PORR acquires Heijmans Oevermann in Germany
PORR, a wholly owned subsidiary of PORR Deutschland, has acquired German construction company Heijmans Oevermann for €60m.
The company explains that this acquisition is in line with its strategic growth strategy in Germany and it would bolster its service range in traffic construction and building construction sectors.
The completion of the transaction is subject to the approval of the responsible competition authorities.
PORR CEO Karl-Heinz Strauss said: “The acquisition of Oevermann is a perfect fit for the PORR growth strategy.
"On the one hand, the longstanding company is an ideal complement to the PORR portfolio in Germany, on the other hand, our new subsidiary will benefit from our established service areas.”
Upon completion of the acquisition, the company will continue to operate on the market under the name Oevermann.
PORR anticipates that the regional presence of Oevermann and its expertise in traffic construction will make a significant contribution, and will be serving as a driving force to strengthen its presence in the building construction and traffic construction sectors in Germany.
PORR Deutschland managing director Frank Jainz said: “Oevermann enjoys an excellent reputation in both the private and public sector.
"With the merger, we will bring together the strengths of Oevermann and PORR and significantly consolidate our competitive positioning as a full-service provider”
Heijmans Oevermann has its expertise in the complete realisation of traffic routes such as motorways, highways and country roads, airfields and logistics sites, as well as holding interests in six asphalt mix works.
Image: Workers on a bridge. Photo: courtesy of PORR AG.