Uhl Bau

UHL Bau is a leading specialist in underground civil engineering for critical infrastructure

Founded in 1966, the company provides a comprehensive range of services for the construction and maintenance of utility infrastructure, including electricity, water, sewage, gas, district heating, fiber optics, and telecommunications.

Investment Thesis

• The Austrian civil engineering market for critical infrastructure is attractive and highly resilient, with most spending focused on upgrades and repairs rather than new builds
• UHL Bau has achieved profitable revenue growth of over 10% per year for the past 15 years
• With FSN’s investment, the goal is to create a leading player in the Austrian civil engineering market for critical infrastructure

Main Transformation Initiatives

• Drive continued organic growth by increasing share of wallet with existing customers and expanding the service offering in Vienna and Lower Austria
• Accelerate growth and enhance geographic diversification through add-on acquisitions within Austria
• Continued digitalization efforts and implement operational best practices in add-on acquisitions