Portfolio

Ernst Pertler GmbH

Plumbing

Anyone looking for a professional company specializing in plumbing, heating, and air conditioning (SHK) in Munich cannot overlook the name Pertler. Stefan Pertler, the founder’s son, grew from an apprentice and employee in the family business to a skilled trades entrepreneur who, by 2017, was already employing 86 people.

  • IndustryPlumbing
  • CountryGermany
  • Transaction TypeOwners Buy-Out / Buy & Build
  • Investment2017
  • Employees111
  • Revenue30 Mio. EUR

Challenges

Many craft businesses are successful for decades but eventually close due to a lack of successors. Stefan Pertler faced this prospect in 2016. Instead of selling his company to a strategic investor and moving on, he chose to partner with an active shareholder and build a future with Family Trust.

The succession issue was far from resolved, but addressing it and taking the right steps was no longer solely Stefan Pertler’s responsibility. It became the central operational challenge for Family Trust as the majority shareholder.

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About: Pertler

Investment approach

In order to lead the company into the future and find a suitable successor for Stefan Pertler, we implemented a dual strategy. On the one hand, we recruited skilled employees with the potential to become managing directors. We supported them in the background to develop their potential. On the other hand, we relied on “home-grown talent”. In other words, long-term employees who had the necessary talent and skills for the role of managing director.

It was clear that this approach would make a quick entrepreneurial succession unlikely. Nevertheless, we went down this route and have benefited from it in the long term. The systematic identification and promotion of “home-grown talent” with potential has enabled us to make further acquisitions of craft businesses in succession situations and build up a growing group of companies.

Development since acquisition

The 86 employees in 2017 have now grown to more than 111 employees in eight operating subsidiaries and a holding company, and annual turnover has increased by 300%: from EUR 10 million to EUR 30 million. As a result, the Pertler Group has become one of Munich’s HVAC market leaders and a fast-growing platform for trade succession in the region.

At the same time, the original two Pertler companies have become four. This reorganization has enabled us to create smaller and more powerful units, while at the same time strengthening the family character of all companies. This should also be maintained in the future. We have created the conditions for this.

Contact Person

Florian Schepp Partner Contact
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