EMZ Partners acquires majority of leading gas and water metering solutions provider Pipersberg. Current CEO Mr. Fischer re-invests a significant portion of his proceeds and the broader management team also ramping-up their stake in the share capital of the Group.
The European private equity firm EMZ Partners has entered into a binding agreement to acquire a majority stake in Pipersberg, headquartered in Remscheid near Dusseldorf, Germany. Current CEO Peter Fischer, who has been part of Pipersberg for more than 28 years and together with the entire workforce of c.120 employees drove the successful development of the firm, will remain in his role as manager and shareholder. Underling the promising outlook of the firm, the broader management team and further employees are joining as significant shareholders of the Group.
Founded 1843 in Remscheid, Pipersberg manufactures, calibrates, certifies and distributes gas and water meters and offers a comprehensive range of services from new meter installations, scheduled meter replacements, testing and repairs to logistics.
With a combination of own as well as sourced components, the firm offers tested end-to-end solutions enabling remote reading (“smart meter gateway”) and thus drive digitalization in the gas and water meter market. Over the last years, Pipersberg consistently expanded its product portfolio with new, innovative products through industrial partners and in-house developments. The Group is considered one of the leading full-service and one-stop shop providers for gas and water meters in Germany for more than 175 years.
In a highly regulated and mission-critical market, Pipersberg works alongside and established unique relationships with leading municipal utility companies allowing for highly resilient revenues. Pipersberg exhibits highly attractive growth alleys through digitalization, replacement cycles, favorable legislations as well as expansion of the existing product portfolio.
”The recent developments, driven by Mr. Fischer and the broader management team have been nothing short of amazing. Pipersberg now is in a unique position as leading “one-stop-shop” in the German gas and water periphery and developed a concept that allows for continuing profitable growth. We are thrilled to join forces and are convinced that together, we will reach the next level and phase of the company“, says Klaus Maurer, Managing Partner, EMZ.
Peter Fischer, CEO of Pipersberg, adds: ”We are proud of what we have achieved, but it doesn’t stop here. Together with EMZ Partners as new majority shareholder, we can further expand our product spectrum and capabilities to access markets beyond our current reach. We are delighted to having found a partner who shares our vision and supports our strategic initiatives. We continue to provide the highest standards with innovative solutions to become an even more trusted, strong and competent partner for our customers. In addition, I would like to express my sincere gratitude towards my predecessor and long-term member of the advisory board Hans Lohmann, who together with the family shareholders paved the way to success.”
Completion is subject to regulatory approval and the terms of the transaction were not disclosed.
EMZ was advised by Alantra (M&A), Latham & Watkins (Legal, Corporate and Structure), goetzpartners (Commercial), Deloitte (Financial & Tax), Lincoln International (Debt Advisory) as well as Shearman (Legal Financing).
Pipersberg and its selling shareholders were advised by IMAP (M&A) and Breidenbach (Legal & Tax)
ABOUT EMZ PARTNERS
EMZ is a leading European investment firm that acts as a partner for medium-sized companies and their respective management teams. Its activities focus on investments in the DACH region as well as France with a clear intention to operate and support founders, family shareholders, and managers. The core of EMZ’s philosophy is a significant reinvest of the management team to create a mutual partnership as shareholders.
EMZ is majority-owned by its own employees and has a base of European institutional investors. The current fund has a volume of more than €1.0 billion and its investment size ranges from €10 to €150 million.
Founded in 1843, Pipersberg is considered as one of the leading German specialist service companies for gas and water meters as well as smart metering communication technology with a broad service portfolio complementing the offering. The firm employs a workforce of >120 people and caters utility and energy supply companies as a full-service partner across the entire value chain from warehousing, logistics, installation, maintenance, repair, testing, recertification, refurbishment, and meter disposal as well as training offerings.