WALO International Ltd. has sold its majority stake in KERN Tunneltechnik SA to the German company PERI as of 7 December 2023. The KERN Group and WALO are now continuing their previous close and successful collaboration for the further and new development of construction and logistics machines on a contractual basis.
The WALO Group has been a shareholder of the KERN Group since 2017. In 2021, it took over the majority of the company, which is one of the leading providers of high-tech solutions in tunnelling. During this time, WALO has supported the KERN Group in its corporate development as a strategic investor and has played a key role in shaping its success story.
"With the sale of its majority shareholding to the German family-owned company PERI, one of the largest international manufacturers and suppliers of formwork and scaffolding systems, WALO is opening up new development and growth prospects for the KERN Group," says Leandro A. Testa, Chairman of the Board of Directors of WALO International Ltd. "Over the past few years, together with its CEO Reiner Kern and his team, we have turned the KERN Group into a disruptive and revolutionary market player. We are very proud of this, and we are delighted to now place this innovative company in ideal hands for its further development. The new combination of the strengths of PERI and the KERN Group makes the KERN Group an even stronger success partner for WALO."
Cooperation will continue
Parallel to the sale of its majority stake to PERI, WALO has concluded a cooperation agreement with the KERN Group. The company, based in Lugano, currently has around 80 employees at three locations. The KERN Group will continue under its current management, brand and name and will operate as an independent business segment within the PERI Business Unit Engineered Solutions.
"The merger with PERI opens up new perspectives for both companies and allows us to be stronger on the market in the future - worldwide," says Reiner Kern, CEO of KERN Tunneltechnik SA. "This means that both we and PERI can place our service to customers on an even broader basis and fulfil further requirements."
About WALO
Anchored in Switzerland and operating internationally, WALO is a family-run company in its 4th and 5th generation. For over 100 years, WALO has focussed on the combination of consistency and innovation. WALO is active as an innovative total company in all markets of the construction industry. With its experience and the continuous development of sustainable and economical solutions, WALO has established itself as a reliable partner in construction and infrastructure projects in Switzerland and worldwide. The company is headquartered in Dietikon in the canton of Zurich and has offices throughout Switzerland as well as in the UK and the USA.
About KERN Tunneltechnik:
KERN Tunneltechnik SA is an international company providing high-tech solutions for tunnelling. With a team composed of specialists with proven experience and with continuous research and development, KERN Tunneltechnik SA has been able to revolutionize the market for formworks and tunnelling machines, constantly pursuing technical innovations. KERN Tunneltechnik has the capability to satisfy at best customers with high quality, safety standards and requirements.
About PERI:
With a turnover of € 1,846 million in 2022, PERI is one of the largest manufacturers and suppliers of formwork and scaffolding systems. With around 9,100 employees and well over 160 warehouse locations in more than 65 countries, the family-owned company with headquarters in Weissenhorn (Germany) serves its customers with innovative system equipment and comprehensive services relating to all aspects of formwork and scaffolding technology.
Media enquiries:
Andreas Herren, Media Spokesman WALO Group
andreas.herren@walo.com
