Gimv subsidiary E.GRUPPE takes over LET Group

Rheinau/ Nidderau/ Ulm/ Munich — The Gimv port­fo­lio company E.GRUPPE, a leading provi­der of elec­tro­tech­ni­cal solu­ti­ons for indus­trial and energy custo­mers, is expan­ding its range of services and regio­nal coverage with the acqui­si­tion of the LET Group.

The E.GRUPPE was foun­ded in 2021. The aim is to build a leading elec­tri­cal engi­nee­ring company with a focus on energy and auto­ma­tion tech­no­logy and a high degree of verti­cal inte­gra­tion: from consul­ting and plan­ning to engi­nee­ring, produc­tion, instal­la­tion, service and main­ten­ance of custo­­mer-speci­­fic elec­tri­cal engi­nee­ring systems. 

With over 50 years of market expe­ri­ence, the LET Group, with the compa­nies LET Lüdde­cke, LET Services, ESV Erfur­ter Schalt­schrank­bau and IMB Energy Systems, will now supple­ment the E.GRUPPE’s exis­ting service and product port­fo­lio with addi­tio­nal tech­ni­cal exper­tise such as unin­ter­rup­ti­ble power supplies. In addi­tion, the acqui­si­tion will deepen exis­ting exper­tise in distri­bu­tion and control cabi­net cons­truc­tion as well as auto­ma­tion tech­no­logy. Follo­wing the take­over, the E.GRUPPE will unite 365 employees at 10 loca­ti­ons and thus achieve signi­fi­cant coverage in central and southern Germany. The aim is to offer custo­mers a broad range of services and products with exten­sive exper­tise in custo­mi­zed elec­tro­tech­ni­cal systems in energy and auto­ma­tion technology. 

The manage­ment team of the LET Group comm­ents on the growth poten­tial within the E.GRUPPE: “The merger with the E.GRUPPE is an important step for us to further drive our growth and to be able to offer our custo­mers even more compre­hen­sive elec­tri­cal engi­nee­ring. LET stands for tech­no­lo­gi­cal excel­lence and uncom­pro­mi­sing relia­bi­lity in complex, syste­mic solu­ti­ons for our deman­ding custo­mers. As part of a strong group, we gain addi­tio­nal oppor­tu­ni­ties to expand our regio­nal presence, further deve­lop our services and tap into new poten­tial. At the same time, we are crea­ting a stable, future-orien­­ted envi­ron­ment with long-term pros­pects for our employees.”

Maja Marko­vic, Part­ner at Gimv’s Sustainable Cities Plat­form in the DACH region (photo © Gimv), adds: “With the acqui­si­tion of the LET Group, we as E.GRUPPE are crea­ting a leading provi­der of custo­­mer-speci­­fic elec­tri­cal engi­nee­ring in the growing and attrac­tive market with incre­asing requi­re­ments due to elec­tri­fi­ca­tion, digi­ta­liza­tion and the expan­sion of rene­wa­ble ener­gies. Toge­ther with the manage­ment and employees, we are conti­nuing the E.GRUPPE’s growth trajec­tory in order to bundle exper­tise and offer a compre­hen­sive, future-orien­­ted port­fo­lio of solu­ti­ons along the elec­tri­cal engi­nee­ring value chain.”

The tran­sac­tion is subject to custo­mary condi­ti­ons, inclu­ding appr­oval by the compe­ti­tion autho­ri­ties. Further finan­cial details are not disclosed.

About Gimv

Gimv is a Euro­pean invest­ment company with over 45 years of expe­ri­ence in private equity, listed on Euron­ext Brussels and a member of the Euron­ext BEL ESG Index. Gimv curr­ently has a port­fo­lio of more than EUR 1.6 billion, consis­ting of around 61 port­fo­lio compa­nies with a total turno­ver of EUR 4.5 billion and more than 20,000 employees. 

Gimv iden­ti­fies inno­va­tive, leading compa­nies with high growth poten­tial and supports them sustain­ably on their way to market leader­ship. Each of the five invest­ment plat­forms Consu­mer, Health­care, Life Scien­ces, Smart Indus­tries and Sustainable Cities is mana­ged by a dedi­ca­ted and compe­tent team based in Gimv’s home markets — Bene­lux, France and DACH — and supported by an exten­sive inter­na­tio­nal network of experts. www.gimv.com

About E.GRUPPE

The E.GRUPPE aims to bundle tech­ni­cal exper­tise, exploit growth poten­tial in a targe­ted manner and offer custo­mers compre­hen­sive, future-orien­­ted elec­tri­cal engi­nee­ring from a single source. Through orga­nic growth and the inte­gra­tion of specia­li­zed and regio­nally estab­lished compa­nies, a leading group of compa­nies has emer­ged in the highly frag­men­ted elec­tri­cal engi­nee­ring sector. The E.GRUPPE offers its compa­nies and employees long-term growth and deve­lo­p­ment pros­pects — and crea­tes the basis for sustainable joint success. You can find more infor­ma­tion about E.GRUPPE at www.egruppe.com/

About LET Group

The LET Group, head­quar­te­red in Ulm, is a provi­der of compre­hen­sive elec­tri­cal engi­nee­ring solu­ti­ons for indus­trial and energy custo­mers. The company specia­li­zes in switch cabi­net and distri­bu­tion board cons­truc­tion as well as solu­ti­ons for unin­ter­rup­ti­ble power supplies and impres­ses with its tech­ni­cal exper­tise and highly available system compon­ents deve­lo­ped in-house. The LET Group compri­ses the four compa­nies LET Lüdde­cke, LET Services, ESV Erfur­ter Schalt­schrank­bau and IMB Energy Systems, which are repre­sen­ted at a total of seven loca­ti­ons with around 200 employees. The group supports its custo­mers along the entire process chain — from plan­ning, produc­tion and commis­sio­ning through to service and main­ten­ance — and thus offers relia­ble, custo­­mer-speci­­fic solu­ti­ons from a single source. Further infor­ma­tion about the LET Group can be found at www.let-gruppe.de/