We publish press releases about the Possehl Group whenever there is an event worthy of attention. Further press releases can be found on the websites of our subsidiaries.
Current Press Releases
April 21, 2011
Possehl Group Enlarges Special-purpose Construction Division Through Acquisition
Lübeck, Germany, April 21, 2011 – The Lübeck company L. Possehl & Co. mbH is to acquire all shares in Mickan General-Bau-Gesellschaft Amberg mbH & Co. KG. Possehl and Mickan shareholders agreed on the deal last week. The acquisition is now pending approval by the German Federal Cartel Office.
With annual construction sales of € 120 million, Mickan General-Bau-Gesellschaft Amberg mbH & Co. KG is a leading regional general contracting firm in Bavaria. The company offers the entire range of construction services including both above and below-ground construction as well as turnkey projects to both public and private customers, relying on its workforce of approximately 270 personnel in addition to a host of subcontractors.
Forty years ago Dietrich Mickan took over the company from his parents and has been steadily expanding its offering ever since. “I am pleased to have found a reliable long-term shareholder for my company, despite the bittersweet aspect of putting my business in another’s hands after such a long time. I am convinced, however, that Possehl is the right shareholder for ensuring the business remains successful and secures our staff members’ jobs throughout the future,” says Mr. Mickan, who will be retaining an advisory role for the company.
This acquisition is the next step in the Possehl Group’s long-term growth trajectory, underscoring emphatically Possehl’s great attractiveness as a partner to midmarket enterprises, particularly as a shareholder in succession situations. “Mickan and Possehl are an excellent fit, as both companies are managed according to the same entrepreneurial principles. Going forward, Mickan will enjoy great autonomy within the Possehl Group, preserving its business strengths. The company will thus remain independent within our Special-purpose Construction division,” says Uwe Lüders, Executive Board Chairman of L. Possehl & Co. mbH. With Mickan and its workforce of roughly 1,300, Possehl’s Special-purpose Construction division will be generating annual sales of around € 250 million. Coming after the acquisitions of Deutsche Flächentechnik and the Bennert and Euroquarz Groups, this deal makes the division Possehl’s fastest growing in recent years.
Managed by the holding company L. Possehl & Co. mbH, the Possehl Group is a diversified group with nine independently operating divisions organized within a decentralized structure. The Possehl Group is comprised of L. Possehl & Co. mbH and 140 subsidiaries in more than 30 different countries. The Group posted sales of roughly € 1.72 billion for fiscal year 2010 and earnings before taxes of € 81.5 million. The Company now has some 8,700 employees worldwide, at least half of whom are based in Germany. More information about Possehl can be found at http://www.possehl.de.
Head of Corporate Communications
L. Possehl & Co. mbH
23552 Lübeck, Germany
Phone: +49 (0) 451 148-223