German giant acquires Turkish company
Bilfinger, a leading German industrial services provider, has acquired specific units of the Turkey-based Teknokon Group.
Bilfinger, headquartered in Mannheim, Germany, has announced the acquisition of the Service & Maintenance and Industry units of the Teknokon Group, which operates in energy, industrial, and infrastructure projects in Turkey. This agreement covers approximately one thousand qualified employees, and it has been stated that no mass layoffs are planned.
In a statement released by Bilfinger, it was noted that the acquisition includes businesses operating in three different locations with annual revenues in the double-digit million euro range. The transaction is expected to be completed in the first half of 2026, following approval from the Competition Authority.
The Teknokon Group has been operating in the field of industrial services in Turkey for over 30 years. The group provides service and maintenance, industrial solutions, and technical services for energy, industrial, and infrastructure projects.
Bilfinger and Teknokon previously collaborated in 2019 to provide maintenance and repair services for TÜPRAŞ's İzmir Refinery. Following the completion of the acquisition, the Teknokon team is planned to be integrated into the existing operations within the Bilfinger Segment International.
News Source: 12punto
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