EIFFAGE takes majority stake in HAND & WERK
Context
Eiffage, through its subsidiary Eiffage Énergie Systèmes, has entered into a definitive agreement to acquire Hand & Werk, marking a highly strategic inorganic growth transaction engineered to accelerate its footprint across the German data center market. This transaction significantly strengthens the group's positioning within a high-visibility, high-growth segment, which has been established as a core strategic development pillar for the division. The core investment thesis behind this business combination centers on leveraging Hand & Werk's technical expertise and proven track record in the engineering and deployment of mission-critical projects. Subject to customary closing conditions and regulatory approval from the German competition authorities, the transaction is expected to close during the 2026 fiscal year.
HAND & WERK, which reported an EBITDA margin of in 2025, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the Business Services sector (11.4x).
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Target
Hand & Werk is a leading player in the German data centre market, specializing in turnkey solutions for data centres. The company provides a range of services, from the design and installation of building technical systems to equipment maintenance. With a workforce of 200, Hand & Werk has delivered 26 projects, building up its reputation as a trusted partner in the industry. The company operates under the DC Blue brand and has established a strong presence in the German market since its founding in 2019. Hand & Werk's expertise and experience in data centre projects have enabled it to expand its services to meet the growing demand for digital infrastructure. The company's commitment to operational continuity and customer satisfaction has earned it a loyal customer base and a reputation for reliability and quality.
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REFERENCES
Revenue range: 50M - 100M EUR
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Press release: view release
Target: hand & werk
Acquirer: eiffage