The Westfalen Group from Münster is substantially expanding its product portfolio by investing in NGC.tec, an experienced heating and building technology specialist in the field of sustainable energy. Thereby Westfalen ensures the ongoing support of the existing customer base with future-oriented, non-fossil heating solutions.
“The future in heat lies not only in Germany in solutions based on electricity. We are therefore very pleased to have found the right fit for our repositioning in the heating sector with NGC.tec out of Gladbeck. Together we are now able to offer to our customers, including the industrial sector, holistic solutions for an optimal energy supply.” explains the CEO of the Westfalen Group, Dr. Thomas Perkmann.
The previous sole owner of NGC.tec GmbH, Erdal Cetin, comments:” With Westfalen Group we have found a strong partner, who has multiple and diverse customer contacts and the necessary resources to accelerate our growth. The common vision of how we approach the market is very convincing. Together we can actively shape the energy transition in the heating sector.”
HSCie was comprehensively involved in the transaction process. HSCie identified NGC.tec as a potential partner, initiated the transaction and assisted in the structuring and negotiation.
Dirk Bücker, responsible project manager at Westfalen comments:” We thank HSCie for the support throughout the entire process. The positive approach coupled with great experience was an enrichment.”
Joachim Schlösser, partner in charge at HSCie adds:” We are very pleased to have contributed to the revolution of heating (Wärmewende) by this transaction. Westfalen´s strategic stake in NGC.tec is an ideal succession solution paired with the foundation for regional expansion.”
The parties have agreed not to disclose the terms.
About Westfalen Group
The Westfalen Group is an expert in gases, heating and cooling, and sustainable mobility. Founded in 1923, the family-owned company has provided the safe use of gaseous and liquid hazardous substances for customers for the past 100 years. Westfalen products and services support customers on their way to sustainable progress. The company has more than 20 production sites, numerous subsidiaries and associated companies in Europe. It is headquartered in Münster.
Westfalen achieved in 2022, a turnover of ca. 2.3 billion euros with approximately 2,000 employees. Further information at westfalen.com.
About NGC.tec GmbH, Gladbeck
NGC.tec GmbH was created by the merger of NGC.tec GmbH, powertox GmbH and netox GmbH. NGC.tec is a leading company in the conversion of L to H gas. Powertox focuses on the installation of energy solutions for private households as well as smaller units up to 1500 sqm space and has mainly realized solution concepts with heat pumps and solar solutions. Netox implements larger, complex projects, mainly in the industrial sector, whose core is always the solution of a heating and/or cooling problem. The group of companies can draw on more than 20 years of expertise. It realized a turnover of more than 20m€ with more than 130 employees in 2022. Further information at ngc.westfalen.com.
HSCie GmbH – Hübner Schlösser & Cie, located in Munich, Germany, is an internationally active, independent M&A advisory firm, specialized in acquisitions and divestitures of medium-sized and large companies worldwide. Since inception, the firm has advised on more than 150 transactions with a total transaction value of over EUR 17 billion. HSCie is one of the leading advisory firms for medium sized transactions in Germany. Further information at www.hscie.com.
For further information please contact:
Hübner Schlösser & Cie
T: +49 (89) 998 997-0