The infrastructure construction industry in the DACH region centers around the development and maintenance of essential facilities and systems. Companies involved range from building material manufacturers to engineering firms and specialized contractors. These businesses provide solutions for transportation, energy, and urban development, cultivating a backdrop for growth. Sustainability is increasingly becoming a focal point, driving innovation in eco-friendly construction techniques and materials. As cities grow and infrastructure ages, investments in smart technologies and renewable energy solutions are pivotal to meet future demands. The industry is evolving toward resilience and efficiency, ensuring longevity in an ever-changing environment.

The DACH region's infrastructure construction investment landscape features a mix of private equity firms, corporate investors, and venture capitalists. Predominantly headquartered in Germany and Switzerland, these entities vary in size, with some employing thousands. Founded between the mid-19th century and the 21st century, they are known for their robust deal-making history, indicating confidence in future growth. In 2024 alone, these investors tallied numerous strategic transactions, underlining their commitment to expanding influence in this evolving sector.

Top 13 Infrastructure Construction Investors in DACH

1. Holcim

• Website: holcim.com
• Type: Corporate
• Headquarters: Zug, Zug, Switzerland
• Founded year: 1912
• Headcount: 10001+
• Number of deals in 2024: 12
• LinkedIn: lafargeholcim

Holcim is a leading building materials manufacturer based in Zug, Switzerland, founded in 1912. The company specializes in innovative and sustainable construction solutions, offering a diverse range of products including cement, aggregates, and ready-mix concrete. Holcim caters primarily to construction companies and architects, focusing on decarbonizing building practices and promoting circular construction to meet the growing demand for environmentally friendly materials. Notable transactions include the acquisition of Teko Mining in Serbia, which enhances their presence in the aggregates market, and the acquisition of HM Factory in Poland, aimed at entering the precast market to support industrial and residential construction. These strategic moves underscore Holcim's commitment to expanding its role in the infrastructure construction sector.

2. Partners Group

• Website: partnersgroup.com
• Type: Private Equity
• Headquarters: Baar, Zug, Switzerland
• Founded year: 1996
• Headcount: 1001-5000
• Number of deals in 2024: 19
• LinkedIn: partners-group

Partners Group Holding AG is a prominent investment management firm based in Baar, Zug, Switzerland, specializing in private equity, private infrastructure, private real estate, and private debt. Founded in 1996, the firm manages over USD 149 billion in assets and is recognized for its innovative investment strategies and commitment to sustainability. Among their notable transactions, Partners Group has acquired Parmaco Oy, an education infrastructure platform in Finland, and United States Infrastructure Corporation, which focuses on utility locating services in North America. Additionally, they are backing EnfraGen in acquiring renewable operating assets in Panama and Costa Rica, further emphasizing their engagement in infrastructure-related investments. Their diverse investment solutions cater to institutional investors, private banks, and individual investors, helping them navigate the complexities of private markets.

3. Deutsche Bank

• Website: db.com
• Type: Corporate
• Headquarters: Frankfurt, Hesse, Germany
• Founded year: 1870
• Headcount: 10001+
• Number of deals in 2024: 32
• LinkedIn: deutsche-bank

Deutsche Bank AG, founded in 1870 and headquartered in Frankfurt, Hesse, Germany, is a leading investment bank and financial services provider. With over 10,000 employees, the bank offers a wide range of solutions including investment banking, corporate banking, cash management, trade finance, and securities services. Deutsche Bank serves corporate and institutional clients, helping them manage their financial assets and liquidity effectively through its digital platform, Autobahn. In recent years, Deutsche Bank has been involved in several notable transactions that highlight its role in infrastructure-related financing. For instance, in September 2023, Deutsche Bank participated in a post-IPO debt financing round for Fincantieri, a company engaged in shipbuilding and maritime infrastructure, raising approximately $845 million. Additionally, in July 2023, Deutsche Bank, alongside Barclays, provided $394 million to Adani New Industries, which is focused on solar module manufacturing, a critical component of renewable energy infrastructure. Furthermore, Deutsche Bank's involvement in debt financing for Yondr Group, which raised $900 million in December 2024, showcases its commitment to supporting companies that contribute to infrastructure development. These transactions reflect Deutsche Bank's active participation in sectors that are essential for infrastructure construction and development.

