unquote sister publication Mergermarket. The asset was marketed based on €8m adjusted EBITDA for 2018, according to Mergermarket.

Previous funding
Finatem backed the buyout of Schollenberger in December 2016, alongside the managing directors, Klaus Loehle and Boris Toeller.

Company
Schollenberger was founded in 1998 and is headquartered in Celle. It specialises in civil explosive ordnance detection. For construction in Germany and Austria, removal of explosive ordnance is a legal obligation in the event of any operation in the ground. The company employs 400 people at 10 offices in Germany and Austria and expects revenues of €40m for 2018.

People
Finatem Beteiligungsgesellschaft – Eric Jungblut (partner).

Advisers
Vendor – Clearwater International, Axel Oltmann, Benjamin Bubrowski, Maximilian Hammers, Manuel Erath, Özgür Büber (corporate finance).
Acquirer – Raymond James (corporate finance).

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