Accompanied by Zerbach & Company Corporate Finance GmbH, the shareholder of Thiendorfer Fräsdienst GmbH & Co. KG, which specialises in road rehabilitation and repair, and its sister company P+S Pflaster- und Straßenbau GmbH successfully arranged a succession solution by bringing on board the Lübeck-based Possehl Group, securing the companies' continued existence over the long term.
The companies, led by co-founder and sole shareholder Ulrike Usinger, are based near Dresden and operate primarily in Saxony, Saxony-Anhalt and Brandenburg. Together, some 90 employees generate annual revenue of more than EUR 20 million. The companies' range of services encompasses the milling of road surfaces, the application of thin layers as well as the complete rehabilitation of road surfaces and their repair. The two new companies thus form an ideal complement to Possehl Spezialbau.
Led by the management holding company L. Possehl & Co. mbH, the globally active Possehl Group is a diversified group currently comprising eight economically independent, decentrally organised business divisions. The Possehl Group consists of L. Possehl & Co. mbH and 150 subsidiaries in more than 30 countries. In the 2014 financial year, the group generated revenue of around EUR 3.3 billion. Possehl currently employs more than 12,000 people worldwide. The company was founded in 1847 by Ludwig Possehl as a trading business for hardware in Lübeck. Since 1919, the non-profit Possehl Foundation has been its sole shareholder. This corporate structure enables the independence of the Possehl Group and forms the foundation for long-term entrepreneurial decisions.
Ulrike Usinger, who founded the business together with a partner in 1991 and continued and steadily expanded it on her own over the past seven years, sees Possehl as the right successor: "It is very important to me that the companies I have built up will still exist many years from now and that all employees enjoy good prospects for the future."
Marc Bollinger, Partner at Zerbach & Company, adds: "With the completion of this transaction, a sustainable solution was found for the companies and their employees. The continuity in the management of the companies, combined with long-term-oriented new shareholders, offers the companies excellent prospects."