4. Foundamental

• Website: foundamental.com
• Type: Venture Capital
• Headquarters: Berlin, Berlin, Germany
• Founded year: 2019
• Headcount: 11-50
• Number of deals in 2024: 7
• LinkedIn: foundamental

Foundamental is a Berlin-based venture capital firm founded in 2019, specializing in the architecture, engineering, and construction (AEC) technology sectors. They provide early-stage funding and strategic support to startups, helping founders navigate the challenges of building their businesses. Their portfolio includes companies focused on 3D design, construction, renovation, and supply chain logistics, primarily targeting businesses in the AEC industry. Notable transactions include investments in Infraprime Logistics, which focuses on logistics solutions for construction, and Mighty Buildings, which raised significant funding to advance sustainable construction technologies. Additionally, their involvement with 011h, a sustainable construction company, highlights their commitment to supporting innovative solutions in the infrastructure construction space.

5. Sika

• Website: sika.com
• Type: Corporate
• Headquarters: Baar, Zug, Switzerland
• Founded year: 1910
• Headcount: 10001+
• Number of deals in 2024: 2
• LinkedIn: sika

Sika AG is a leading specialty chemicals company based in Baar, Zug, Switzerland, founded in 1910. With a global presence in 103 countries, Sika develops and produces innovative solutions for the construction and industrial sectors. Their extensive product range includes concrete admixtures, waterproofing systems, and flooring solutions, catering primarily to construction companies and contractors. In recent years, Sika has made significant acquisitions to enhance its offerings in the infrastructure construction market. Notably, in April 2024, Sika acquired Kwik Bond Polymers, LLC, a manufacturer of polymer systems for concrete infrastructure refurbishment, strengthening its position in the U.S. market. Additionally, the acquisition of Modern Waterproofing Group in June 2020, a leading manufacturer of roofing and waterproofing systems in Egypt, further expanded Sika's product portfolio in the construction sector. These strategic moves highlight Sika's commitment to providing high-quality materials that enhance the durability and sustainability of construction projects.

6. Siemens

• Website: siemens.com
• Type: Corporate
• Headquarters: Munich, Bavaria, Germany
• Founded year: 1847
• Headcount: 10001+
• Number of deals in 2024: 11
• LinkedIn: siemens

Siemens AG, founded in 1847 and headquartered in Munich, Bavaria, Germany, is a prominent technology conglomerate specializing in industrial automation, energy solutions, rail transport, and health technology. With a workforce of approximately 320,000 employees, Siemens generates substantial revenue and provides innovative products and services across various sectors. Notably, Siemens has made strategic acquisitions that enhance its capabilities in infrastructure-related areas. For instance, the acquisition of the eHouse manufacturing division of Integrated Electrical Services, Inc. in 2010 aimed to bolster Siemens Energy's product portfolio, which is crucial for infrastructure projects. Additionally, the acquisition of MAC Systems, Inc. in 2023, a security systems integrator, further demonstrates Siemens' commitment to integrating advanced technologies into infrastructure solutions. These transactions highlight Siemens' active role in the infrastructure construction industry, making them a relevant investor in this sector.

7. Deg

• Website: deginvest.de
• Type: Corporate
• Headquarters: Neunkirchen, North Rhine-Westphalia, Germany
• Founded year: 1962
• Headcount: 501-1000
• Number of deals in 2024: 17
• LinkedIn: deg

DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH is a public entity based in Neunkirchen, North Rhine-Westphalia, Germany, founded in 1962. As a development finance institution, DEG focuses on providing long-term financing and advisory services to private enterprises in developing and emerging markets, emphasizing sustainable development and job creation. DEG supports businesses across various sectors, including agriculture, manufacturing, and notably, infrastructure. In recent transactions, DEG has been involved in significant debt financing activities, such as a $350 million debt financing for Ronesans Holding and a $600 million post-IPO debt for ACCIONA. These transactions highlight DEG's active role in financing infrastructure projects, making it a key player in the sector.

