Deal Announcement 07/25: Engineering & Construction

The Deal

The PwC M&A team is pleased to announce the successful sale of PFEIFER Structures GmbH and its subsidiaries (“PFEIFER Structures”) to Carl Stahl Holding GmbH (“Carl Stahl”).

PFEIFER Structures is a globally recognised, leading EPC for innovative lightweight architectural solutions, including cable structures, membranes and retractable solutions, with an international footprint and locations in Germany, Austria, China, Singapore, Qatar and the United Arab Emirates.

With the acquisition, Carl Stahl, a globally operating group with a focus on cable and lifting technology, architecture, and safety solutions, with 70 locations and over 2,000 employees globally, expands its expertise in a future-oriented market with strong tailwinds.

The carve-out of PFEIFER Structures, a division of PFEIFER Group, will allow both companies to focus on their core business. PwC prepared and organised an international and highly competitive M&A process, attracting both local and international strategic investors. FLOWFRAME, the majority shareholder of PFEIFER Group, has supported as part of the transaction.

The share purchase agreement was signed and consummated in July 2025.

PFEIFER Structures GmbH

PFEIFER Structures is a globally recognised, leading provider of innovative lightweight architectural solutions. Positioned as a “one-stop-shop”, PFEIFER Structures offers engineering and project management as well as in-house manufacturing of membranes and key elements of (retractable) roof structures for lightweight construction solutions. PFEIFER Structures employs around 100 employees.

FLOWFRAME SE

FLOWFRAME is a regionally rooted, internationally active investor and entrepreneurial partner. Leveraging their experience and expertise, the company works hand in hand with entrepreneurs to unlock their full potential and drive sustainable growth. FLOWFRAME strengthens companies at every stage of development and guide them onto a stable, long-term profitable growth trajectory. Their focus lies in the realignment of established mid-market companies in special situations – whether restructuring, succession planning, or other key challenges. FLOWFRAME serves as the investment vehicle for the successful founders and entrepreneurs behind leading mid-market companies such as CANCOM and AL-KO.

Carl Stahl Group

Carl Stahl is a multinational company headquartered in Germany, known for its expertise in the fields of lifting technology, architecture, and personal protective equipment. Founded in 1880, the company has steadily grown into a global enterprise with 70 locations and more than 2,000 employees globally. Carl Stahl offers a comprehensive range of products and services including lifting gear, crane components, rope systems, and safety equipment, catering to various industries such as construction, manufacturing, and transportation. The company is renowned for its innovative solutions, commitment to quality, and focus on safety and sustainability.

PwC

The global PricewaterhouseCoopers network is a worldwide association of independent auditing and consulting companies which together employ more than 370,000 people in 149 countries. Our global network comprises over 2,900 M&A professionals all over the world, realising approx. 400 successful transactions per year. We specialise in a wide range of independent M&A services including advice on acquisitions and disposals, mergers, public takeovers, privatisations as well as structured financing.

The transaction was led by Alexander Knögel (Partner) and David Schaibasjan (Senior Manager) and supported by Ole Aschenbrenner (Associate).