capiton sells GRITEC to Viessmann Generations Group
Berlin — capiton AG has successfully sold its stake in GRITEC TopCo GmbH (“GRITEC”) to Viessmann Generations Group (“Viessmann”). GRITEC is the largest solution provider for turnkey technology buildings and stations for energy, water and industrial infrastructure in Germany. The company specializes in intelligent infrastructure solutions and key components for the transformation to a decentralized and green energy grid. As a leader in grid infrastructure, GRITEC will play a key role in the green energy transition in Europe. GRITEC offers comprehensive solutions for the development, production and provision of ready-to-connect, system-relevant infrastructure solutions in the form of technology buildings, transformer stations and the associated customer services for the utility grid, e‑mobility, telecommunications, rail systems and industry sectors. These components are essential for a nationwide and stable energy supply, especially to meet the challenges of an increasingly decentralized grid infrastructure due to the transition to renewable energies. GRITEC employs 1,300 people at six locations in Germany and the Czech Republic. GRITEC had been a holding of the private equity company capiton AG since 2022. The transaction is subject to approval by the relevant antitrust authorities. In order to achieve climate neutrality by 2045, the share of renewable energies in Germany must be almost doubled by 2030 and the rate of expansion even tripled (source: Bundesregierung.de: “Anteil der erneuerbaren Energien steigt”; accessed on 22.10.2024). As an intelligent all-in-one solution provider, GRITEC is ideally positioned to provide and smartly integrate the necessary substations and technical buildings. Max Viessmann, CEO of the Viessmann Generations Group (Photo © Viessmann): “GRITEC plays a crucial role in the expansion of a nationwide, smart and sustainable energy infrastructure and we look forward to tapping into further growth potential together. In order to achieve the important European climate targets, we support innovative companies that are committed to scalable solutions for reducing and saving CO2 emissions. Together with GRITEC and our ecosystem of medium-sized market leaders, we are taking responsibility to shape living spaces for future generations.”
Volker Ernst & Thomas Sachers, Managing Directors of the GRITEC Group: “We are delighted to have Viessmann, a renowned and successful majority shareholder, at our side, who will provide us with optimal support in implementing our next strategic and long-term goals. The fact that our corporate cultures and mission statements fit together perfectly gives us great confidence in our future path to make an important contribution to a sustainable future with our solutions.” Thomas Brake, Director of capiton AG: “Together, we have been able to develop GRITEC into a market leader in the field of energy infrastructure in recent years and create a solid foundation for future growth. We would like to thank the Co-CEOs Volker Ernst, Thomas Sachers and the entire GRITEC team for this fantastic partnership and exceptional commitment.” Christoph Spors, Partner at capiton AG, adds: “We are delighted to have found the perfect partner in Viessmann to continue GRITEC’s successful growth trajectory. We wish GRITEC and its employees all the best for the next chapter of the company under new ownership.”
Consultant CAPITON:
Houlihan Lokey as exclusively mandated M&A advisor, Milbank (sell-side counsel), honert (management counsel), Deloitte (financial), Boston Consulting Group (commercial), Flick Gocke Schaumburg (tax) and ERM (ESG).
About capiton AG
capiton (www.capiton.com) is an independent private equity fund manager that manages funds with a volume of 1.6 billion euros. Founded in 1984 as an investment company of a large insurance group, capiton became an independent partnership in 2004. Currently, capiton invests from its latest fund capiton VI. capiton AG’s investment portfolio currently comprises 19 medium-sized companies.
About GRITEC Group
As a leading European full-service provider for system-relevant infrastructure solutions, GRITEC has been securing supplies in many areas of infrastructure — such as electricity, gas, water, renewable energies, digitalization, e‑mobility and industry — for over 60 years, making it a driver and enabler of the energy and mobility transition.
About Viessmann Generations Group
Founded in 1917, the independent family business Viessmann is today a global, broadly diversified group. All activities are based on the corporate mission statement “We create living spaces for future generations” — this is the passion and responsibility that drives the members of the large global Viessmann family every day. In line with this goal, Viessmann offers companies and co-creators an ecosystem that goes beyond the heating industry and is committed to the avoidance, reduction and storage of CO2.