HIG acquires majority stake in Infratech Bau

Infratech's founders and managing directors, Gregor Klaßen and Andreas Muchall, are to remain in their management positions and will retain a significant stake in the business.

The GP said in a statement that it intends to build on Infratech's current position in the German market, both organically and through add-on acquisitions.

HIG is currently deploying equity via HIG Europe LBO III. The fund invests in mid-market businesses in Europe across a range of sectors, focusing on targets with EBITDA of €10-35m. The vehicle held a final close in November 2020 on €1.1bn.

HIG was on the road for HIG Middle Market I as of September 2020, according to Unquote Data. The fund was registered in February 2020.

HIG has previously invested in companies focused on fibre-optic infrastructure and technology: it acquired UK-based fibre-optic transmission equipment producer Xtera Communications in February 2017.

Company
Founded in 2007 and headquartered in Meppen, Infratech is an infrastructure services contractor operating in Germany, with a focus on northern and western Germany. The business focuses on fibre-to-the-home broadband, as well as the supply of gigabit internet connections to residential and commercial sites. Infratech also provides road and civil engineering services, as well as sewer construction. Its client base comprises both public and private operators.

Infratech posted gross profit of €14.1m in 2019, compared with €6.8m in 2018, according to its latest publicly available accounts. The same statement noted that the business employed 74 staff in 2019, aside from its management team and its trainees.

People
HIG Capital – Holger Kleingarn (managing director, head of DACH).
Infratech Bau – Gregor Klaßen, Andreas Muchall (co-founders, managing directors).

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