H.I.G. European Capital Partners, the European division of H.I.G. Capital, a private equity investment company, declared that it has finished the purchase of a major stake in the Hanlo Group, an Austria headquartered company, through its newly formed Green Building Group.
It performed the acquisition through a partnership venture with Solidus Partners, an investment arm of Philippe Graf von Stauffenberg. The acquisition is subject to receipt of clearance from merger control.
Through this acquisition Green Building Group is aiming to lead the eco-friendly prefabricated construction segment through more acquisitions and internal growth Hanlo will function under the canopy of the Green Building Group along with its known brands Bau mein Haus and Hanlo. The purchase price of the deal was not revealed.
Hanlo, based in Graz, Austria and Freiwalde, Germany, leads the prefabricated construction market in the German-speaking region of Austria and with a current year turnover of more than € 60 million. The company has served over 50,000 clients during the 35 years of it’s existence. Hanlo in addition to building family homes also constructs commercial projects such as nurseries and retirement homes. The company has developed good reputation through its style of architecture and quality construction.
The Green Building Group is the second joint venture between Solidus and H.I.G. concentrated on renewable energy business. Earlier, the partnership had purchased shares in Der Gruene Punkt – Duales System Deutschland, a recycling company in February 2011. Both the companies have plans to acquire more number of companies and have identified a few of them.
Source: http://www.higcapital.com