Walo sells Kern Tunneltechnik to PERI
Die Walo International AG hat ihre Mehrheitsbeteiligung an der Kern Tunneltechnik SA an PERI verkauft, einen Spezialisten für Schalungs- und Gerüsttechnik. Gleichzeitig schloss Walo einen Kooperationsvertrag mit der Kern Gruppe.
The Dietikon-based construction company Walo Bertschinger has sold its majority stake in Kern Tunneltechnik SA, based in Paradiso, to PERI in Weissenhorn, Bavaria, a company specialising in formwork and scaffolding technology, according to a press release. The Walo Group had been a shareholder of Kern since 2017 and acquired a majority stake in the company in 2021, which is one of the leading providers of high-tech solutions in tunnelling, according to the press release.
“With the sale of its majority stake 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,” said Leandro A. Testa, Chairman of the Board of Directors of Walo International AG.
According to the company press release, Walo has also concluded a cooperation agreement with the Kern Group. The company currently has around 80 employees at three locations. Under the current management of CEO Reiner Kern, it will operate as an independent business segment under the name Kern within the PERI Group. “The merger with PERI opens up new perspectives for both companies and allows us to be stronger on the market in the future – worldwide,” Kern is quoted as saying.
“In recent years, together with its CEO Reiner Kern and his team, we have turned the Kern Group into a disruptive and revolutionary market player,” Chairman of the Board of Directors Testa is quoted as saying. The new combination of the strengths of PERI and the Kern Group makes it an even stronger success partner for Walo. PERI International had a turnover of 1.8 billion euros in 2022 and is active in 65 countries with 9100 employees.