Habau and KHE Group Announce Sale of Pipeline Contractor Nacap
May 26, 2011KHE Group B.V. (Koop Group) from the Netherlands and Habau GmbH (Habau) from Austria have agreed on a sale of 100 percent of the shares in the Nacap group of companies. Under the agreement, Nacap activities will be combined with similar activities within the Habau Group.
Financial details of the transaction will not be announced. The existing business plans of Nacap will serve as the basis for the further expansion of the pipeline business in the Habau Group.
In view of the strong reputational and brand value, the activities of Nacap (3,000 people) will be continued under the Nacap name operating out of the current head office in Eelde, the Netherlands. The pipeline activities of Habau in Europe (PPS) and South America (Conduto) will, together with Nacap, be integrated in one energy cluster thereby creating the best positioned global leader in the pipeline contracting arena. The other business of the Habau Group like Engineering, EPC and Tunnelling will expand to the worldwide markets. The HDD and RAS activities of Nacap becoming part of Habau Group will create synergies in the area of horizontal directional drilling and hydro testing.
The Habau Group will employ more than 6,500 people with more than EUR 1.4 billion annual sales and have an extensive equipment fleet serving a range of reputable clients with whom it has built long-term relationships.
“I am very enthusiastic about this acquisition. Combining our companies creates a worldwide leading pipeline contractor. The acquisition fits excellently with our strategy aimed at expanding our pipeline contracting services. I see significant opportunities for synergies between our companies complemented with a close competence and cultural fit. Moreover, Nacap offers an excellent platform for future growth leveraging on leading positions in key markets,” said Habau CEO Karl Trauner.
“We are very thrilled with the support from Habau for the Nacap strategy. This is a good basis for further development of the combined pipeline activities in Europe, the Middle East, Australia and South America. There is a clear agreement regarding the continuity of Nacap’s identity and its strategy thereby providing substantial growth potential for Nacap’s activities. This acquisition offers an excellent opportunity for Nacap and its employees,” said Koop CEO Okke Koo.
Habau and Koop are of the opinion that the intended acquisition is in the best interest of both companies. Any direct implications for the workforce will be limited as a consequence of the complementary nature of the companies. Habau and Koop will make best efforts to avoid any forced redundancies. Looking ahead, the acquisition will lead to a stronger company with more opportunities for the personal development of its employees.