Schreck-Mieves GmbH

On 31 July 2008, our clients, the shareholders of Schreck-Mieves GmbH ("Schreck-Mieves") completed the disposal of Schreck-Mieves to Balfour Beatty plc (market cap £1.9bn), the leading international engineering, construction, services and investment group, for a cash consideration of £36mlion.Schreck-Mieves is a leader in the German track work market, which manufactures and supplies key rail components, systems, specialist plant and equipment.

Schreck-Mieves operates through three divisions based in West, Central and East Germany, providing track work services to the German mainline rail industry (Deutsche Bahn) and the mass transit and industrial markets. Rail components and systems are manufactured in Germany at facilities in Dortmund and Braunschweig. Schreck-Mieves also has a wider European presence, with operations across Holland, Sweden and Russia.

Schreck-Mieves had 2007 sales of £118mlion, operating profits of £3.3mlion and net assets of £17mlion.

Canaccord Genuity acted as financial advisor to the shareholders of Schreck-Mieves GmbH.