DPE's Massenberg bolts on Aéro Solutions

Sebastian Thielkes, founder and CEO of Aéro Solutions, will continue to head the company, according to a statement.

A number of other PE bidders were interested in Aéro Solutions during the process, which began in Q4 2019, according to a source familiar with the situation. The deal experienced a delay of around two months due to the impact of the coronavirus outbreak, the same source added.

The deal was financed with an acquisition facility provided by LBBW, which backed the original acquisition of Massenberg.

DPE acquired Massenberg in April 2019, deploying equity from its third fund, which held a final close in January 2017 on €575m. DPE said in a statement at the time that it planned to support the company in acquisitions to consolidate the construction restoration market. The company reported turnover of €50m in 2018 and employed 300 people; it now has 450 employees.

In August 2019, DPE supported Massenberg in its acquisition of Stromberg Oberflächentechnik The deal was the company's first bolt-on during the investment period.

Company
Founded in 2013 and based in Oberhausen, Aéro Solutions provides repair services for natural draft and cell cooling towers. In addition to its headquarters in Germany, the company also has operations in Saint Dizier, France, and Haarlem, the Netherlands. It employs 30 staff and reports revenues of more than €10m.

People
DPE – Mark Suderow (investment director).
Aéro Solutions – Sebastian Thielkes (founder, CEO).
Massenberg – Heiner Stahl (CEO).

Advisers
Vendor – Carlsquare, Nico Schmidt-Weidemann, Moritz Stolp, Donovan Streicher, Oskar Kraszewski (corporate finance); Eversheds Sutherland, Werner Brickwedde (legal).

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• Topics
• Portfolio management
• DACH
• Industrials
• Build-up
• Germany
• Deutsche Private Equity