Orrick has advised German energy group STEAG on the purchase of the Krantz business segment from Finish Caverion Group. The purchase was carried out through STEAG Energy Services (SES).

By integrating products and services of Krantz, SES is primarily expanding its position in the market segment of nuclear technologies. Furthermore, SES is gaining access to previously undeveloped HVAC market segments while im-proving its international network to countries like Japan and the UK.

STEAG has been active in energy production for 80 years and provides cus-tomers, both nationally and internationally, with integrated solutions in the are-as of energy and heat production, as well as related technical services. With more than 6,000 employees the group generated a revenue of €3.9 billion in 2016. STEAG subsidiary SES focuses on the planning, development of con-struction, operation and optimization of energy production facilities of all types, with more than 2,000 employees globally.

Caverion Group is a Helsinki-listed provider of building services. In 2016, the group generated €2.4 billion in revenue with 16,500 employees across 12 countries.

The transaction remains subject to approval from the competition authorities. Financial details have not been disclosed.

STEAG was advised by an Orrick team lead by M&A and private equity partner Dr. Sven Greulich and M&A and private equity counsel Dr. Nikita Tkatchenko. Both advised STEAG in the past, most recently on the sale of the business segment STEAG Power Minerals to HAWAR Group. The team further included Dr. Stefan Schultes-Schnitzlein (partner, tax, Düsseldorf), Dr. André Zimmermann (partner, employment, Düsseldorf), Dr. Christian Schröder (partner, IP/IT, Düsseldorf), Dr. Till Steinvorth (partner, antitrust, Düsseldorf), Christoph Wenderoth (associate, M&A and private equity, Düsseldorf), Dr. Johannes Josef Rüberg (associate, M&A and private equity, Düsseldorf), Louisa Kallhoff (associate, employment, Düsseldorf), Vanessa Sousa Höhl (associate, M&A and private equity, Düsseldorf).