Lübeck-based Possehl Group ends 2019 financial year by expanding its portfolio even further
Subsidiary Possehl Spezialbau takes over Jacbo Pfahlgründungen
Lübeck, 14 January 2020 – Possehl Spezialbau GmbH, Sprendlingen, acquired all of the shares in Jacbo Pfahlgründungen GmbH at the end of the past financial year 2019. Approval by the German Federal Cartel Office has already been granted. Hence, Possehl Spezialbau has completed yet another successful company acquisition within a short period of time.
Together with its two Dutch subsidiaries EFG Services B.V. and EFG Equipment B.V., Jacbo Pfahlgründungen GmbH holds a leading position in the German market for specialist civil engineering. Jacbo’s particular know-how lies in a time-saving partial- displacement technology which allows vibration-free working, requires no soil excavation and improves the subsoil at the same time. Headquartered in Schüttorf/ Lower Saxony near the Dutch border, the company is represented throughout Germany by five branch offices. Over the past years, Jacbo has continuously extended its market position and most recently achieved annual sales of some 32 million euros. Jacbo’s two Managing Directors Arij Lambo and Paul Bouten will continue to run the business autonomously within the Possehl Spezialbau Group in the future. “Jacbo will be constituting a significant company in the building construction & specialist civil engineering sector within our Special Purpose Construction division in the future, contributing to specifically expanding our product portfolio”, explains Mario Schreiber, Member of Possehl’s Executive Board and responsible for the Special Purpose Construction division.
The construction business forms one of the Possehl Group’s nine independently operating divisions. Acquiring German SME companies contributed to the fact that the Special Purpose Construction division has grown continuously over recent years; on average, one acquisition was successfully completed every year in the past five years. In 2019, according to preliminary figures, the division achieved annual sales of almost 390 million euros and employed more than 1,600 people.
“Possehl pursues a growth-oriented business strategy, with growth achieved through both the continuous further development of our existing corporate portfolio and new acquisitions”, outlines Dr Joachim Brenk, Chairman of the Board. “We are always on the lookout for successful, well-positioned enterprises that fit in with us. Fortunately, with Jacbo, we were able to win over just that kind of company”, adds Brenk.
The Possehl Group, operating worldwide under the leadership of Management-Holding L. Possehl & Co. mbH, is a diversified corporate group currently comprising nine decentrally organised divisions that are economically independent of each other. In addition to L. Possehl & Co. mbH, the Possehl Group comprises 200 subsidiaries in more than 30 countries. In the financial year 2019, the Group generated preliminary revenues of 4.1 billion euros. Possehl currently employs more than 13,000 people worldwide.
The company was founded in 1847 by Ludwig Possehl as a local hardware store in Lübeck. Since 1919, the non-profit Possehl Foundation has been the sole shareholder. This corporate structure enables the Possehl Group to operate independently and provides the basis for long-term entrepreneurial decisions.
For further information about Possehl please visit http://www.possehl.de.
Head of Corporate Communications
L. Possehl & Co. mbH
Phone: +49(0)451 148-223