Deal Announcement 09/20: Engineering & Construction

PwC acted as exclusive financial advisor to Keller Group plc on the sale of Wannenwetsch GmbH to DEUBIS Group, one of the market leaders in corrosion protection and concrete repair and a portfolio company of DPE Deutsche Private Equity

The Deal

The PwC M&A team is pleased to announce the successful sale of Wannenwetsch GmbH (“Wannenwetsch”). Wannenwetsch is a service provider for high-pressure water jets used in the building renovation sector. As part of a strategic refocusing on core activities, Keller Group plc decided to sell the company. In the course of the structured, international M&A process 100% of the shares were acquired by the DEUBIS Group (“DEUBIS”). Wannenwetsch drew strong interest from strategic investors. For DEUBIS, Wannenwetsch is an ideal portfolio extension with great synergetic potential. It will be operated on a stand-alone basis.

All employees of Wannenwetsch were taken over in the course of the transaction. The transaction was closed in September 2020.

Wannenwetsch GmbH

Founded 1991, the company is a special service provider in the building renovation industry. Core competencies of the company rely on the high-pressure water blasting technology. It offers hand-held removal devices and powerful removal robots for large-scale renovations. Furthermore, the company is leading in the development and production of standard and tailor-made special equipment for surface treatment and removal. In the financial year 2019, the company generated sales of €8m with 48 employees.


The DEUBIS Group employs more than 500 people at 16 locations in three countries. The growth investor DPE, which focuses on medium-sized companies, acquired a stake in DEUBIS in June 2019. The company is specialized in building restoration, especially in concrete and corrosion protection. Aim is to develop the company to a leading group in the field of building maintenance through organic growth, acquisitions and partnerships.

Keller Group plc

Keller Group plc is an international ground engineering specialist. The Company provides technically advanced solutions and services such as ground improvement, grouting, foundations post-tension-systems and earth retention. It is listed on the London Stock Exchange and employs more than 10.000 employees. In 2019 revenues amounted to 1,092m GBP.


The global PricewaterhouseCoopers network is a worldwide association of independent auditing and consulting companies which together employ more than 280,000 people in 157 countries. Our global network comprises nearly 1,600 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 PwC M&A team is market leading in Germany for mid-cap transactions.

The transaction was led by Timo Klees (Partner), Fabian Dalka (Senior Manager) and Julian Coley (Manager).

Deal Announcement 09/20: Industrial Products

Contact us

Timo Klees

Timo Klees

Partner, Head of Corporate Finance | M&A Distressed & Special Situations, PwC Germany

Tel: +49 151 10060451

Martin Schwarzer

Martin Schwarzer

Partner, Corporate Finance | M&A Automotive & Industrial Products, PwC Germany

Tel: +49 160 97228977

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