Deutsche Private Equity sells its majority stake in SERCOO Group to strategic buyer Elevion Group, which will become a leading service provider for biogas plants, decentralized cogeneration of heat, power and engine conversions

Sep 1, 2023

  • Successful development of SERCOO Group into an integrated provider of technical services for operators of biogas plants, combined heat and power plants and related engine technology as part of a buy-and-build strategy with DPE as financial investor
  • Quadrupling of SERCOO Group’s turnover during a nine-year holding period by DPE
  • Acquisition of SERCOO Group by strategic buyer Elevion Group to strengthen its existing businesses and expand its expertise in alternative drive systems

Funds advised by Deutsche Private Equity (“DPE”), one of the largest growth investors in the DACH region, are selling 100% of their shares in the SERCOO Group, one of the leading German providers of services for operators of biogas plants and combined heat and power plants as well as the corresponding engine technology, to the technical building equipment and energy service provider Elevion Group. The acquisition will strengthen Elevion Group’s market position in the renewable energy and decentralized energy supply sectors and will provide it with the expertise to meet the growing demand for alternative drive systems for stationary and mobile applications. The parties have agreed not to disclose the purchase price.

In 2014, DPE acquired a stake in the then BU Bücker & Essing GmbH, a company for the repair of stationary industrial engines with a focus on combined heat and power plants. The core of the investment was a buy-and-build strategy with the aim of creating an integrated provider of technical services for biogas plants, combined heat and power plants and the corresponding engine technology. During the nine-year holding period, eight companies were successfully acquired and integrated, significantly increasing the range of services and depth of value creation. Today, the SERCOO Group is one of the leading one-stop-shop providers in this field, making a significant contribution to the development of an independent and decentralized energy supply and to the sustainable reduction of CO2 emissions.

Markus Spitzer, CEO of SERCOO Group, said: “From all discussions over the past months, Elevion Group has clearly emerged as the best partner for the further growth of SERCOO Group. We are therefore very much looking forward to working with our partner of choice as our new shareholder. At the same time, we would like to thank DPE for the always committed and fruitful partnership, which has made the rapid development of the last years possible.”

Mark Suderow, Partner at DPE, added: “DPE believes in investing in business models that make a positive contribution to society. This is why we have invested in several renewable energy companies since 2008. We are particularly proud of SERCOO Group. As a strategic partner, we have worked with the management team to quadruple the group’s turnover through targeted organic and inorganic growth, creating one of Germany’s leading technical service providers in the field of energy transition. We are convinced that in the Elevion Group we have found an excellent partner to continue this success story.”

“With the acquisition of SERCOO Group, we are significantly expanding our position as one of the leading providers of complex solutions for the energy transition”, says Jaroslav Macek, CEO of Elevion Group B.V. “We are extending our already large portfolio of services that help our clients to achieve their decarbonization targets. The shift to renewable fuels is one of the pillars of the European energy transition and we are now taking further steps to expand our capabilities in this area.”

DPE was advised by PwC (M&A), Heuking Kühn Lüer Wojtek (legal), Ebner Stolz (finance), Pöllath (structure) and Crescendo Partners (management coaching).