STRABAG expands service portfolio in technical facility management with acquisition of parts of VAMED
Acquisition of technical operations management and construction projects divisions of Vienna General Hospital (AKH Wien), Austrian project development business and spa holdings
Purchase agreement signed by joint STRABAG SE and PORR AG holding company, total purchase price around € 90 million
Finalisation of transaction on part of STRABAG SE subject to approval by Supervisory Board
Vienna, 7 May 2024 STRABAG SE, the publicly listed European technology group for construction services, was faced with largely declining markets in 2023. Thanks to its ability to cover the entire construction value chain and due to its broad geographical presence, however, STRABAG can look back on a strong performance in 2023.
STRABAG has signed a purchase agreement together with PORR for parts of the VAMED Group, specifically for the technical operations management and construction projects divisions of Vienna General Hospital (AKH Wien) as well as VAMED’s Austrian project development business and its Austrian spa holdings, for a total purchase price of € 90 million. The acquisition expands STRABAG’s service portfolio in technical facility management to include the highly demanding medical sector while enhancing its expertise in project development in the healthcare sector. The agreement remains subject to approval by the Supervisory Board of STRABAG SE.
The acquisition comprises the following parts of the VAMED Group:
technical operations management and construction projects divisions of Vienna General Hospital (as part of VAMED subsidiaries VKMB and VKP)
VAMED’s Austrian project development business (as part of VSG and its subsidiaries)
Austrian spa holdings.
The seller of these holdings is VAMED AG, which is majority-owned by Fresenius SE & Co. KGaA of Germany. The package does not include the project development business outside of Austria, the hospital services business or VAMED’s post-acute business, in particular the rehabilitation business, which was recently sold to PAI Partners.
The acquisition is to be realised via a joint holding company, with PORR AG and STRABAG SE holding a 50% stake each. The transaction is also subject to approval by the relevant competition authorities.
“This acquisition allows us to pursue two key topics of our Strategy 2030: further increasing our depth of value creation in this segment and expanding our expertise in technical facility management, specifically in the demanding medical sector,” says Klemens Haselsteiner, explaining the planned acquisition. The provision of mechanical and electrical engineering plays an increasingly important role in construction projects. A solution from a single source – spanning the design, build and operate phases – is an attractive option for clients that provides greater planning and budget certainty.
STRABAG strengthens market position in technical operations management
The STRABAG Group already offers extensive and integrated real estate services through its subsidiary STRABAG Property and Facility Services, a leader in digital and technical expertise in every phase of the property lifecycle – from offices to industrial and production sites, from logistics centres to technical buildings and data centres. The service portfolio includes technical and infrastructure facility management, property management, building technology and specialised industrial services. Technical facility management in particular involves keeping critical infrastructure running with a high level of expertise.
STRABAG SE is a European-based technology partner for construction services, a leader in innovation and financial strength. Our services span all areas of the construction industry and cover the entire construction value chain. We create added value for our clients by taking an end-to-end view of construction over the entire life cycle – from planning and design to construction, operation and facility management through to edevelopment or demolition. In all of our work, we accept responsibility for people and the environment: We are shaping the future of construction and are making significant investments in our portfolio of more than 250 innovation and 400 sustainability projects. Through the hard work and dedication of our approximately 86,000 employees, we generate an annual output volume of around € 19 billion.
Our dense network of subsidiaries in various European countries and on other continents extends our area of operation far beyond the borders of Austria and Germany. Working together with strong partners, we are pursuing a clear goal: to design, build and operate construction projects in a way that protects the climate and conserves resources. More information is available at www.strabag.com
