HBL acquires ZWT Wasser- und Abwassertechnik

The company's management has a minority stake in the business.

"The deal came out of our network," Peter Hammermann, founding partner at HBL, told Unquote. "It was an absolutely proprietary deal that we have worked on for some time."

Asked about the growth strategy for the company, Hammermann said: "We have a strong interest in letting the business grow, we want to prepare the preconditions and the grounds to make this possible. We are certainly interested in potential add-ons, in businesses that horizontally or vertically make sense and could contribute to the evolution of the business model."

Hammermann added that the GP is already considering potential add-on acquisitions: "We are discussing some potential projects already. We will discuss deals in Germany and the DACH region, and we would also be prepared to look outside Germany in Europe. Additionally, we have contacts to some overseas business. But it would have to make sense for the business and an appropriate development should be possible."

HBL targets investments in small and medium-sized companies with enterprise values of up to €50m in the industrial and services sectors in the DACH region and neighbouring companies. The GP deploys equity cheques of €5-30m per investment. The firm also invests in companies who are looking to partner with a financial sponsor as part of a succession plan.

Debt was provided by HBB.

Company
ZWT provides water, wastewater and sludge treatment technology and related engineering services, and drinking water storage facilities. Based in Bayreuth, the business has 45 employees. The business has good profit margins, Hammermann told Unquote. The company reports revenues of around €25m.

People
HBL InvestmentPartners – Peter Hammermann, Jörg Leussink, Jens Bender (founding partners).

Advisers
Equity – Bluemont Consulting, Markus Fränkel (commercial due diligence); P+P Pöllath & Partners, Andrea von Drygalski (legal).

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• Topics
• Buyouts
• DACH
• Industrials
• Germany