Revitalization of a corporate spin-off to become a part of an industry leader
GPEF III investment into Stangl Technik Holding, one of the leading providers of comprehensive technical building services in the Czech Republic and Poland, represents both a profitable spin-off from an international strategic player, as well as a successful co-investment with another financial sponsor.
In 2018, GPEF III partnered up with the Polish-based private equity firm Avallon and acquired a majority stake in Stangl Technik (formerly EQOS Energie) during a tender for a carve-out from a European corporate group, which intended to dispose of non-core businesses. An experienced management team, which had led the Company since its establishment in 2010, believed in its potential and co-invested alongside the financial sponsors as a part of the management buy-out.
The investment thesis was based on a well-defined development strategy to create an independent company through a rebuild of its corporate identity, diversification of revenue, and strengthening of its competitive position. Shortly after the transaction, the Company was rebranded, and a new corporate governance structure was set up. In 2020, Stangl Technik acquired ST Security, a firm specializing in installations of advanced security systems, which further broadened the Company’s service portfolio. During the four and half year investment period of Genesis Capital, Stangl Technik achieved substantial revenue growth and almost tripled its EBITDA.
The period leading up to the sale of the Company was characterized by macro-economic uncertainties and visible supply-chain disruption. Nevertheless, the Company remained focused on its main objectives - operational efficiency and excellent quality of services. This consistent management approach and continuous improvement in the performance led to several unsolicited approaches upon which the deal team decided to initiate the exit process. After a successful tender process, GPEF III came to an agreement for the divestment of Stangl Technik Holding with SPIE, the independent European leader in multi-technical services.