Member Article

Kaefer C&D sells shares to German owner

A Tyneside and Midlands-based industrial services firm, has sold off its stake in the business to its German owner for an eight figure sum.

Kaefer C&D, formerly known as C&D Industrial Services, sold its shares to German shipbuilders and power giant, Kaefer GMBH, after it was advised by law firm, Muckle LLP.

Kaefer C&D, which has bases in Nottingham and Jarrow, provides insulation, scaffolding, and ductwork for large-scale industry projects, especially in the power generation sector for offshore fuel platforms and for aircraft carriers.

Before the deal announced on Thursday, Keafer GMBH held 51% of C&D Industrial Services for five years, sharing profits and contracts whilst working alongside each other.

The remaining percentage of the business was then bought up for the firm to become Kaefer C&D.

Commenting on the deal, Muckle LLP’s partner and head of its corporate team, Robert Philips said: “The team at Kaefer C&D has grown the business substantially since the management buy in. They quickly became a target for acquisition and investment themselves.

“In 2007 they started negotiations with Kaefer GMBH, a German based, major projects business that also provides integrated services to the power and ship building industries.

“The company has held its own and has been an active part of the power generation, ship building and offshore industries, making a significant contribution to the North East economy.”

Alan Green, managing director of Kaefer C&D commented: “Robert and the team at Muckle LLP have been integral to supporting the growth and development of our business.

“They have been an important part of the team – perhaps never more so than in advising on the acquisition by Kaefer in what was quite a complex deal. Their advice has been invaluable over the years.”

The company said it would keep the current management team to run the business for the immediate future as it undergoes change.

This was posted in Bdaily's Members' News section by Miranda Dobson .