P+P advises on sale of OTTO Luft- und Klimatechnik Group
Funds managed by Equistone Partners Europe and Hartmut Otto Jr. have sold their shares in OTTO Luft- und Klimatechnik Group (“OTTO Group”). P+P Pöllath + Partners advised the sellers on the transaction.
The buyer is ENGIE Deutschland GmbH; with this acquisition, they aim to strengthen their leading market position in technical building systems and expand their portfolio of ventilation and air conditioning technology, refrigeration technology and building automation. The parties have agreed to maintain confidentiality regarding the details of the transaction.
The OTTO Group was founded in 1967 and is one of the most distinguished specialty companies for ventilation engineering and service in Germany. In addition to its headquarters in Bad Berleburg in North Rhine-Westphalia, the company operates 13 other facilities all over Germany. The OTTO Group furnishes equipment systems and technical solutions to shopping centers, hospitals, office buildings, industrial production lines and pharmaceutical labs and advises and services industry, trade, commercial and public sector customers. In addition to planning and application, OTTO Group's spectrum of services includes custom service, maintenance and installation. OTTO Group's 700 employees, including a large number of technical and installation staff, are expected to generate turnover of approximately EUR 120 m.
P+P Pöllath + Partners advised the sellers with the following team:
- Dr. Andrea von Drygalski (partner, M&A/private equity, Munich)
- Daniel Wiedmann (associated partner, antitrust law, Frankfurt)
- Dr. Verena Stenzel (senior associate, M&A/private equity, Munich)
- Dustin Scheuer (associate, M&A/private equity, Munich)
- Benjamin Maciejewski (associate, M&A/private equity, Munich)
