BAM sells its German arm

By Mike Hayes20 October 2021

Dutch group says move will support growth in core markets in Netherlands, UK and Ireland

The Netherlands' Bam Group

Royal BAM Group has completed the sale of its German operating company BAM Deutschland, to Zech Group and Gustav Zech Foundation.

Financial details of the transaction have not been disclosed by BAM, but the Dutch construction firm says it will use the funds to pursue its plans to expand in what it calls “growth markets”.

It says the divestment of the company and its subsidiaries (with reported annual revenues of approximately €500 million and 750 members of staff) “will support BAM’s capital ratio by shortening of the balance sheet, and will reduce liquidity and the use of bonding”.

Ruud Joosten, Royal Bam Group’s chief executive, said, “This transaction is a major step forward in delivering our Building a Sustainable Tomorrow strategy. Bam is focusing on growth markets where we have scale and competitive advantage.

“In other markets we are managing our subsidiaries for value and potential divestment. With Zech Group and Gustav Zech Foundation as the new shareholder, we have found a trusted partner and paved the way for the successful future of the company and its employees.”

NEWSLETTER
Delivered directly to your inbox, Construction Technology Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
CONNECT WITH THE TEAM
Andy Brown Editor, Construction Technology Tel: +44 (0)1892 786 224 E-mail: andy.brown@khl.com
Eleanor Shefford Sales Manager Tel: +44 (0)1892 786236 E-mail: eleanor.shefford@khl.com
Latest News
Electric crawler crane new from Sennebogen
Sennebogen in Germany announces 653 E Electro Battery, a 50 tonne capacity telescopic boom crawler crane
How is Volvo utilising hydrogen technology?
International Rental News speaks with Toni Hagelberg, Head of Sustainable Power Systems and Carolina Diez Ferrer, Head of Advance Engineering programs at Volvo CE
Subscriptions drive rise in sales for Trimble
Technology firm sees revenue up for second quarter of 2022