Adiuva-backed Konzmann acquires Trenker

Adiuva invested in Konzmann in 2016 as part of a succession plan. Konzmann has made 12 add-ons during the investment period – most recently, in June 2019, Konzmann acquired Germany-based Heime-Welte, a provider of heating, ventilation and sanitary systems.

Konzmann is continuing to seek add-on acquisitions to support its growth, according to a statement.

Adiuva generally deploys €5-40m in equity per investment, acquiring stakes of at least 25%. It targets companies with EBITDA of €2-15m. The GP is currently deploying from its second fund.

Company
Trenker provides planning, installation and maintenance services for heating, ventilation, refrigeration and air conditioning systems. The company is based in Garching and employs 31 people

People
Adiuva Capital – Tobias Osing (partner).
Konzmann – Thomas Endres (CEO).
Trenker – Boris Becker (CEO).

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