IMAP advised the French construction group Colas on the acquisition of the construction and recycling business of the family-owned Frauenrath Group. This transaction marks Colas' entry into the German market, and is part of its ongoing growth strategy across Europe.

The Frauenrath Group’s construction and recycling operations comprise the road and civil engineering divisions, structural and turnkey construction, recycling, demolition, and remediation. In 2025, these activities generated revenues of approximately €150 million. Across all divisions, around 420 employees are currently based at the company’s locations in Heinsberg (Nordrhein-Westfalen) and Großröhrsdorf (Sachsen). As part of the transaction, the continued employment of all staff at both sites has been secured.

“This acquisition is fully in line with the Colas Group’s development strategy. We aim to grow in markets that offer strong potential for our industry, invest in key growth drivers, and further strengthen our international network. We would especially like to thank the entire IMAP team for their highly professional and dedicated support throughout the process,” said Oliver Kleebach, General Manager Western Europe, EMEA & Specialties Division.

Colas SA operates in various business segments across approximately 50 countries in Europe, Asia, Africa, as well as North and South America. The company currently employs around 64,000 people and generates annual revenues of €16 billion. Around 76 percent of Colas’ global revenues are currently generated in road construction, including maintenance and traffic safety services. Against the backdrop of Germany’s ongoing infrastructure modernisation, the acquisition of Frauenrath Group’s construction and recycling business is a well-timed strategic move for Colas, enabling it to benefit from the expected increase in public investment.

The IMAP team, consisting of Ralf Mittler, Philipp Noack and Levy Schattmann, advised Colas exclusively throughout all phases of a structured M&A process until its successful signing of the transaction.

Closing of the transaction is expected by the end of the first half of 2026 and remains subject to approval by the relevant antitrust authorities.