DPE sells Elevion GmbH to Czech ČEZ Group

Jul 7, 2017

  • Total output increased from 60 million Euro to more than 330 million Euro under DPE ownership
  • More than 30 strategic acquisitions
  • Elevion will expand service portfolio into energy related sectors

Munich, July 7th 2017. DPE Deutsche Private Equity (“DPE”) has reached an agreement with the ČEZ Group (CEZP.PR / ISIN: CZ0005112300) on the sale of the Elevion Group (“Elevion”). With approx. 2,000 employees, Elevion is one of the leading multi-technical services providers to commercial and industrial buildings and facilities in Germany.

Acquisition enables ČEZ Group to enter the German market
ČEZ Group (www.cez.cz/en) is the largest energy company in Central and Eastern Europe and the largest electricity producer in the Czech Republic with more than 8 million customers and a market capitalisation of approx. 9 billion Euro. Through its subsidiary CEZ ESCO (Energy Service Company) the group covers the energy demands of companies, municipalities and institutions of all sizes. Further, the subsidiary provides energy audits and energy consultancy, energy performance contracting (EPC), the operation of customer energy systems, and constructs co-generation units. The transaction enables ČEZ Group to enter the German market for energy services alongside its existing operations through stakes in wind power farms and fast growing companies in the renewable energies sector.

Private Equity and Craftsmanship – an unparalleled growth story
Approximately 6 years ago, DPE and Lars Eberlein, CEO and founder of the Elevion Group, entered into a partnership under which DPE acquired a majority of the company. The shared goal was to create a group in the German “Mittelstand” with strong nationwide presence providing comprehensive multi-technical building services to customers across different project sizes.

Successful ‘buy&build’ strategy
DPE and Lars Eberlein jointly developed a ‘buy & build’ strategy under which more than 30 strategic acquisitions were conducted and resulting in a total output growth from 60 million Euro (2011) to more than 330 million Euro (2017e). Simultaneously, Elevion has developed processes and standards allowing new members of the group to benefit from the advantages of a large corporation. Today, Elevion is a multi-services provider with a leading position in the growing technical building services market.

Elevion transformed into a well-renowned company with strong footprint
“Over the last few years we have developed Elevion to an impressive company, while maintaining our ‘Mittelstand’ culture. This journey was only possible together with DPE thanks to their entrepreneurial approach and understanding of what matters most to us. I look back with joy and pride to our last few years together and could not have imagined a better partner supporting us on our way,” says Lars Eberlein. Guido Prehn, Partner of DPE, adds: “During a couple of years only, Elevion has evolved from a family business into a well-renowned company in the sector. Elevion is the perfect example of how ‘Mittelstand’ and private equity can mutually benefit. At the same time, this success was only possible thanks to Lars Eberlein and his team’s extraordinary performance and commitment. I am happy that we found the perfect partner for Elevion’s future with ČEZ Group. I wish Lars Eberlein and his team all the best”.

Acquisition into new energy related sectors and further expansion of the Elevion Group
The acquisition by CEZ ESCO allows Elevion to expand its service portfolio into energy related areas and thereby to operate as an integrated service provider in the strongly dynamic German market. Furthermore, it is planned to selectively expand Elevion’s footprint into countries already covered by ČEZ Group. “The Elevion management and I are very happy about the strategic partnership with ČEZ Group. As one of the ten largest energy companies in Europe, ČEZ Group has extensive experience in the provision of ESCO services from which Elevion will hugely benefit. Through the partnership with ČEZ Group, Elevion can further develop its service portfolio towards energy related sectors“, says Lars Eberlein, CEO of Elevion.

The transaction, subject to anti-trust approvals, is expected to close in summer 2017.