One Equity Partners (“OEP”), a middle market private equity firm, has signed a definitive agreement to acquire the core operating assets of Muehlhan AG.
Founded in 1881 and headquartered in Hamburg, Muehlhan is a broad-based Industrial Services provider specializing in wind services, surface protection, steel services, passive fire protection, scaffolding and insulation works. Originally rooted in the maritime industry Muehlhan has successfully expanded its services portfolio tailored to individual requirements of its core end-markets: wind energy, maritime and infrastructure. Muehlhan’s strong reputation is based on the Company’s mindset of combining unparalleled customer focus with industry leading capabilities, capacities and competences, to ensure consistent superior performance that meets even the most challenging customer demands.
“We believe that OEP will accelerate our growth strategy of providing industrial services to the three core industries: wind energy, marine and infrastructure, extending our geographic reach and broadening our service portfolio. OEP has a long track record of driving their investments forward, especially through strategic add-on acquisitions,” said Muehlhan AG’s CEO – Stefan Müller-Arends.
“Our strategy is to quickly scale the renewables, marine and infrastructure businesses through acquisitions and become an even better provider to renewables OEMs, marine clients and public infrastructure providers, while benefitting from the strong underlying growth in each of the three end-markets. The underlying end-markets exhibit attractive growth prospects and are backed by global efforts to decarbonize energy, U.S. infrastructure investments and increasing naval defense budgets in light of the recent geopolitical complexities,” said Philipp von Meurers, Managing Director at OEP.
“Muehlhan has successfully broadened its service offerings beyond maritime into high-growth adjacent markets such as wind energy, thereby capitalizing on the trend of decarbonizing energy production. The combination of asset aging and new installations is expected to benefit offshore operations and the maintenance market, which is expected to grow by a double-digit CAGR between 2020 and 2025,” said Vittorio Palladino, Vice President at OEP. “We know the market well and believe Muehlhan is a great platform to consolidate the fragmented coating services market. We look forward to supporting the Muehlhan team on its ongoing success story and help the company expand its footprint in attractive growth markets such as the U.S., but also further increase density in its core markets including Germany and the Nordics.”
About One Equity Partners
One Equity Partners (“OEP”) is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm seeks to build market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 300 transactions worldwide. OEP, founded in 2001, spun out of J.P. Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt and Amsterdam.