Austria: Schoenherr advises Caverion on acquisition of PORREAL Group

By acquiring the PORREAL Group, Caverion Österreich GmbH (Caverion) strengthens its position in the Austrian facility services market. The transaction is expected to close in August 2022.

"We are pleased to have advised Caverion on yet another transaction in Austria. This acquisition will shape the Austrian technical facility services market, and we are proud to have been part of this development," said partner Thomas Kulnigg, who led the Schoenherr team advising Caverion.

Caverion Österreich GmbH is part of the international, listed Caverion Group. It has 11 locations and over 850 employees throughout Austria. Caverion's range of products and services includes complete solutions for building technology and industrial plants with service and operational management. Special competences in the fields of refrigeration technology, building control technology (automation), energy optimisation or tunnel technology complete the range of services.

PORREAL GmbH is a 100 % subsidiary of the listed company PORR AG. PORREAL has been operating in the market for over 10 years. The company has a well-diversified customer base, including blue chip customers in the private sector and major public and private real estate owners. The stand-alone revenues of PORREAL and ALEA amounted to EUR 23m and EUR 12m in 2021, respectively. The PORREAL Group currently employs approximately 380 employees.

The Schoenherr team was led by Thomas Kulnigg (partner) and further consisted of Niklas Kerschbaumer and Clemens Pretscher (associates). They were supported by Christoph Haid (partner) and Lisa Todeschini (attorney at law) in merger control aspects, and for the due diligence by Andreas Lengger (attorney at law), Maximilian Czernin (associate), Birgit Hirsch (attorney at law), Clemens Rainer (counsel), Yvonne Kraudinger (associate), Michael Kern (associate), Nina Zafoschnig (attorney at law), Teresa Waidmann (counsel), Sebastian Müller (associate), Tullia Veronesi (associate) and Valentin Demschik (associate).