Alantra advised ADCURAM on the sale of ADCURAM Fertigbauholding to Equistone

Jan 2018

Sell-side advisory

Alantra has advised Adcuram on the sale of the ADCURAM Fertigbauholding (“Prefab Group”), consisting of three leading prefabricated house brands Bien-Zenker, Living Haus and Hanse Haus. The transaction is subject to customary regulatory approvals.

With main operations located in Schlüchtern, Hesse, and Oberleichtersbach, Bavaria, Prefab Group’s three leading brands offer a complementary house portfolio in the fast-growing German prefab market for residential housing, covering all prefab house completion levels from building shell to turnkey luxury homes. Based on a convincing value proposition, prefab houses enjoy increasing popularity which translates into constant market share growth in Germany vis a vis conventionally built houses. Under ADCURAM ownership and the leadership of an experienced management team, Prefab Group has evolved to the second largest manufacturer of prefab houses in Germany, demonstrating significant revenue growth from approximately € 200m in 2014 to more than € 300m in 2017 as well as industry leading margins.

Alantra’s Frankfurt team provided both M&A and Debt Advisory services. Prior to a competitive auction process, Alantra’s Debt team conducted a comprehensive lender education allowing to increase transaction certainty for both ADCURAM and a potential buyer.

“The sale of ADCURAM Fertigbauholding marks the third sale for ADCURAM conducted by Alantra within the last five years after managing the divestiture processes for CaseTech and Duran. We are extremely happy with the development of the Prefab Group and the outcome of this transaction. Once again, the Alantra team proofed their expertise in structuring a tailor-made sale process, with a combination of M&A and Debt Advisory services,” commented Armin Bire, Member of the Executive Board of ADCURAM.

“We have very much enjoyed working with the Alantra team during this transaction. The close guidance of our management team, the enthusiasm for our business and the very diligent preparation and assistance through the entire process contributed significantly to a successful outcome”, commented Marco Hammer, CEO of Hanse Haus.

Established in 2003, ADCURAM is a reliable partner for medium-sized businesses and conglomerates. The industrial group acquires companies with development potential and provides active support for sustainable success. A dedicated team of 40 experts provides strategic and operational advice for its investments. In total, ADCURAM generates sales of approx. € 500m across six portfolio investments and has around 2,500 employees.