25 / 11 / 2024
Viessmann Generations Group acquires ISOPLUS from Egeria to strengthen sustainable solutions for heat distribution
The Viessmann Generations Group (“Viessmann”), a purpose-driven family company with a heritage of 107 years, has entered into a definitive agreement to acquire the ISOPLUS Group (“ISOPLUS”) from Egeria. ISOPLUS is a leading European provider of pre-insulated pipes, mainly for district heating and district cooling applications. The investment underscores Viessmann’s dedication to advancing the green energy transition by enhancing infrastructure to support decarbonization in Europe. ISOPLUS has been a portfolio company of the private equity firm Egeria since 2022.
The agreement was signed on November 20 and is still subject to regulatory approvals by the competent authorities. Final closing is expected for the year end of 2024. Financial details of the transaction have not been disclosed.
Hannes Rumer, Managing Partner Egeria Beteiligungen, Munich: “It has been such a privilege for Egeria supporting ISOPLUS on their successful journey in the last years in Europe. Viessmann is the perfect partner to take this great company to the next stage.”
Oliver Frey, Chairman of ISOPLUS: “The last years have been a great entrepreneurial team-up with a very passionate ISOPLUS management team, which was invested alongside Egeria. It enabled them to grow the business internationally, also via recent acquisitions in Finland (Uponor District Energy) and France (Solice). With Viessmann, ISOPLUS has now found a long-term industrial home.”
Roland Hirner, CEO of ISOPLUS: “Our employees’ great commitment and dedication have been instrumental in establishing ISOPLUS as a strong player in the European market. With Viessmann on board, we will continue serving our loyal customer base and will take ISOPLUS to the next level.”
Max Viessmann, CEO of Viessmann Generations Group: “We are thrilled to welcome ISOPLUS to the Viessmann family and its network of dedicated, responsible entrepreneurs. By joining forces, we can rapidly advance sustainable infrastructure, paving the way to lower emissions and integrate renewable energy into daily life. This partnership strengthens our commitment to building a resilient energy landscape, co-creating living spaces for generations to come.”
Egeria was advised by Macquarie Capital (M&A), Clifford Chance (Legal), Poellath (Tax and Structuring), AFRY (Commercial), BDO (Financial), Tauw (Environmental) and Holthoff-Pförtner Wassermann (Tax). Viessmann was advised by BCG (Commercial), Kearney (Operations), Schalast (Legal), Rödl (Financial & Tax) and ERM (Environmental).
About Viessmann Generations Group
Founded in 1917, the independent family company Viessmann is today a global, broadly diversified Group. All activities are based on the company’s purpose “We co-create living spaces for generations to come”. This is the passion and responsibility that the large worldwide Viessmann family brings to life every day. Viessmann forms an ecosystem of entrepreneurs and co-creators with a clear focus on CO2 avoidance, CO2 reduction and CO2 capturing.
About ISOPLUS
Headquartered in Rosenheim, Germany, ISOPLUS is a leading European provider of pre-insulated piping systems, mainly for district heating and district cooling applications. ISOPLUS serves its dispersed customer base of local utility providers, municipalities and contractors through a direct sales model. The group employs more than 1,500 people, has 10 certified production sites and is active in over 30 countries.
About Egeria
Egeria is an independent pan-European investment company founded in 1997 and focuses its investments on medium-sized companies. Egeria invests in healthy companies with an enterprise value between EUR 50 million and EUR 350 million. Egeria believes in investing in great businesses together with entrepreneurial management teams (Boldly Building Together). Egeria’s Private Equity portfolio comprises investments in 21 companies with a combined turnover of c. EUR 3 billion and over 13,000 employees.