Roth Gruppe, a portfolio company of the Patrimonium Private Equity Fund, acquires Belfor (Schweiz) AG’s fire protection business. The acquisition will further strengthen Roth Gruppe’s position in the attractive passive fire protection business, and substantially enlarge its service offering.
The acquisition is part of the fund’s buy & build strategy to develop its portfolio companies.
Belfor (Schweiz) AG (“Belfor”) is part of Belfor Property Restauration group, a global player, who decided to dispose of its non-core fire protection business in Switzerland and other countries.
This add-on acquisition follows the successful integration of Lambda Technique d’isolation (Lausanne and Sion) in January 2022. It will add approx. CHF 7 million in revenues including a significant recurring service business.
The passive fire protection market proved to be resilient in recent years, due to higher regulatory standards and ongoing technical advancements.
With the transaction, structured as an asset deal, Roth Gruppe takes over employees, customer relationships and inventory from Belfor in Switzerland. The large majority of Belfor’s staff have signed an employment agreement with Roth Gruppe, and will be integrated into the company’s existing subsidiaries. The transaction closed on 20 January 2023.
Pascal Lustenberger, Investment Manager at Patrimonium Private Equity, says: “The employees of Belfor enjoy an excellent reputation and are an ideal complementation to Roth’s existing business and expertise in the passive fire protection market”.
The transaction was funded by the Patrimonium Private Equity Fund and the Swiss Entrepreneurs Fund as a co-investor.
Roth Gruppe was acquired by the Patrimonium Private Equity Fund at the end of 2020.
The activities in fire protection and insulation business complement the actively managed portfolio of the Patrimonium Private Equity Fund, which also, includes HübnerKTB (surface technology), Octo Actuators (electrical drive systems), Grouplink (IT-services) and B+G Switzerland (gardening and landscaping). Patrimonium Private Equity’s team has been responsible for 22 platform investments in the DACH region and over 35 add-on acquisitions.
About Roth Gruppe
Roth Gruppe employs a total of around 500 people at locations throughout Switzerland. Interlinked competence in the three specialist areas of insulation, fire protection and coatings, well-trained employees and a corporate policy that is sustainable for people and the environment are what distinguish the company. Thanks to its commitment and excellent execution on site, Roth Gruppe today carries out demanding projects throughout Switzerland in the public and private sectors and is one of the leading Swiss suppliers of insulation, fire protection and coatings.
About Belfor (Schweiz) AG
Belfor is a leading company in the prevention, restoration and renovation of damage. As a 360° full service provider, Belfor analyzes and restores fire, water and storm damage of all types and sizes and offers a wide range of solutions in preventive water protection as well as in renovation and repair. Belfor relies on over 50 years of global experience in these areas as well as state-of-the-art technical equipment and highly qualified employees.
Patrimonium Private Equity
Patrimonium Private Equity Fund SCSp is advised by Patrimonium Private Equity Advisors AG, a subsidiary of Patrimonium Asset Management AG (“Patrimonium”), a Swiss, FINMA regulated private markets fund management company that operates across the real estate, private debt, private equity and infrastructure asset classes. The firm is characterized by a direct and responsible investment approach and operates primarily in Switzerland, Germany and neighboring countries. Patrimonium Asset Management AG manages assets in the amount of CHF 4,2 billion. With offices in Lausanne, Zurich and Zug, the firm employs over 70 people.
Your Partner in Private Markets
Patrimonium Private Equity Fund Scsp
Patrimonium Private Equity – market search profile