HERMANNS AG becomes part of the family-run DEPENBROCK Group
WALTER FRIES Corporate Finance GmbH exclusively advised the Fenge/Haar family, owners of HERMANNS AG, on the sale of all shares in the company to the DEPENBROCK Group as part of a structured succession solution. The transaction was signed at the beginning of January and is still subject to antitrust approval, which is expected to be granted.
Hermanns AG is setting its course for the future: the transfer of the long-established HERMANNS AG (Kassel) to the DEPENBROCK Group (Stemwede) marks the end of more than 75 years of family ownership by the Fenge/Haar family. HERMANNS AG employs around 360 people and has branches in Kassel and Erfurt. The aim of the transaction was to establish a long-term, sustainable succession plan that would preserve the medium-sized, family-oriented corporate culture and secure jobs, locations and the established company name. All jobs and locations of HERMANNS AG and the brands will be retained.
Dr Anne Fenge explains: ‘With a view to the long-term future of our family business, we examined various options. It was crucial for us to find a solution that would preserve our corporate culture while opening up new perspectives. We believe that the merger with the DEPENBROCK Group fulfils these requirements.’
The DEPENBROCK Group, also a family-run construction company in its third and fourth generation, is strategically expanding its expertise with this acquisition. The DEPENBROCK Group employs around 1,400 people and has 24 locations in Germany, Poland and Denmark. The service portfolios and regional focuses of the two companies in civil engineering, structural engineering and turnkey construction complement each other to a high degree and create a solid basis for further joint growth. In addition, the acquisition marks another geographical milestone for the DEPENBROCK Group and strengthens its market presence in Hesse and Thuringia.
Karl-Heinrich Depenbrock, senior director of the DEPENBROCK Group, emphasises the strategic logic behind the merger: ‘Both companies have impressive expertise and a strong track record in project management. By merging two strong medium-sized companies, we are laying the foundation for becoming even more efficient together.’
The succession solution combines entrepreneurial continuity with strategic development and opens up long-term prospects for HERMANNS AG within a high-performing, family-run group of companies. Mr and Mrs Fenge/Haar will remain in management positions at HERMANNS AG for the time being, even after the merger has been completed.
The transaction is subject to antitrust approval. Approval and completion of the transaction are expected in February 2026.
The sellers received legal support from the Würzburg-based law firm Cornea Franz Rechtsanwälte.
About HERMANNS AG
HERMANNS AG, headquartered in Kassel, is a family-run construction company with around 360 employees that has been in business for more than 75 years. Operating nationwide for private and public clients, the company and its subsidiaries HTI-Bau, RTE-Bau, HMS-Bau and ROTUS cover a wide range of services in building construction, civil engineering and structural engineering. Its main areas of focus include infrastructure construction, landfill construction, pipeline and utility construction, and the turnkey construction of sophisticated building projects. The portfolio is complemented by services in the energy and utilities sector, the renovation and conversion of existing properties, and its own property management department.
About DEPENBROCK Group
The DEPENBROCK Group, headquartered in Stemwede, is a family-run construction company founded in 1928 with around 1,400 employees at 24 locations in Germany, Denmark and Poland. In the 2024 financial year, the group achieved an operating performance of around €720 million. Its service portfolio includes turnkey and industrial construction, civil engineering, sewer and road construction, engineering, port and hydraulic engineering, project development, building renovation, facility management and public-private partnerships. The DEPENBROCK Group covers the entire value chain from planning and construction to financing and management.
About WALTER FRIES Corporate Finance GmbH
WALTER FRIES Corporate Finance (WFCF), based in Aschaffenburg, is an M&A boutique that has been successfully established for more than 25 years. WFCF specializes in advising on and executing complex corporate transactions, particularly succession solutions, management buyouts (MBOs), and management buy-ins (MBIs). With a dynamic team of experienced experts, WFCF provides clients with tailor-made advisory services of the highest standard. Its expertise spans a wide range of industries, always with a focus on identifying the ideal partner for each transaction and implementing sustainable solutions. Thanks to its excellent network of strategic investors, family offices, and financial investors, WALTER FRIES connects clients with the most relevant market players. Numerous successful reference projects underscore the high quality of its advisory services and its deep understanding of the specific requirements of mid-sized companies.