8. Heidelberg Materials

• Website: heidelbergmaterials.com
• Type: Corporate
• Headquarters: Heidelberg, Baden-Württemberg, Germany
• Founded year: 1873
• Headcount: 10001+
• Number of deals in 2024: 4
• LinkedIn: heidelbergmaterials

Heidelberg Materials, founded in 1873 and based in Heidelberg, Baden-Württemberg, Germany, is a leading building materials manufacturer. The company specializes in producing and distributing essential products such as cement, aggregates, ready-mixed concrete, and asphalt, which are crucial for construction and infrastructure development. In recent years, Heidelberg Materials has made several strategic acquisitions to enhance its market presence and capabilities in the infrastructure sector. Notable transactions include the acquisition of Kynningsrud Prefab, a precast contractor in Norway and Sweden, which strengthens their offerings in precast construction. Additionally, the acquisition of Bach & Co. in New York, which includes aggregate assets, aligns with their strategy to optimize their portfolio in core markets. The purchase of Cementir Italia for €315 million significantly bolstered their operations in Italy, while the acquisition of Alex Fraser Group in Australia enhanced their position in recycled construction materials and asphalt. Furthermore, the acquisition of Corliss Resources in the US Pacific Northwest expanded their footprint in the aggregates and ready-mixed concrete market. These transactions underscore Heidelberg Materials' commitment to supporting infrastructure development through reliable and sustainable material supply.

9. Nemetschek Group

• Website: nemetschek.com
• Type: Corporate
• Headquarters: Flensburg, Schleswig-Holstein, Germany
• Founded year: 1963
• Headcount: 1001-5000
• Number of deals in 2024: 4
• LinkedIn: nemetschekgroup

The Nemetschek Group, founded in 1963 and based in Flensburg, Germany, is a corporate investor specializing in software solutions for the architecture, engineering, and construction industries. With a workforce of 1001-5000 employees, they provide a range of innovative software products that enhance efficiency and collaboration among architects, engineers, and construction managers. Notable transactions include their leadership in the Series B funding round for Reconstruct, a platform that utilizes AI for quality control in construction, and their participation in the seed funding for SymTerra, a communication platform aimed at improving site communication in the construction industry. Additionally, they have made strategic acquisitions, such as DACODA GmbH and Bluebeam Software, further solidifying their position in the construction technology space. These activities demonstrate their active role in advancing infrastructure construction through technology.

10. LafargeHolcim

• Website: lafargeholcim.com
• Type: Corporate
• Headquarters: Zug, Zug, Switzerland
• Founded year: 1969
• Headcount: 10001+
• Number of deals in 2024: 1
• LinkedIn: lafargeholcim

LafargeHolcim, founded in 1969 and headquartered in Zug, Switzerland, is a leading corporate investor in the building materials sector, specializing in innovative and sustainable construction solutions. The company offers a diverse range of products, including low-carbon concrete and cement, and employs circular technology for recycling materials. Their customer base primarily consists of stakeholders in the construction industry, who rely on LafargeHolcim for environmentally friendly building materials that meet modern standards. Notably, LafargeHolcim has made strategic acquisitions to strengthen its market position, including the acquisition of Somaco, a Romanian building blocks producer, which enhances their footprint in the local market. Additionally, they acquired The Kendall Group, a prominent aggregates and ready-mix concrete manufacturer in the UK, and Tarrant Concrete, a leading ready-mix concrete company in Texas. These transactions reflect LafargeHolcim's commitment to expanding its operations in key markets and supporting infrastructure development through their product offerings.

