Industrial services: GvW advises PSS Group on the sale of its Scandinavian Veltec business
GvW Graf von Westphalen has advised Plant Systems & Services PSS GmbH (PSS) on the sale of its Scandinavian Veltec business in Denmark and Norway to Jernbro. The M&A transaction is still subject to regulatory approvals and other conditions.
With a turnover of 240 million euros and 600 employees in Germany, PSS is one of the leading national industrial services companies. Its subsidiaries ETABO GmbH, Veltec Service GmbH and Veltec GmbH & Co. KG provide comprehensive industrial services, support defossilisation projects and improve plant performance.
Jernbro is a leading provider of industrial maintenance and projects with 30 locations and 1000 employees in Sweden. Veltec's expertise in Denmark and Norway expands its extensive service portfolio in Scandinavia.
GvW advised PSS on this transaction by a cross-office team led by Düsseldorf partner Dr Malte Hiort with a team consisting of Laura Wemper (both Corporate/M&A, Düsseldorf), Dr Arne Schmidt (Tax, Hamburg), Christian Kusulis, Alexander Rösch (both Antitrust, Frankfurt), Andrea Torka (Finance, Frankfurt) and Marius Bodenstedt (Employment, Hamburg). Dr Malte Hiort has been advising the company for many years, including on the acquisition of the Veltec Group in 2018 (more).
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