UHL Bau Partners with FSN Capital for Austrian Expansion
Deal News | May 13, 2025 | FSN Capital Partners AS
FSN Capital Compass I has announced its strategic investment in UHL Bau, headquartered in Wiener Neustadt, Austria. With this partnership, UHL Bau, a notable player in underground civil engineering for critical infrastructure, aims to enhance its standing in the Austrian market. This marks the first platform investment in Austria for FSN Capital Compass I. UHL Bau, founded by the Uhl family in 1966, has grown consistently over the past 15 years, making it a key infrastructure services provider in Austria, generating revenues of more than €80 million in 2024. Key shareholders, Jürgen and Sabine Uhl, will maintain a minority stake in the company. FSN Capital's investment strategy is set on accelerating UHL Bau's growth through organic expansion and strategic acquisitions. The deal, still pending approval from necessary authorities, underscores a focus on sustainability, operations excellence, and forming best practice alliances. Key advisory roles were filled by LARK, EY-Parthenon, PwC, among others for FSN Capital.
Sectors
- Private Equity
- Civil Engineering
- Infrastructure
Geography
- Austria – UHL Bau is based in Austria and the investment is aimed at strengthening the company’s market position within the Austrian civil engineering sector.
- Northern Europe – FSN Capital is a Northern European private equity firm, which provides context about the regional focus of the investment firm involved in this deal.
Industry
- Private Equity – FSN Capital, a private equity firm, is making a strategic investment in UHL Bau, highlighting its role in funding and guiding the growth of companies.
- Civil Engineering – UHL Bau operates within the civil engineering sector, focusing on infrastructure crucial for public utilities such as electricity, water, and telecommunications.
- Infrastructure – The focus of UHL Bau on infrastructure projects aligns with FSN Capital’s investment strategy to support the development and modernization of critical infrastructure in Austria.
Financials
- €80 million – UHL Bau's revenue in 2024, indicating the company's financial performance.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| UHL Bau GmbH | Target Company | Company | An Austrian civil engineering company specializing in underground utility construction for critical infrastructure. |
| FSN Capital Compass I | Bidding Company | Private Equity | FSN Capital Compass I, part of FSN Capital Partners, is the investing party seeking to partner with and grow UHL Bau. |
| Jürgen Uhl | Existing Owner | Person | Co-owner and part of the founding family of UHL Bau, retaining a minority stake and supervisory board position. |
| Sabine Uhl | Existing Owner | Person | Co-owner and part of the founding family of UHL Bau, retaining a minority stake and supervisory board position. |
| FSN Capital Partners | Investment Advisor | Company | A significant Northern European private equity firm advising FSN Capital Compass I on the investment. |
| LARK, EY-Parthenon, PwC, Frank Partners, Kinsky Capital Management, Marsh | Advisors | Companies | Advisory firms providing legal, financial, and strategic advice to FSN Capital Compass I during the transaction process. |