Bickhardt Bau acquires the Wachenfeld Group as part of a succession plan
WALTER FRIES Corporate Finance GmbH exclusively advised Mr. Jochen Wachenfeld-Teschner, shareholder of the Wachenfeld Group companies, on the sale of all shares in the Wachenfeld Group companies to Bickhardt Bau SE.
With the strategic acquisition of the long-established Wachenfeld Group from Korbach, Bickhardt Bau SE, based in Kirchheim, is expanding and strengthening its presence in the field of road and transport infrastructure construction in the regions of Hesse and Thuringia. The takeover and integration of the Wachenfeld Group represents another milestone for Bickhardt Bau SE in its regional market development. Among other things, the acquisition will realize synergies and set the course for the group’s joint growth in the future.
At the same time, Bickhardt Bau SE, a medium-sized buyer whose corporate culture is very similar to that of the Wachenfeld Group, was found. This means that the locations, the brand, and, in particular, the workforce around the senior management will continue unchanged in structural terms. The continuation of the successful DNA of the Wachenfeld companies is thus assured.
The transaction is subject to antitrust approval. The transaction is expected to be completed in early 2026.
"My collaboration with the Fries team, consisting of Tim Bieder, Armin Ambrosi, and Cloe de Leo, was characterized by a high level of trust at all times. Even when dealing with complex issues and negotiations, I was able to rely on the experience and interpersonal skills of the advisors. The entire M&A process was excellently structured and efficiently executed. From the preparation, due diligence, and purchase agreement negotiations to the notarization of the contracts at the notary's office, I always felt that I was in excellent hands. I can therefore warmly recommend the experts at WALTER FRIES Corporate Finance for a company sale."
Legal support for the seller was provided by the Würzburg-based law firm Cornea Franz, while tax advice was provided by the tax consulting and auditing firm Prof. Dr. Ludewig + Sozien GmbH & Co. KG.
About the Wachenfeld Group
The Wachenfeld Group has been one of Germany’s leading construction companies for over 120 years, with locations in Korbach (Hesse) and Blankenhain (Thuringia). The company specializes in transport infrastructure, civil engineering, earthworks, pipeline construction, and industrial construction. An efficient machine park, constant investment in innovative processes, and continuous training of employees strengthen its position in the German construction industry. With over 5,300 completed projects and around 210 employees, Wachenfeld stands for experience, technical capability, and reliable implementation of demanding construction projects.
About Bickhardt Bau
Founded in 1971 and based in Kirchheim, Hesse, Bickhardt Bau SE employs around 3,500 people and generates annual construction output of approximately EUR 800 million. As a full-service provider in infrastructure construction, the group of companies and its numerous subsidiaries have expertise in civil engineering and road construction, railway and track construction, structural engineering, special civil engineering, sewer and pipeline construction, concrete road construction, mastic asphalt construction, landfill construction, turnkey construction, building renovation, building material recycling, raw material extraction, and renewable energies.
About WALTER FRIES Corporate Finance GmbH
WALTER FRIES Corporate Finance (WFCF), based in Aschaffenburg, is an M&A boutique that has been successfully established on the market for over 25 years. WFCF specializes in supporting and implementing complex corporate transactions, particularly in the areas of succession solutions, management buyouts (MBOs), and buy-ins (MBIs). With a dynamic team of experienced specialists, WFCF offers its clients tailor-made consulting services of the highest standard. Its expertise covers a wide range of industries – always with a focus on identifying the best possible partner for each transaction and implementing a sustainable solution. Thanks to an excellent network of strategic investors, family offices, and financial investors, WALTER FRIES can bring its clients together with relevant market players in a targeted manner. Numerous successful reference projects demonstrate the high quality of its consulting services and its deep understanding of the individual requirements of medium-sized companies.
