Zeppelin’s largest ever acquisition nears completition
03 April 2025
Zeppelin Group Management Board (from left to right): Alexandra Mebus, Matthias Benz, Christian Dummler. (Photo: Zeppelin GmbH)
Zeppelin Group expects the previously announced acquisition of Pepp Group BV, the largest deal in its history, to close by the summer of 2025.
The company said the deal will add around €1.1 billion in revenues annually, which would see Group revenues increase to over €5 billion.
It said that upon the completion, it will take over Pon Holdings’ sales and service organisations for Cat construction equipment, rental solutions, and traction and energy systems in Norway and the Netherlands.
The transaction includes around 20 companies in Norway and the Netherlands with a portfolio of new and used machines, drive and energy systems, servicing and spare parts, as well as solutions for equipment rental and associated services
In other news, Zeppelin Rental has said that rental demand across most markets have “developed slowly, stagnated or declined” due to a sharp decline in the residential construction and supply industry.
Despite the decline, in its results for the 2024 financial year, released by its parent company Zeppelin Group, revenues for 2024 were up by 9% to €805 million.
The slow growth of the construction sector also impacted Group revenues, which saw a modest decrease of 3% for the year to €3.82 billion.
EBITDA also decreased to €462 million from the €482 million it posted in 2023.
Matthias Benz, chairman of the Management Board of the Zeppelin Group, said 2024 had been a difficult year that had been “characterised by unfavorable market developments, sustained margin and cost pressures, as well as various extraordinary factors.”
He said, “This makes it all the more evident how strong and resilient our business model is. Thanks to the remarkable commitment of our employees, close collaboration with our customers, and targeted measures to safeguard earnings and increase efficiency, we were able to make important strategic progress and create a promising basis for future growth despite difficult conditions.”
Christian Dummler, managing director and CFO of the Zeppelin Group, added that despite declining markets, rising costs and sustained high inventories, the company was able to successfully counteract the effects of the economic downturn.
He said, “The fact that Creditreform Rating AG has once again assessed our creditworthiness with an overall “A” rating confirms the Group’s financial stability.
“This positive assessment is a clear sign of the robustness of our business models, particularly in view of the marked reluctance to invest, geopolitical tensions and ongoing high interest rates.”
The company said that although it is noting some challenges in terms of geopolitical and economic conditions, it expects a recovery in the remainder of the year.
In particular, it highlighted a positive outlook for its Power Systems business segment, which it said benefits from a “robust market environment and opens up additional potential in alternative drive technologies.”
Additionally, it is anticipating growth opportunities in the energy market. “By strategically focusing on integrated complete solutions with its own added value, Zeppelin wants to further strengthen its position in this segment,” the company said.
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