Gleiss Lutz has advised one of Sweden’s leading players in industrial services Jernbro on the acquisition of Veltec Nordics Holding GmbH. Completion of the transaction is expected in September 2024 and is subject to customary closing conditions and approvals.
Jernbro is a leading provider of industrial maintenance and projects with 30 locations and over 1,000 employees in Sweden. Veltec is a leader in the sector of industrial services with a strong presence in Norway and Denmark.
Jernbro is backed by Bluewater, a specialist international private equity firm focused on the energy sector. Bluewater is managing USD 2.5 billion of investment across a portfolio of 19 companies and has a prime focus on projects or technologies that contribute to the energy transition agenda. Bluewater has a strong focus on ESG and is a signatory to the UN Principles for Responsible Investment.
The combined team of approximately 1,300 employees will operate from over 35 locations throughout Sweden, Norway and Denmark, delivering end-to-end industrial services, support decarbonisation projects and improve operational performance.
In addition, teams of Wikborg Rein Advokatfirma AS and Accura Advokatpartnerselskab advised Jernbro on the acquisition.
The following Gleiss Lutz team has advised Jernbro: Dr. Jan Balssen (lead, partner), Dr. Stephanie Dausinger, Dr. Adrian Schulz (all Munich), Dr. Pirmin Emanuel Schreiner (all M&A, Berlin), Dr. Stefan Mayer (partner), Dr. Dominik Monz (both Frankfurt), Jochen Pfleger (all Tax, Hamburg), Dr. Alexander Molle (partner, Berlin), Christian Eulenpesch (both Commercial, IP/Tech, Stuttgart).
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