Clearwater International advises DBAG and Haspa BGM on the sale of R+S Group to NOKERA

Clearwater International has advised Deutsche Beteiligungs AG (DBAG) and Haspa Beteiligungsgesellschaft für den Mittelstand mbH (Haspa BGM) on the sale of 100% of their shares in R+S Group GmbH (R+S), a leading provider in the field of sustainable building services, to Swiss NOKERA AG (NOKERA), a producer of buildings in sustainable and serial construction. The closing of this transaction is subject to the approval of the antitrust authorities.

In 2020, Clearwater advised the shareholders of R+S on the sale of a majority stake to DBAG.

R+S Group, founded in 1988 and based in Fulda, Germany, is a leading provider in the field of sustainable building services and technology, trade, and future-oriented specialist work. The group’s portfolio ranges from project development and planning to implementation, incorporating innovative technologies and sustainable, holistic energy concepts. The expertise is reflected in the company’s references in municipal construction, healthcare, industrial production, and innovative ship technology. With up to 3,000 employees across 26 locations, R+S Group generates annual revenues of €365m.

NOKERA aims to sustainably transform the construction industry through a scalable and efficient approach to serial production with wood, thus actively driving the energy transition within the building sector. Serial new construction, serial refurbishment, and serial energy optimisation through heat pumps and photovoltaics are thereby served from a fully digitalised, scalable platform. With the acquisition of R+S NOKERA currently employs around 4,000 people in Germany and Switzerland.

NOKERA and R+S will jointly be able to position itself even more broadly in the area of sustainable and serial construction, as well as expanding its footprint in renewable energy through the combination of photovoltaic and heat pumps and other innovative technologies in the smart building sector. In recent months, the cooperation between NOKERA and R+S has grown and flourished to such an extent that an acquisition of the group to expand NOKERA’s overall portfolio was the logical consequence. Both companies want to make their contribution to more sustainability and against a lack of resources today and in the future. Through R+S group of companies, NOKERA is reaching the next stage in vertical integration.

DBAG invests in well-positioned medium-sized companies offering growth potential. DBAG’s sector focus is on manufacturers, industrial service providers, and IndustryTech enterprises – businesses whose products facilitate automation, robotics and digitalisation – as well as on companies from the broadband telecommunications, IT services, software and healthcare sectors. With this experience, know-how and equity, they support the implementation of their portfolio companies’ value creation strategies. As part of the Haspa Group, Haspa BGM is one of the leading equity investors in northern Germany for medium-sized companies, and currently manages a portfolio of around 20 investments, in the form of silent and open participations. Haspa BGM works with companies to develop individual and long-term solutions for growth or succession, together with experienced management teams.

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