M&A Construction Champions 2022

M&A strategies of the most successful companies of the construction sector

Contents of the study

Unresolved succession issues, structural challenges such as the shortage of skilled workers, increasing digitalisation, and changing customer needs are leading to significant consolidation in the construction industry.

To better understand this development, S&B Strategy examined how companies are dealing with this challenge. From more than 29,000 medium and large transactions in the DACH1 region over the past 10 years, we therefore found almost 1,400 construction-relevant transactions and analysed over 500 of them in detail.

Based on various evaluation criteria, we have created a ranking and identified those companies in the construction sector that not only show high M&A activity, but also high sales growth, a profitable development and a stable financial structure – in other words, those companies that are “growing inorganically as well as profitably” and thus sustainably driving the consolidation of the construction industry.

In this study, we not only show which companies have successfully grown inorganically in the past, but also go into more detail on the success factors of these companies. It turns out that profitable or sustainable growth requires above all a clear M&A strategy that builds on the company’s overall strategy, as well as skilful and consistent implementation, especially with regard to the integration of the acquired companies after the purchase agreement has been signed.

Scope and objectives of the study
Approach and methodology


Patrick Seidler

Patrick is a founding partner of S&B Strategy GmbH and is responsible for M&A.

With over 12 years of experience as a managing director, consultant and manager with a focus on corporate and investor acquisitions, he is a proven expert in M&A – both buy- and sell-side mandates. Patrick gained extensive experience in the deals department of PwC, in the boardroom of Hubert Burda Media as well as in M&A and strategy projects for national and international clients in Europe and Asia. Patrick completed his Master’s degree in Business Administration at the Amsterdam Business School.

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