German construction firm Bilfinger Berger said on Wednesday that it has expanded its services business with the acquisition of M+W Zander's facility management activities from the Austrian group Victory Industriebeteiligungen. In a statement, the company said that the output volume of its facility services will double to more than EUR 1bn as a result of the takeover. The parties have agreed to keep the purchase price confidential. The deal is subject to the approval of anti-trust authorities.
German construction firm Bilfinger Berger said on Wednesday that it has expanded its services business with the acquisition of M+W Zander's facility management activities from the Austrian group Victory Industriebeteiligungen. In a statement, the company said that the output volume of its facility services will double to more than EUR 1bn as a result of the takeover. The parties have agreed to keep the purchase price confidential. The deal is subject to the approval of anti-trust authorities.
M+W Zander FM employs 4,300 people, and generates an annual output volume of about EUR 500mln. The company, which provides technical, commercial and infrastructural facility management, works for well-known industrial groups and financial services providers such as IBM, EADS and Deutsche Bank. Three quarters of output volume is generated in Germany, but the group is also active internationally, especially in Austria and Switzerland. The company is also looking for new growth opportunities in Eastern Europe and Russia.
Services is Bilfinger Berger's fastest-growing business segment. In financial year 2007, output volume in the Industrial Services, Power Services and Facility Services divisions increased by 25% to EUR 3.6bn, the company said. 'Our services business will continue to grow and generate increasing earnings in the future,' said executive board chairman Herbert Bodner.
