Altor and SMS Eye Kaefer Stake Sale
Altor Equity Partners and SMS Group are considering a potential sale of their stake in Bremen-based industrial services group Kaefer, in a deal that would value the business in excess of €2bn, according to a report by Bloomberg citing unnamed sources close to the matter. The 50% stake held jointly by the two firms is being marketed with the assistance of Deutsche Bank AG.
Kaefer’s Operations and Financials
Kaefer employs around 35,000 staff and delivers technical services including insulation, scaffolding, and surface protection across industries such as oil and gas, shipbuilding, and mining. The company generates approximately €250m in EBITDA annually and has attracted interest from private equity investors, as noted in the report from Private Equity Wire.
Ownership Background
Kaefer’s founders, the Koch family, sold their 50% stake to Altor and SMS in 2021 to support the firm’s focus on sustainable initiatives, including energy transition and decarbonisation. This transaction established Altor and SMS as joint holders of that stake, according to the same report.
Current Deal Status
Discussions regarding the potential sale are at an early stage, and there is no certainty that a transaction will materialise. Representatives for Altor, SMS, Deutsche Bank, and Kaefer all reportedly declined to comment, as per information from Private Equity Wire.
