Implenia strengthens position in European infrastructure market with acquisition of Bilfinger Construction
Dietlikon, 22 December 2014 – Implenia is acquiring the Bilfinger Construction GmbH unit from Bilfinger SE. The unit, with production output of around CHF 780 million (EUR 650 million) and 1850 employees, offers extensive infrastructure construction services in German-speaking Europe and in Scandinavia. With this acquisition, Switzerland's leading construction and construction services provider is taking an important step in its declared strategy of establishing itself internationally as a recognised expert in complex infrastructure projects. The acquisition strengthens the Group's technical competence and effectiveness. It diversifies the business geographically and broadens Implenia's regional presence.
As one of the leading providers in the German market, Bilfinger Construction complements Implenia's offering. The unit has excellent industry expertise and is a leading player in foundation engineering, civil engineering and tunnelling. The company has strong regional footholds in its target markets, Germany, Austria, Norway and Sweden. It has a high level of technical know-how and an attractive project and service portfolio. Bilfinger Construction also includes regional and technical companies with strong local roots. In its core markets of Germany and Austria these offer specialist services including civil works, roadbuilding, civil engineering and formwork (see attachment).
The combination with Bilfinger Construction creates a strong technical platform in attractive European markets, facilitating successful exploitation of the "infrastructure" megatrend in areas such as mobility and energy. The two companies have complementary and attractive core markets, allowing Implenia to benefit from the long-term growth of the infrastructure market in Europe and increase the group's operational growth sustainably. In future, Implenia will have the critical mass in Germany, Austria and Scandinavia to leverage its track record and acquire and execute a greater number of complex projects. The two companies have already proved repeatedly that they are a good fit for each other. Over the last 15 years Implenia and Bilfinger Construction have successfully tackled numerous major projects together, including the Gotthard Base Tunnel, and the Zurich Cross-City Link.
Implenia's CEO Anton Affentranger is very happy about the deal: "I'd like to offer our new colleagues a warm welcome to the Group, and I look forward to working with each other in future. I'm certain that together we can realise the potential of both companies even more effectively and lay the foundations for further growth in Europe." Stefan Roth, CEO of Bilfinger SE says: "We are very glad to have found a new partner with such an excellent reputation. Together with Implenia we can take the strategic development of our business to the next level. Implenia is acquiring an outstandingly positioned, internationally active company with a long tradition. Our core European markets make us an ideal fit for Implenia."
Bilfinger Construction has been given an equity value of approximately EUR 110 million (depending on 2014 financial statements), leading to a net liquidity outflow in the first quarter of 2015 of around EUR 60 million. Completion of the transaction is subject to the approval of the competition authorities. Closing is scheduled for the period between the start of February and the start of March 2015.
Implenia press contact:
Philipp Bircher
Head of Communications Group
Phone: +41 58 474 74 77
E-Mail: communication@implenia.com
Contact in Germany: +49 69 92 18 74 87
Bilfinger Construction GmbH overview (basis: 2013)
Bilfinger Construction's core markets | Production output by segment | |
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Key figures: Implenia with Bilfinger Construction
Implenia ex-ante | Bilfinger Constr. | Implenia ex-post | |
Production output (in CHF m) | 3288 | 780 | 4068 |
of which international business (in %) | 12 | - | 29 |
Headcount (FTE) | 6435 | 1850 | 8285 |
Overview of regional and technical companies
Implenia is the leading construction and construction services company in Switzerland. Formed in 2006 from the merger between Zschokke and Batigroup, Implenia can look back on around 150 years of history in the construction industry. The company brings the expertise of its highly skilled Modernisation & Development, Buildings, and Tunnelling & Civil Engineering Sectors, and its Switzerland and Norway Regions under the single roof of a nationally and internationally active company. With its integrated business model and specialists operating in all its divisions, Implenia can manage a building project through its entire lifecycle and deliver work that is economical, integrated and customer-centric. The focus is on striking a sustainable balance between financial success and social and environmental responsibility.
Implenia, with its headquarters in Dietlikon near Zurich, employs more than 6900 people and posted turnover of around CHF 3.1 billion in 2013. The company is listed on the SIX Swiss Exchange (IMPN, CH0023868554). For more information, please visit www.implenia.com.
