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Dussmann acquires STS Group

International multi-service provider, the Dussmann Group, Berlin, has agreed to acquire Irish headquartered specialist engineering company, STS Group.

The deal is expected to be closed in June 2019 and is subject to approval of the German antitrust authorities. The parties have agreed to keep the purchase price confidential.

Speaking about the acquisition, Dr. Wolfgang Häfele, Dussmann Group Executive Board Spokesman said: “We recently announced the progression of the “Dussmann Next Level” strategy program, the establishment of a new business unit, Dussmann Technical Solutions, or DTS, and the finalisation of a major strategic acquisition.

“I am now happy to announce that we have entered into a binding agreement to complete that deal with the acquisition of STS. STS is a high-quality technical services provider, operating across multiple regions with a blue-chip client list. This business will be the cornerstone for the creation of DTS and complement our existing technical engineering services offering, that is refrigeration and air-conditioning with DKA in Germany, and elevator systems with HEBO also in Germany.” 

DTS will establish a new divisional head office in the German city of Frankfurt/Main to coordinate a roll-out of services across the region and where appropriate, incorporate resources from STS, DKA, and HEBO to the benefit of clients. The existing operations of STS will remain an independent subsidiary within DTS and all staff and employees of STS will be unaffected post acquisition. The senior management team of STS, headed by the Company Chairman, Eddie Walsh and Managing Director, Richard Hogan will remain with STS in their existing roles post acquisition.

Walsh, Chairman of STS commented: “The combination of STS with the Dussmann Group provides an excellent opportunity for both our clients and the employees of the Company. Our clients will continue to enjoy the same level of superior service, delivering complex technical projects within time and on budget but post acquisition will also benefit from the increased scale and investment as part of a €2.3 billion turnover group. Similarly, our employees will find increased opportunity provided by the ambition of Dussmann for the company and the ability to generate new business in new regions and sectors.

“Myself, along with the entire senior management team are very happy to become part of the Dussmann Group and are excited by the opportunity that this transaction brings for all our clients and staff alike.”

The STS deal follows the acquisition of Gaetano Paolin, an Italian technical services provider in 2018. Gaetano Paolin installs and services air conditioning, ventilation, refrigeration and heating systems, electrical and mechanical systems and provides servicing and after-sales services.

There are also further complementary acquisitions planned.

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