Carlsquare advised vitronet Holding GmbH on the sale of Sandmann Infrastruktur GmbH to New Energy Group, a Northern German infrastructure services platform backed by Deutsche Beteiligungs AG (DBAG).
Headquartered in Sternberg, Germany, Sandmann Infrastruktur GmbH is an established regional provider of infrastructure services for energy and utility networks. The company combines project-based construction activities with recurring metering services, covering the entire lifecycle of critical infrastructure assets. Its service portfolio includes cable and pipeline works, overhead-line activities and grid-connection projects – including connections for wind and solar parks – as well as meter management services covering the installation, replacement and servicing of electricity, gas and water meters.
New Energy Group focuses on network services, engineering, and testing and inspection technologies for energy and utility infrastructure. Its platform company, TBD Technische Bau Dienstleistungen GmbH, has been operating since 2005 and provides technical services to utilities from six hubs across Northern Germany, employing approximately 380 qualified and certified specialists.
Sandmann represents a strong strategic and geographic fit for New Energy Group. The transaction extends the group’s footprint into northeastern Germany, adds Sandmann’s established network services and metering capabilities, and broadens both its customer base and service offering. Following the transaction, Sandmann will become a sister company to TBD within New Energy Group, retaining its name and existing management team.
“The transaction delivers a compelling outcome for vitronet and provides Sandmann with a strong new owner for its next phase of growth. Carlsquare was a highly committed partner throughout the process, helping us create competitive tension, navigate complex negotiations and secure a transaction that recognizes Sandmann’s value.” – Roger Iliffe, CEO, vitronet Holding GmbH
“With Sandmann Infrastruktur, our group is gaining a company that shares many of our values. Quality, reliability and mutual respect are just as important there as they are across the entire group.” – Andrea Winzen, CFO, New Energy Group
Carlsquare acted as the exclusive financial advisor to vitronet Holding GmbH.
