STRABAG has reached a purchase agreement with Stumpp Group, a construction company located in Balingen, south-western Germany.
This development will see Stumpp Group become a part of Strabag.
The move aims to bolster STRABAG’s footprint between the Black Forest and Lake Constance and enhance its capabilities to undertake infrastructure projects in an expanding market.
Stumpp recently reported an annual turnover of approximately €90m ($105.74m) and employs close to 300 people.
The agreement between the companies is pending regulatory approval.
Stumpp Group managing partner and majority shareholder Arne Stumpp said: “Joining forces with the STRABAG Group not only secures all our employees’ jobs but also creates a strong basis for the continued growth of our company, which has been firmly established and recognised in the market for decades.”
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By GlobalDataWith expertise in road construction and civil engineering, Stumpp provides services that include earthworks and the construction of sewers and pipelines.
The company also manages asphalt mixing plants and holds stakes in gravel operations.
By integrating Stumpp, STRABAG seeks to ensure a sustained supply of crucial raw materials necessary for upcoming infrastructure endeavours within the region.
Strabag management board member, responsible for the North + West segment, Jörg Rösler said: “We are pleased to welcome a well-established family business with an experienced workforce to our group. This partnership is an important step towards further strengthening our infrastructure expertise both regionally and nationally.”
In fiscal year 2024, Strabag saw its order intake for the transportation infrastructure construction segment increase 38.7%.
