HögforsGST, a portfolio company of Intera Partners, a private equity firm focused on the growth and internationalization of Finnish and Swedish companies, has acquired all shares in Oventrop Energy & Network (formerly known as Kring Fernwärme), a former subsidiary of Germany-based Oventrop Group.
The acquisition is part of HögforsGST's strategic growth and expansion into the Central European market. As part of the transaction, the Oventrop Group becomes a shareholder in HögforsGST. Through the acquisition, HögforsGST gains a foothold in Germany and strengthens its position in the European heating technology market. HögforsGST is strongly committed to continuing its expansion into the Northern and Central European markets.
The acquired subsidiary, Oventrop Energy & Network, specializes – like HögforsGST – in the manufacturing of high-quality district heating equipment and cooling systems, with Germany and its neighboring countries as its main markets. Oventrop Energy & Network generates annual revenue of approximately EUR 10 million and employs around 45 people.
The acquisition enables products manufactured in Finland to be sold in the German market. Acquiring a profitable and stable company also strengthens HögforsGST's operations in its current home markets of Finland, Sweden, and Norway. The partnership with Oventrop brings HögforsGST not only expansion but also other strategic opportunities.
HögforsGST is a Finnish company specializing in the design, manufacture, and marketing of high-quality heating and cooling systems. As the leading provider of smart energy solutions in the Nordic region, HögforsGST helps reduce both emissions and energy costs through innovative, modern technologies. All of HögforsGST's products are manufactured at its factory and company headquarters in Leppävirta, Finland. The strong domestic sales network is complemented by subsidiaries in Sweden and Norway, enabling HögforsGST to serve a growing international customer base. HögforsGST employs approximately 170 professionals and generates annual revenues of around EUR 35 million – most of which comes from exports.
Wendelstein advised HögforsGST in connection with the acquisition of Oventrop & Energy Network GmbH. The team included Partners Dr. Daniel-Müller Etienne (lead, M&A, Corporate and Tax), Dr. Lars F. Freytag (M&A and Corporate) and Dr. Matthias Budde (Financing), Counsel Vanessa Trixi David (Real Estate), Senior Associate Michele Stephan (M&A and Corporate), as well as Associates Louisa Pakosch and Lena Wagner (all M&A, Corporate and Finance) as well as Judith Piperek (M&A and Corporate) and Dr. Katharina Pichler (M&A, Corporate and Tax).
For IP and IT law, Wendelstein collaborated with Lexantis (Thomas Becker and David Ziegelmayer), and for labor law matters with backup.legal (Dr. Jens Jensen). Ritterwald Unternehmensberatung (Lutz Rittig, Norman Fengler and Katharina Krux) acted as transaction advisor to HögforsGST.
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