Constellation, the Swiss private equity firm which recently closed its latest fund, has acquired heating, ventilation and alternative energy system maintenance group R Häsler in a management buyout.
R Häsler plans, installs and services heating systems, ventilation and alternative energy systems in single and multi-family houses and industrial buildings.
The business was founded 30 years ago and employs around 100 people, who operate through a network of six branches in the north-western part of Switzerland.
Constellation closed its Constellation III German Asset Light SICAV-FIS private equity fund earlier this month but has not disclosed the vehicle’s size.
The fund will target “asset light” service companies based in the DACH region over the coming year. The investment strategy will focus on companies that generate revenues between €20m and €150m, employing a buy-and-build strategy.
In addition, Constellation has taken on the advisory mandate for one of Greenpark Capital's private equity portfolios in the DACH region.