03 Feb Sitech Services announced the sale of its service division to Ebert Hera
Axeco Corporate Finance is pleased to have advised Sitech Services and its shareholders.
Sitech Services, established in 2008, arose out of multinational company DSM and has six international shareholders (AnQore, Arlanxeo, Borealis, DSM, Fibrant and OCI). These shareholders are also clients, a complex structure that was outdated and no longer desirable. It became clear for all parties that a split between the asset division (responsible for activities related to water treatment and the management of the Chemelot infrastructure) and the service division (responsible for technical services provided to customers on the site), would lead to a stronger future for the company and its shareholders. At the end of 2022, all the parties involved signed an agreement on the future of Sitech, including the proposed new owner of the service division, the Ebert HERA Esser Group. The partnership with Ebert HERA will help enhance the company’s operational effectiveness and give rise to new opportunities on and off Chemelot.
Marc Dassen, CEO of Sitech: “Sitech will remain the most important supplier to our clients in the future and we are keen to develop our leading position both on and off the Chemelot site. Independence is the best option for a healthy future while also safeguarding employment. There is an increasing lack of technical personnel in the market and Sitech is a company with a value proposition and potential for growth that is extremely relevant right now.”
“The new owner Ebert HERA, who sees Sitech as a partner, gives us a great position to start from. The knowledge, professionalism and expertise of each party will enhance the other. Furthermore, a strong parent company will make it easier to achieve both the expansion of the services we offer at Chemelot and our ambitions for growth outside of Chemelot”, states Dassen.
Dr Beate Ebert, owner of the Ebert HERA Esser Group, is very enthusiastic about the proposed acquisition of Sitech: “The acquisition of Sitech’s service activities will considerably strengthen our ambition to offer clients multidisciplinary solutions—ranging from engineering to implementation—and helps us to maintain assets more efficiently and drive forward the energy transition. It is also important to us that acquiring Sitech will allow us to add staff and executive positions to our group, located at the geographical centre of our business. In this way, Sitech will provide a framework for facilitating further growth in the Benelux region and Germany. Both businesses complement each other very well and we are pleased to be able to combine our strengths and create a successful future. It is my goal to become the leading service provider in our sector in the Benelux region and Germany.”
About Sitech Services
Sitech Services was set up in 2008 from several DSM departments that provided on-site services. The company is responsible for the maintenance and modernisation of the chemical plants at Chemelot, which is home to around sixty chemical plants and dozens of other businesses. In addition to the modernisation of many factories at Chemelot as part of its service activities, the company also plays a central role in ensuring safety at the industrial park with its industrial fire and security division. Sitech’s asset activities also include ownership of infrastructure at the site relating to tracks and rails, roads, drainage and a large water purification plant.
About Ebert HERA
The Ebert HERA Esser Group was founded in 1949 and is a traditional German family business from Baden-Baden that currently employs the 3rd generation of the family. Ebert HERA is active in Germany and the Benelux region as a leading player in the maintenance of industrial plants. It counts companies such as BASF, BP, Evonik, Shell, Bayer, INEOS and SABIC among its customers. The company also has years of experience at Chemelot.