ISOPLUS pipes on the production grounds in Hohenburg, Austria.
Image credit: Stefan Sappert, reprinting permitted
Related theme: Transaction and Responsible Investment Services
Period: May – October 2024
Client: Egeria Private Equity Fund (EPEF) V C.V.
TAUW contact:
TAUW was commissioned by Egeria EPEF to conduct a vendor Phase I Environmental Due Diligence (EDD) assessment of its portfolio company, the ISOPLUS Group (ISOPLUS) 1, as part of a strategic divestment process.
ISOPLUS, headquartered in Rosenheim, Germany, is a leading European manufacturer of pre-insulated pipe systems, catering to local and district heating supply for over 35 years. With a workforce of around 1,600 and 10 certified production sites, the group is represented in over 30 countries.
Egeria, a private equity investment firm with over 25 years of experience, focuses on building and growing businesses in the Netherlands, Germany, Austria, Switzerland, and North America. Egeria invests in companies with an enterprise value of up to €500 million that demonstrate growth potential in attractive markets.
*This assessment built upon the Phase I EDD conducted by TAUW in 2021.
In its role as the Vendor EDD provider, TAUW executed a Phase I EDD assessment to identify material environmental issues across seven selected production sites, focusing primarily on soil and groundwater contamination risks, as well as evaluating the business implications of these issues.
The assessment encompassed production facilities in Germany, Austria, Serbia, Romania, the Czech Republic, Finland, and France. A Phase I EDD desktop assessment was performed for these seven ISOPLUS production sites, while the facility in Austria included an on-site visit and interviews with key staff members.
TAUW efficiently coordinated the work through three of its offices across relevant European countries, leveraging support from local auditors within its extensive network.
ISOPLUS was able to use the resulting comprehensive overview of (potential) environmental, soil, and groundwater issues provided by TAUW in the strategic divestment process.
In November 2024, the successful conclusion of this project was highlighted by the announcement that ISOPLUS would be acquired by the Viessmann Generations Group.
The project was executed successfully and to the utmost satisfaction of both the client, Egeria EPEF, and the target company, ISOPLUS.
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