Construction company ZECH Bau SE have taken over Wolff, a fellow company in their industry.
In a strategic move to strengthen its position and increase market presence, ZECH Bau SE has announced the acquisition of Wolff Hoch- und Ingenieurbau GmbH & Co. KG. The deal, which is scheduled for September 1, 2023, includes approximately 80 employees, including around 50 skilled workers, and the fixed assets of Wolff Hoch- und Ingenieurbau.
The Saarbrücken-based construction company specializes in the planning, specialized planning, and execution of all trades under one roof. This acquisition will enable ZECH Bau to broaden its regional coverage and enhance its construction and engineering capabilities, particularly in the industrial, healthcare, and logistics sectors.
The takeover is expected to create operational synergies, optimizing project execution and potentially reducing costs through shared knowledge and infrastructure. Moreover, the integration is anticipated to result in increased competitiveness for ZECH Bau, enabling it to better compete for large-scale construction projects, infrastructure development, and complex engineering assignments in these areas.
The insolvency administrators and the creditors' committee have welcomed the takeover by ZECH Bau. Martin Herrmann, Managing Director of Wolff Hoch- und Ingenieurbau GmbH & Co. KG, expressed his joy at finding a strong partner in ZECH Bau SE and will continue to lead the business as branch manager. Harald Supper, CEO of ZECH Group SE, expressed confidence in the expanded power of ZECH Bau in the Saarland, Rhineland-Palatinate, and the Rhine-Neckar region.
Approval from the Federal Cartel Office is expected in the near future. The ongoing and planned projects of Wolff Hoch- und Ingenieurbau will be taken over by ZECH Bau, further solidifying ZECH Bau's position in these regions. The acquisition is a strategic move by ZECH Bau to solidify and expand its market position, bringing growth opportunities and stronger service capabilities to the Saarland and Rhineland-Palatinate construction markets.
Wolff Hoch- und Ingenieurbau, founded in 1892, opened insolvency proceedings under self-administration on January 1, 2023. The purchase agreement has been approved by the creditors' committee, but approval from the Federal Cartel Office is still pending. This acquisition marks an exciting new chapter for both companies, as they embark on a journey towards a stronger, more competitive future in the construction industry.
The acquisition of Wolff Hoch- und Ingenieurbau GmbH & Co. KG by ZECH Bau SE will allow for a broader regional coverage and enhanced construction and engineering capabilities in the industrial, healthcare, and logistics sectors, both companies being active players in the business and finance industry.
The integration of Wolff Hoch- und Ingenieurbau is expected to produce operational synergies, potentially leading to cost savings through shared knowledge and infrastructure, and increased competitiveness for ZECH Bau, making it stronger in competing for large-scale projects in these areas.
