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FRIEDRICH VORWERK acquires GOTTFRIED PUHLMANN and taps additional growth potential in the electricity and district heating market

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Friedrich Vorwerk Group SE / Key word(s): Takeover
FRIEDRICH VORWERK acquires GOTTFRIED PUHLMANN and taps additional growth potential in the electricity and district heating market

10-Nov-2021 / 16:55 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Disclosure of inside information acc. to Article 17 MAR

FRIEDRICH VORWERK acquires GOTTFRIED PUHLMANN and taps additional growth potential in the electricity and district heating market

Tostedt, 10 November 2021 - FRIEDRICH VORWERK Group SE (ISIN DE000A255F11), a leading provider of energy infrastructure solutions for gas, electricity and hydrogen applications, today acquired 75% of the shares in GOTTFRIED PUHLMANN Group, consisting of Gottfried Puhlmann GmbH and Gottfried Puhlmann GmbH Havelländische Bauunternehmung. The current family owners will remain shareholders in the company and intend to continue the Group's growth course together with FRIEDRICH VORWERK. The transaction is subject to the approval of the German Federal Cartel Office (Bundeskartellamt).

GOTTFRIED PUHLMANN is a family-owned company with a long tradition and is a renowned supplier of energy infrastructure with a focus on cable construction and district heating. In 2020, the company generated sales of more than €30 million and currently employs around 260 people at its sites in Berlin, Hamburg, Marne and Husum. Leading regional and national network operators and utilities have relied on the company's extensive expertise in complex infrastructure projects for more than 130 years.

FRIEDRICH VORWERK's acquisition of GOTTFRIED PUHLMANN opens up new regional markets and additional growth opportunities in the electricity and district heating markets. The need for billions of euros of investment into Germany's energy infrastructure faces limited capacities of suppliers, especially in the area of high-voltage electricity infrastructure. In addition to major supra-regional projects, the energy transition also demands substantial investments in the infrastructure of metropolitan areas such as Berlin and Hamburg. Through the acquisition, FRIEDRICH VORWERK and GOTTFRIED PUHLMANN see themselves ideally positioned to meet the growing demand in these markets.

Following the acquisition of KORUPP, a specialist in cathodic corrosion protection, GOTTFRIED PUHLMANN is already FRIEDRICH VORWERK's second acquisition in 2021. In light of the Group's significant net liquidity, acquisitions are to remain an essential part of the growth strategy in the future.

Contact Details

FRIEDRICH VORWERK Group SE
Niedersachsenstraße 19-21
21255 Tostedt
Tel +49 4182 - 29470
Fax +49 4182 - 6155
ir@friedrich-vorwerk.de
www.friedrich-vorwerk.de/

Management Board
Torben Kleinfeldt (CEO)
Tim Hameister

Chairman of the Supervisory Board
Dr. Christof Nesemeier

Court of Registration
District Court of Tostedt, registration number: HRB 208170

10-Nov-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

Friedrich Vorwerk Group SE

Niedersachsenstraße 19-21

21255 Tostedt

Germany

E-mail:

hameister@friedrich-vorwerk.de

Internet:

www.friedrich-vorwerk.de

ISIN:

DE000A255F11

WKN:

A255F1

Listed:

Regulated Market in Frankfurt (Prime Standard)

EQS News ID:

1248011


 

End of Announcement

DGAP News Service

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