Sweden’s Green Landscaping Group has acquired 100% of the shares of Hartmann Ingenieure, a Germany-based company specialising in ground maintenance and landscaping services.
The acquisition, which grants immediate access to the shares, is financed through cash and a non-cash issue of shares in Green Landscaping.
Green Landscaping Germany regional manager Stephan Stieglauer said: “The acquisition of Hartmann Ingenieure further strengthens our presence in the German market.
“Hartmann Ingenieure has a strong competitive advantage in its central location in Berlin and market-leading know-how in delivering high-quality outdoor maintenance and landscaping services in historical and culturally important sites.”
Founded in 1985, Hartmann Ingenieure mainly focuses on restoring cultural sites across Berlin, Germany.
The company also specialises in a recycling process for building materials, called BioSynergy.
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By GlobalDataIt currently employs 55 people and is led by founder and CEO Christoph Hartmann.
With the public sector making up more than 80% of its sales, Hartmann’s strategic focus aligns well with that of Green Landscaping.
In 2022, Hartmann Ingenieure reported net sales of approximately €4.5m ($4.9m) and a profit margin surpassing that of Green Landscaping.
To facilitate this acquisition, the board of Green Landscaping has decided to issue 103,804 shares aimed at the seller of Hartmann.
According to Green Landscaping, this share issue corresponds to a dilution of 0.18% of the share capital and votes in the group, bringing the total number of shares in it to 56,799,575 after the issue.
Consequently, the previous owner of Hartmann has now become a shareholder in Green Landscaping.
Hartmann said: “Green Landscaping, with its decentralised business, feels like a natural home for my company in the future.
“I am proud of my company and after becoming part of the Green Landscaping Group entrepreneurial family, it is my ambition that Hartmann Ingenieure, together with our new sister companies, will drive the landscaping industry in Germany to new heights.”
