Triton-backed AVS buys Implenia SVA

Implenia SVA was formerly owned by Switzerland-based Implenia, which reported revenues of CHF 4.364bn and EBITDA of CHF 90m in 2018, according to its annual report.

Unquote sister publication Mergermarket reported in July 2018 that AVS would look to consolidate the road safety market via organic growth and add-on acquisitions in Germany and Europe. The company reported €11.7m EBITDA on €49.4m turnover in 2015. It reported revenues of €95m in 2017 and €107m in 2018. It has 600 staff.

AVS has already made six add-on acquisitions under Triton's ownership, including Fero Group in June 2019.

Previous funding
Triton acquired AVS in January 2018 in an SBO from Borromin Capital Management (formerly Steadfast Capital). The GP deployed equity from its €3.3bn vehicle Triton IV. A consortium of banks, including SEB, Unicredit, IKB, ING, RBI, LBBW, SMBC, Bank of Ireland, Deutsche Bank and Investec, provided senior debt to support the transaction.

Borromin acquired a majority stake in AVS in November 2013 for an enterprise value of €50m, deploying from Steadfast Capital III, which deployed maximum equity cheques of €20m after failing to reach its initial target of €250m.

Company
Implenia SVA was founded in 2006 and is based in Saarbrücken. It employs 30 staff and was previously part of Implenia-owned Implenia Modernbau. The company provides construction site security and road marking services.

People
AVS Verkehrssicherung – Andreas Schwingeler (chief operating officer).
Implenia SVA – Jörg Huwig (managing director).

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