Press release from 09 February 2024
GETEC is pleased to announce the sale of the VKK Group to the BABCOCK WANSON Group. The regulatory approvals have now been obtained. The transaction was finalised in February 2024.
The VKK Group, which includes VKK Standardkessel Köthen GmbH, VKK Standardkessel Service Köthen GmbH, VKK Standardkessel Verwaltung Köthen GmbH, Dampferzeuger-Rohrleitungsbau GmbH and PCE GmbH, was acquired by the GETEC Group together with VELDE Boilers and Plants GmbH in 2018. With the financial and operational support as well as the network and backing of GETEC, the experienced boiler manufacturer with sites in Köthen and Mülheim an der Ruhr has been reorganised, restructured and well positioned over the past five years to continue its rapid development in the future.
"With the takeover by BABCOCK WANSON, the VKK Group is gaining a strong and respected European specialist to continue its growth trajectory. The VKK Group can look forward to the next stage of its development with optimism and confidence," says Volker Schulz, Chairman of the Board of Directors of the VKK Group. BABCOCK WANSON is pleased to lay the foundations for its expansion in Germany with the production site in Köthen (Saxony-Anhalt) and the service centre in Mülheim an der Ruhr (North Rhine-Westphalia).
"We are delighted to welcome the VKK Group to our growth journey," says Cyril Fournier-Montgieux, Chairman of the BABCOCK WANSON Group. "VKK's excellent reputation and expertise in industrial boilers make the company the perfect starting point for our entry into Germany, so that we can continue to support our industrial customers in their energy transition and decarbonisation."
With the support of its main shareholder Kartesia, the BABCOCK WANSON Group continues to focus on expansion and aims to consolidate its position as the European market leader for decarbonisation solutions for industrial processes.
About BABCOCK WANSON
BABCOCK WANSON is a major international supplier of industrial process heating equipment and solutions with a tradition dating back over 100 years. With operating companies in ten European countries, including five production sites, and a global network of commercial and technical partners, the Group offers its customers customised solutions to reduce energy consumption and environmental impact.
About GETEC
GETEC Energie Holding GmbH is a group of energy service companies and, together with its investments and activities in the property sector throughout Germany and Europe, forms the GETEC GROUP. The expertise and capabilities of the various companies range from the construction and operation of area networks and energy trading to the development and expansion of renewable energy solutions. The GETEC Group employs around 1,500 people and has a turnover of 4.9 billion euros.
