The Swedish Storskogen Group has acquired a majority stake in the full-service building installation specialist Christ & Wirth Haustechnik GmbH. The company is an ideal addition to Storskogen's expertise in the installation sector and a strong extension of its industrial service activities in Germany.
In order to secure future growth and long-term development of the company, Frank Wirth, founder and CEO, decided to incorporate a structured succession solution. “I am pleased to have found a long-term new owner in Storskogen with whom I can continue Christ & Wirth’s successful path and plan my succession early on. I will continue to hold a significant minority stake and be the sole managing director of the Company. In the mid-term I will work closely with Storskogen to gradually expand our management team. The IMAP team provided me with very dedicated and competent support throughout the entire transaction process and discussions with Storskogen, resulting in a good outcome for all parties,” says Frank Wirth, founder and CEO of Christ & Wirth GmbH.
Christ & Wirth is one of the leading mid-sized full-service providers in the field of heating, air-conditioning, ventilation and sanitary engineering ("HVAC") for large-scale projects in the metropolitan areas Frankfurt, Leipzig and Berlin. The services offered cover the entire process starting with planning and consulting, through installation to maintenance of the HVAC systems.
Storskogen, founded in 2012, aims to acquire and operate well-managed and profitable small and medium-sized companies with leading positions in their respective markets. Storskogen is divided into the three business areas Services, Industry and Trade, totally comprising about 100 business units with around 7,000 employees, predominantly in Sweden as well as in the other Nordic countries, Germany, Switzerland and the UK.
The IMAP team consisting of Torsten Denker, Philipp Noack and Isabella Böing exclusively advised the shareholder of Christ & Wirth Haustechnik GmbH by way of running a competitive and structured M&A process through all phases.
The transaction is subject to the necessary approvals from the authorities and is expected to close in the first quarter 2022.