“These acquisitions illustrate our strong commitment to the Swiss market and our determination to be a leading player in each of our key countries,” said Strabag CEO Peter Haselsteiner.
“Through these acquisitions, we will nearly double our output volume in Switzerland and are enhancing our presence in Zurich and Bern, two very important regional markets. In 2011, we expect to generate combined annual revenues in Switzerland of about CHF 800m (€615m) and therewith to become the third-largest construction company in the country. We are determined to continue to expand our market presence from this level in order to operate nationally across all of Switzerland.”
Brunner Erben and Astrada have combined revenues of around € 245m and a combined workforce of around 1,000 employees.
Brunner Erben has a regional focus in Zurich and eastern Switzerland and offices in Zurich, Kreuzlingen and St. Gallen. The previously family-owned company is active on the Swiss market in civil engineering (special foundation engineering and road construction), building construction and transport. It also has smaller investments in construction materials. Annual turnover is €160m.
The Brunner Erben brand name and offices will remain. General contractor Arigon is not part of the transaction and Peter Murbach, the previous sole owner of Brunner Erben, will maintain 100 % ownership of that company.
Astrada’s regional focus is on the cantons of Solothurn and Bern. The company has six offices and is active in ground-level construction, railway and civil engineering, and industrial and residential construction. Its turnover is about €85m. The Astrada brand name will also be retained.
Peter Murbach, the sole owner of Brunner Erben, and Peter Fritschi, the sole owner of Astrada, jointly approached Strabag to discuss the possibility of a synchronous acquisition. “Both of us were confronting a succession issue in connection with our respective companies,” said Mr Murbach. “Securing the best possible future for our employees and their families, for our suppliers and business partners, and for our many loyal clients was our common objective from the beginning.”
Mr Fritschi added: “We are very happy to have found in Strabag a highly qualified and committed new owner for our respective companies. The fact that the leading European company Strabag has decided to become the new owner of Brunner Erben and Astrada is recognition of the quality of the companies, and of the efforts and contributions made by many generations of loyal employees. We would like to express our special recognition and gratitude to them at this time.”
The parties have agreed not to disclose the conditions of the deal.
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