Further expansion of Renner group - Financing by Volksbank eG – Die Gestalterbank and Sparkasse Rhein-Nahe
May, 2023 - Germany
With a Frankfurt-based team led by Partner Thomas K. Schrell, business law firm Heuking Kühn Lüer Wojtek advised Volksbank eG – Die Gestalterbank and Sparkasse Rhein-Nahe on funding the continued development of a service group for building technology by RENNER (formerly VIVENTEC).
Existing acquisition financing was significantly increased and supplemented by an additional anchor lender, Sparkasse Rhein-Nahe, which acts as agent and collateral trustee. In addition to the acquisition financing, additional corporate financing requirements are covered as well. The flexible and forward-looking funding covers the group’s medium-term expansion.
RENNER’s cross-industry service portfolio is comprised of planning, installation, networking, maintenance, and repair of building services equipment and systems throughout Germany. In order to be able to offer customized, energy-efficient, and cost-effective solutions and to promote continued environmental awareness for the benefit of future generations, the group aims to actively support the structural change of the industry and to assist its affiliates in meeting the technical, legal, and personnel challenges they face. The group currently consists of five companies employing approximately 300 individuals.
RENNER group’s main shareholder is GREENPEAK Partners, a company builder with a proven track record and comprehensive expertise in the foundation, development, and expansion of industry leaders within the German, Austrian, and Swiss markets. While executing its Buy & Build strategies, GREENPEAK aims at developing industry leaders by virtue of strong and close partnerships, ESG values, and aligned sustainable interests. Throughout the years, the GREENPEAK Partners team has built eight platforms that today generate annual revenue of over EUR 750 million. Recently issued and primarily capitalized by entrepreneurial families, GREENPEAK Partners Fund II with an investment volume of EUR 150 million to 200 million is an aspiring SFDR Article 8 fund and pursues an ESG theme-led, entrepreneurial Buy & Build strategy driving consolidation in attractive and pre-identified service niches in the DACH market. GREENPEAK specializes in three industrial areas: healthcare, business services, and services for real assets. GREENPEAK seeks value creation through technology employment in these sectors capitalizing on the megatrends of environment and sustainability.
Counsel to Volksbank eG / Sparkasse Rhein-Nahe
Heuking Kühn Lüer Wojtek:
Thomas K. W. Schrell, LL.M. (Lead),
Anja Harms (both Banking & Finance), both Frankfurt
