- Possehl Spezialbau GmbH acquires the medium-sized general contractor Jöst Bauunternehmen GmbH
- Turnkey construction as a new business segment
- Expansion and diversification of the Special Purpose Construction division within the Possehl Group
Lübeck, 28 August 2018 – The Lübeck-based Possehl Group expands its Special Purpose Construction division by acquiring yet another company. Possehl Spezialbau GmbH, based in Sprendlingen, purchases a 100% interest in the Frankfurt-based medium-sized enterprise Jöst Bauunternehmen GmbH. With this acquisition, Possehl’s Special Purpose Construction division continues its successfull growth course of the past years also in the current financial year. The transaction is still subject to merger clearance by the cartel authorities.
Jöst, operating primarily as a general contractor in the Rhine-Main region, is run as a family business in the third generation. The company’s product portfolio comprises both turnkey and shell construction as well as all-out construction planning and the revitalisation of industrial and residential buildings. Jöst Bauunternehmen GmbH most recently achieved annual sales of 26 million euros with around 30 employees.
The two sole shareholders Julia Beiderlinden and Dieter Stahnke, who will gradually relinquish their operational responsibilities, are going to part with the business with heavy hearts: “On the one hand, it is very hard for me to hand over the reigns of the company my grandfather founded all these years ago. Then again, I am firmly convinced that I have found a trustworthy and competent long-term successor in Possehl“, says Julia Beiderlinden. Dieter Stahnke adds: “We got to know Possehl as a very reliable business partner. When Possehl asked me if I wanted to continue Jöst’s ongoing business activities for a transitional period I immediately agreed, not least because I passionately care about our employees and our company’s future development.“
Possehl’s Special Purpose Construction division currently comprises the four business segments Surface Treatment, Construction & Civil Engineering, Building Restoration and Construction Chemicals. In 2017, the division achieved annual sales of some 400 million euros and currently employs more than 1,600 people. Over the past years, the division saw, on average, double-digit annual growth rates.
For Possehl Spezialbau, however, acquiring Jöst means far more than merely continuing their successful long-term growth strategy. “Jöst Bauunternehmen GmbH’s business model, which comprises offering the entire range of construction services from initial project planning to handing over the keys, all from a single source, enables us to tap into a new, attractive business segment in which we have previously not been active. We are convinced that our Special Purpose Construction division will benefit in the long term from both Jöst’s outstanding expertise and many years of experience in this line of business”, says Mario Schreiber, Member of Possehl’s Executive Board.
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 170 subsidiaries in more than 30 different countries. In the financial year 2017, the Group generated revenues of some 3.8 billion euros. Possehl currently employs around 12,500 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.