OEP cops core operating assets of Germany’s Muehlhan

• One Equity Partner will aim to accelerate Muehlhan’s growth strategy
• OEP will look to grow the renewables, marine and infrastructure businesses through acquisitions
• Muehlhan provides wind services, surface protection, steel services, passive fire protection, scaffolding and insulation work

One Equity Partners (OEP) announced on Monday that it has signed a definitive agreement to acquire the core operating assets of Muehlhan.

Muehlhan is a global provider of surface protection services for the marine, infrastructure and offshore wind energy industries. It is based in Hamburg and specialises in wind services, surface protection, steel services, passive fire protection, scaffolding and insulation work.

“Our strategy is to quickly scale the renewables, marine and infrastructure businesses through acquisitions and become an even better provider to renewables OEMs, marine clients and public infrastructure providers, while benefitting from the strong underlying growth in each of the three end-markets,” said Philipp von Meurers, managing director at OEP. “The underlying end-markets exhibit attractive growth prospects and are backed by global efforts to decarbonise energy, US infrastructure investments and increasing naval defence budgets in light of the recent geopolitical complexities.”

“We believe that OEP will accelerate our growth strategy of providing industrial services to the three core industries: wind energy, marine and infrastructure, extending our geographic reach and broadening our service portfolio,” said Stefan Müller-Arends, CEO of Muehlhan.

OEP is a private equity firm headquartered in New York. OEP was spun out of JP Morgan in 2015. It invests across the healthcare, industrial, technology, and technological services sectors and looks for companies with revenues of $100 million to $800 million. OEP also looks for an EBITDA of $10 million to $70 million.