Oaklins Germany advised GFEP Family Equity on the sale of LET Gruppe to E.GRUPPE, a portfolio company of Gimv
LET GRUPPE TO BE ACQUIRED BY E.GRUPPE, A GIMV PORTFOLIO COMPANY, FROM GFEP FAMILY EQUITY, PENDING ANTITRUST APPROVAL
LET Gruppe, a leading German provider of customized electrical infrastructure and energy system solutions, is set to become part of E.GRUPPE, a fast-growing industrial platform backed by European investment firm GIMV. The parties signed a definitive agreement under which E.GRUPPE will acquire 100% of the shares in LET Gruppe from GFEP Family Equity, who has successfully supported the company’s growth and strategic development in recent years. The transaction is expected to close in the second half of 2025, subject to customary closing conditions and regulatory approvals.
About the target: LET Gruppe, headquartered in Ulm, Germany, is a long-established specialist in electrical engineering systems for industrial and energy infrastructure applications. The group includes LET Lüddecke, LET Services, ESV Erfurter Schaltschrankbau, and IMB Energy Systems, and operates across seven locations with around 200 employees. LET offers a comprehensive portfolio including custom-designed AC/DC distribution systems, low- and medium-voltage switchgear, uninterrupted power supply (UPS) systems, and tailored solutions for charging infrastructure and offshore wind power. The group covers the full project lifecycle — from planning and engineering to installation, commissioning, service, and maintenance — with an excellent reputation for technological precision and system reliability. LET’s solutions are used in mission-critical environments such as hospitals, data centers, industrial plants, and energy networks.
About the buyer: E.GRUPPE was founded in 2021 with the goal of building a leading electrical engineering group focused on energy and automation technology with a high degree of vertical integration — spanning design, engineering, manufacturing, installation, and lifecycle service. Following the acquisition of LET Gruppe, E.GRUPPE will comprise 365 employees across ten locations, establishing a strong presence in central and southern Germany. With its buy-and-build strategy, E.GRUPPE is developing a future-proof industrial platform in a highly fragmented market, offering integrated electrical engineering solutions tailored to the needs of industry and energy transition.
E.GRUPPE is a portfolio company of GIMV, a listed European investment firm with over €2 billion in assets under management and offices in Antwerp, Munich, Paris, and The Hague. Within GIMV’s Sustainable Cities platform, E.GRUPPE represents a strategic initiative in the energy infrastructure and automation space.
About the seller: GFEP Family Equity is a Munich-based investment advisory firm specializing in long-term, entrepreneurial partnerships with mid-sized companies in the DACH region.
Ralf Baumeister & Alexander Tewaag, Partners at GFEP Family Equity: “LET Gruppe has earned a reputation as one of Germany’s most trusted providers of mission-critical energy infrastructure due to its impressive technical know-how and dedicated teams. Since the acquisition of the first of four companies from its founder almost 10 years ago, LET has strived under the new management. Combining LET with E.GRUPPE is the ideal step forward to support the next phase of growth, especially in markets increasingly in need of energy transition, grid resilience, and renewable integration. We thank the Oaklins Germany team for their outstanding commitment and professionalism throughout this process.”
Karsten Maschler, Managing Director at Oaklins Germany: “We are proud to have advised GFEP Family Equity on this strategically important transaction. LET Gruppe has built a strong position in the field of critical energy infrastructure, and E.GRUPPE — backed by GIMV — is an ideal partner to support the next phase of growth. This deal reflects the high level of investor interest in resilient, engineering-driven business models for the energy transition markets and underscores Oaklins Germany’s commitment to delivering hands-on, senior-level execution in technically complex processes.”
Deal-Team bei Oaklins Germany:
- Karsten Maschler, Managing Director
- Felix Stehr, Senior Associate
- Kevin J. Kambach, Senior Associate