Germany-based tunnel logistics specialist Mühlhäuser makes the first acquisition of its 100-year history as it looks to diversify operations into the tunnel lining market sector.
Just a year after successful handover of the management reins to the fourth generation at Mühlhäuser, the company unveils a new strategy, a full order book and acquisition of Obermann of Germany.
“For the last few months we have been working intensively on a long-term growth strategy and we are proud that we are already able to report several initial successes,” said Managing Partner Hubertus Mühlhäuser.
“We are becoming a full-range logistics supplier for tunnelling construction and mines and offer both tracked and trackless transportation solutions. The strategic product enhancements that we have developed jointly with our partners have been well received in the market and have resulted in several big orders over the last few months. We are going into 2015 with record high order book volumes,” said CEO Markus Rechner.
In addition to logistics order growth, however, the company sees future potential in the tunnel lining sector. Rechner explained: “This is why, over the last few months, we have been holding discussions with Obermann from Germany; they are the market leader in injection and grouting technology for tunnel and special foundation construction, and this is a product range that Mühlhäuser was previously unable to offer.”
“These discussions have been highly constructive and fruitful and, as a result, Karl-H. Mühlhäuser is now taking over 100% of the Obermann share capital and will be transferring business operations to Michelstadt, Germany,” said Hubertus Mühlhäuser.
Mühlhäuser’s new finance chief Rainer Oestreicher, who took up his post in November last year (2014), helped coordinate the deal. The 46-year-old is a former member of the Herrenknecht management board, and once worked for the construction business unit of Bilfinger.
Obermann owner Klaus Obermann, aged 72, said: “For me, this is the fulfilment of my dearest wish. A life’s work which my wife and I have accomplished over a period of 37 years is now being entrusted into safe hands and will have a secure future with Mühlhäuser. I will be assisting the company in an advisory capacity over the next few years and, in particular, I will be working on innovations and new products.”
Mühlhäuser’s product portfolio ranges from tracked and trackless logistics equipment for haulage, supply and service, through to shotcrete machines and specialist custom-built machines. Founded in 1907 by the Mühlhäuser brothers, the company employs approximately 80 staff at its Michelstadt headquarters and has a global network of cooperation partners. Since 2013 it has been owned by Hubertus Mühlhäuser, who is a fourth-generation family member.