DUBAG sells Scheven to trade

The sale process was structured in-house by DUBAG and mainly saw interest from strategic investors.

DUBAG acquired Scheven in February 2017 in a carve-out from its parent company Bilfinger. The acquisition was an all-equity deal. The company reported revenues of €20m at the time and had 200 employees.

DUBAG invests in special situations such as carve-outs of non-profitable or non-core businesses and aims to support its portfolio companies in establishing themselves as standalone businesses. The GP did not make any add-ons for Scheven during the investment period.

The GP’s current fund, Lenbach Equity Opportunities II, is still in its investment period. The vehicle held a final close in September 2019 on its hard-cap of €40m. The fund has made two investments and aims to make 8-10 in total. It generally writes equity tickets of up to €8m and can deploy tickets of €15-20m with co-investments.

Company
Founded in 1982 and based in Erkrath, Scheven provides civil engineering and urban and industrial piping services, focusing on planning, construction and renovation, as well as plant construction. Its client base includes E.ON Ruhrgas, Evonik, Exxon Mobil and RWE, according to its website. The company has 200 employees and reports revenues of €25m.

People
DUBAG – Michael Schumann (managing director).
Scheven – Guido Helmig (CEO).

Advisers
Vendor – Heuking Kühn Lüer Wojtek (legal).

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