Coatings Industry News

Main News Page

Access Companies Strike $251M Deal

Monday, March 30, 2015

Comment | More

A multinational deal now underway will create an industrial access, insulation and corrosion-protection giant with the reach of 17,000 employees across Europe and the Middle East.

The Altrad Group, a French scaffolding concern, plans to buy the majority of the UK's Hertel in a transaction valued at €230 million ($251 million USD).

The acquisition includes most of Hertel's businesses, including access solutions, insulation and corrosion protection, in a deal expected to close in the second quarter of 2015.

The companies said that their offerings are "highly complementary" and that the acquisition will increase their  European presence.


Scaffolding company Altrad will acquire the access solutions, insulation and corrosion protection businesses of Hertel for €230 million ($251 million USD).

Altrad, headquartered in Montpellier, France, offers scaffolding solutions for the civil and industrial markets. It has operations in 16 countries throughout Europe, Africa, Asia and the U.S.

Middlesbrough, England-based Hertel is an industrial services company that operates in 16 countries throughout Europe, the Middle East, Caspian and Asia Pacific.

The transaction is subject to approval by competition authorities and the completion of a consultation process with Hertel's works council.

Long-Term Growth

The combined business will have 17,000 employees and a joint annual turnover exceeding €1.6 billion ($1.75 billion USD). 

"We consider Hertel a promising and exciting company with an attractive long-term growth potential, solid management and corporate values similar to Altrad," said Mohed Altrad, president of Altrad Group.

"Combining management teams with different sets of experience will enable us to actively exchange ideas and best practices, thereby making the combination a benchmark in its industries," said Altrad.

Altrad Group

"We consider Hertel a promising and exciting company with an attractive long-term growth potential, solid management and corporate values similar to Altrad," said Altrad Group president Mohed Altrad.

Added Victor Aquina, CEO of Hertel: "We are excited about this new step in the rich history of Hertel. Altrad will be an excellent partner, enabling Hertel to realize its ambitions in accordance with our long-term growth strategy.

"I am convinced this transaction is in the best interest of Hertel, for our customers, our employees and our shareholders."

Offshore Not Included

Hertel Offshore, which designs, constructs and delivers living quarters and accommodation modules, will not be included in the deal. It will continue under the ownership of NPM Capital and Sofinim, the development capital affiliate of Ackermans & van Haaren and majority shareholders of Hertel since 1998.

Hertel's senior management will stay involved with the offshore operations, but the business will change its name.


Tagged categories: Access; Acquisitions; Business operations; Corrosion protection; EMEA (Europe, Middle East and Africa); Finance; Scaffolding

Comment Join the Conversation:

Sign in to our community to add your comments.

SAFE Systems, Inc.

Sauereisen, Inc.

Strategic Materials Inc.

Abrasives Inc.


Technology Publishing Co., 1501 Reedsdale Street, Suite 2008, Pittsburgh, PA 15233

TEL 1-412-431-8300  • FAX  1-412-431-5428  •  EMAIL

The Technology Publishing Network

PaintSquare the Journal of Protective Coatings & Linings Paint BidTracker

EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
MORE:      About   |   Privacy Policy   |   Terms & Conditions   |   Support   |   Site Map   |   Search   |   Contact Us