GERMANY: Colas Rail has signed a share purchase agreement to acquire rail infrastructure contractor Hasselmann Group. Colas said this would give it a foothold in the German market as part of its strategy to target countries with stable economies and high potential for investment in rail infrastructure.
The family-owned group comprises Hasselmann GmbH (infrastructure), NTG GmbH (track construction) and LGM Logistik GmbH (operations). The three companies operate undertake work in central Germany, mainly for Deutsche Bahn, with nearly 300 employees and €70m of revenue in 2021.
‘This acquisition illustrates our growth strategy across the G20’, said Colas Rail CEO Hervé Le Joliff when the agreement was signed on August 9. ‘Once the Hasselmann Group has been integrated into the Colas Rail family, we intend to expand throughout Germany.’
The acquisition is expected to close in the fourth quarter of 2022, subject to regulatory approval.
‘Our aim is to increasingly contribute our competence and experience for the further modernisation and development of the German and European rail infrastructure’, said Peter Krauß, Managing Director of Hasselmann GmbH. ‘We are now looking forward to taking on this exciting challenge as part of the Colas Group. We are convinced that this step is the right decision for the future and further successful development of our group of companies.’
