Haniel Sells Majority of BauWatch to Carlyle, CVC in €1 Billion Deal
Details of the BauWatch Acquisition
(Corrects final paragraph to show quote is from Carlyle's Simon Pex, not Haniel's Drees)
Overview of the Transaction
BERLIN, Sept 17 (Reuters) - Haniel has agreed to sell a majority stake in Dutch security technology provider BauWatch to Carlyle and CVC, the private equity companies said on Thursday.
The deal values the company at around €1 billion ($1.15 billion), according to two sources familiar with the matter.
Ownership Structure Post-Deal
Under the agreement, Carlyle and CVC will each acquire a 45% stake, while Haniel will retain a 10% holding.
About BauWatch
Company Background
Founded 17 years ago in Apeldoorn in the central Netherlands, BauWatch provides video surveillance and alarm systems for construction sites, critical infrastructure and industrial facilities.
Growth Under Haniel
Since Haniel acquired the company in 2021, BauWatch's revenue has increased from €59 million to €153 million.
Strategic Implications for Haniel
Transformation of Haniel
The sale marks another step in Haniel's transformation from an industrial holding company into a diversified investment group.
CEO Statement
Haniel CEO Joachim Drees said the proceeds of the sale, alongside the planned sale of its Ceconomy stake, would strengthen the company's financial position and support its long-term strategy.
Investor Perspectives
Carlyle's View on BauWatch
"We like technology-driven growth stories," Carlyle's Simon Pex told Reuters. "BauWatch is already number one in Germany and the Benelux countries, but there is still plenty of potential in the rest of Europe and beyond."
Additional Information
Exchange Rate
($1 = 0.8714 euros)
Reporting Credits
(Reporting by Alexander Huebner, Writing by Friederike Heine; Editing by Kirsten Donovan)
