Gimv portfolio company E.GRUPPE, a leading provider of electrical engineering solutions for industrial and energy customers, is expanding its range of services and regional coverage through its merger with LET.
With over 50 years of market experience, the LET Group, comprising LET Lüddecke, LET Services, ESV Erfurter Schaltschrankbau and IMB Energy Systems, will now specifically supplement the existing service and product portfolio of E.GRUPPE with additional technical expertise. The merger also offers a deepening of existing expertise in switchgear and control cabinet construction as well as automation technology. After the merger, E.GRUPPE will have 365 employees at 11 locations, giving it significant coverage in central and southern Germany. The goal is to offer customers a wide range of services and products with extensive expertise in customised electrical engineering solutions.
GIMV received comprehensive legal advice on the transaction from the private equity team at Reed Smith's Munich office under the overall project management of partner Dr. Nikolaus von Jacobs (corporate). Partner Dr. Germar Enders and associate Matthias Weingut (both also Munich, corporate) were also involved.
Dr von Jacobs commented: “We are delighted to have once again successfully supported Gimv in a transaction. Our long-standing and successful cooperation with Gimv, which we intend to continue for many years to come, is an important component of our growth strategy, and we are grateful for the trust that has once again been placed in us.”
The transaction is subject to approval by the competition authorities. The parties have agreed not to disclose the transaction volume.
Dr. Nikolaus von Jacobs and Dr. Germar Enders had already advised GIMV on the acquisition of WEMAS and on the sale in 2024.
About Gimv:
For over 40 years, Gimv has been identifying innovative companies with high growth potential and supporting them on their path to market leadership as a European investment company. Gimv is listed on Euronext Brussels and currently manages a portfolio of around 1.6 billion euros, comprising over 60 investments. Together, the portfolio companies generate annual revenues of more than €4.5 billion and employ over 20,000 people.
About E.GRUPPE:
The E.GRUPPE aims to pool technical expertise, tap into growth potential in a targeted manner and offer customers a comprehensive, future-oriented range of services from a single source. Organic growth and the integration of specialised and regionally established companies are creating a leading group of companies in the highly fragmented electrical engineering industry. The E.GRUPPE offers its companies and employees long-term growth and development prospects – and creates the basis for sustainable joint success.
About LET Gruppe:
The LET Group, headquartered in Ulm, Germany, is a provider of comprehensive electrical engineering solutions for industrial and energy customers. The company specialises in switch cabinet and distribution board construction as well as solutions for uninterruptible power supply. The LET Group comprises four companies – LET Lüdecke, LET Services, ESV and IMB – which are represented at a total of seven locations with around 200 employees. The group supports its customers along the entire process chain – from planning, production and commissioning to service and maintenance – and thus offers reliable solutions from a single source.