Adiuva's Konzmann bolts on TCon, HSV

The acquisition will expand Konzmann's geographical presence in Germany and its service offering, including in the area of planning services, the company said in a statement.

Both businesses were subsidiaries of Rehms Building Technology, which is currently undergoing a restructuring via self-administration proceedings, and the acquisitions were made as part of this process. The proceedings began in July 2020.

Adiuva invested in Konzmann in 2016 as part of a succession plan. The company has now made 14 add-ons; most recently, Konzmann acquired heating, ventilation and refrigeration service Trenker in August 2020, as reported.

Konzmann now reports revenues of €100m and has 600 employees.

Company
HSV and TCon provide building and construction services. TCon focuses on technical engineering and building services, specialising in small and medium-sized projects. Established in 1982, HSV provides planning, installation and maintenance services for cooling, heating and air conditioning technology.

TCon is based in Sindelfingen and has 24 employees, while HSV is headquartered in Aachen and has 50 employees.

TCon and HSV's former parent company, Rehms, reported revenues of €150m in 2019 and had 840 employees prior to its self-administration proceedings.

People
Adiuva Capital – Tobias Osing (partner).
Konzmann – Thomas Endres (CEO).
TCon Ingenieurgesellschaft – Frank Mutschler (CEO).
HSV Unternehmensgruppe – Klaus Drüke (CEO).

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• Topics
• Portfolio management
• DACH
• Industrials
• Build-up
• Germany