Industries in Transformation
BAVARIA creates value by successful carve-out and sale of BBGS
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The project at a glance
Key Facts
Client
Bavaria Industries Group AG
Acquiror
Porr AG
Target
BB Government Services GmbH
Sellers
Bavaria Industries Group AG
Industries in Transformation
Vertical
small cap
Deal Size in EUR
Germany, Belgium, Italy, Austria
Countries
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2017
Year
“We are proud to announce that we found a strategic investor for BB Government Services GmbH who is capable of developing the company successfully. BAVARIA was able to realize significant value via this sale.”
Mark Walther
Managing Partner, Walther Transaction
Approach
BAVARIA had successfully completed the carve-out of BBGS from Bilfinger Group in 2014. The company was positioned as an independent entity working for the US Army. Via sale to a strategic investor who could develop the company further, BAVARIA was able to realize a significant capital gain within three years.
Challenges
Focus on the European market due to US investors’ focus on the domestic market after the election of Trump. Exert competitive pressure on an existing bidder with an insufficient offer. Qualify >80 relevant European players with a strategic interest.
Results
Bidding process leading to PORR as the most qualified strategic investor. End-to-end support of the entire transaction process including valuation, due diligence and negotiations.