11. Deutsche Beteiligungs AG

• Website: dbag.com
• Type: Private Equity
• Headquarters: Frankfurt, Hesse, Germany
• Founded year: 1965
• Headcount: 51-200
• Number of deals in 2024: 2
• LinkedIn: deutsche-beteiligungs-ag

Deutsche Beteiligungs AG is a private equity firm based in Frankfurt, Hesse, Germany, founded in 1965. The firm specializes in investments in mid-sized companies and provides capital and advisory services to enhance the growth potential of its portfolio companies. DBAG has a diverse investment strategy, focusing on sectors such as telecommunications, IT services, software, and healthcare. Notably, DBAG has made significant investments in the infrastructure construction context, including the acquisition of R + S Group AG, a provider of technical building services, for 15 million euros. This acquisition aligns with DBAG's strategy to invest in mid-market companies and highlights their involvement in the infrastructure sector. Additionally, DBAG has engaged in other transactions, such as acquiring stakes in companies like Vitronet Group and netzkontor nord Gmbh, further showcasing their active investment approach.

12. wienerberger

• Website: wienerberger.com
• Type: Corporate
• Headquarters: Vienna, Vienna, Austria
• Founded year: 1819
• Headcount: 10001+
• Number of deals in 2024: 2
• LinkedIn: wienerberger

Wienerberger AG, founded in 1819 and headquartered in Vienna, Austria, is a leading corporate investor in the construction materials sector. The company specializes in manufacturing bricks, roof tiles, and plastic pipes, serving construction businesses and contractors with innovative and sustainable building solutions. In recent years, Wienerberger has made several strategic acquisitions to enhance its market position and product offerings. Notably, they acquired Vargon d.o.o., a provider of piping solutions in Croatia, to strengthen their Piping Solutions Business Unit in South-Eastern Europe. Additionally, their acquisition of FloPlast and Cork Plastics through their subsidiary Pipelife International aims to broaden their product portfolio in water management solutions. These transactions reflect Wienerberger's commitment to enhancing the quality and efficiency of construction projects, making them a significant player in the infrastructure construction industry.

13. Sgs

• Website: sgs.com
• Type: Corporate
• Headquarters: Geneva, Geneva, Switzerland
• Founded year: 1878
• Headcount: 10001+
• Number of deals in 2024: 5
• LinkedIn: sgs

SGS S.A. is a leading testing, inspection, and certification company based in Geneva, Switzerland, with a history dating back to 1878. With a workforce of over 10,000 employees, SGS operates globally, providing independent services to ensure product quality and compliance across various industries. In recent years, SGS has strategically expanded its presence in the infrastructure construction sector through several key acquisitions. For instance, in December 2020, SGS acquired an 80% stake in Ryobi Geotechnique International Pte Ltd, enhancing its geoengineering services in Southeast Asia. Additionally, the acquisition of Korea Construction Quality Test & Analysis in April 2010 further solidified SGS's capabilities in construction materials testing and ground investigation services. These transactions reflect SGS's commitment to diversifying its service offerings and strengthening its role in the construction and infrastructure markets.

Infrastructure Construction Insights: Key Investors in DACH

Investor	Headquarter	Size	Founded	Deals 2024
Holcim	Zug, Zug, Switzerland	10001+	1912	12
Partners Group	Baar, Zug, Switzerland	1001-5000	1996	19
Deutsche Bank	Frankfurt, Hesse, Germany	10001+	1870	32
Foundamental	Berlin, Berlin, Germany	11-50	2019	7
Sika	Baar, Zug, Switzerland	10001+	1910	2
Siemens	Munich, Bavaria, Germany	10001+	1847	11
Deg	Neunkirchen, North Rhine-Westphalia, Germany	501-1000	1962	17
Heidelberg Materials	Heidelberg, Baden-Württemberg, Germany	10001+	1873	4
Nemetschek Group	Flensburg, Schleswig-Holstein, Germany	1001-5000	1963	4
LafargeHolcim	Zug, Zug, Switzerland	10001+	1969	1
Deutsche Beteiligungs AG	Frankfurt, Hesse, Germany	51-200	1965	2
wienerberger	Vienna, Vienna, Austria	10001+	1819	2
Sgs	Geneva, Geneva, Switzerland	10001+	1878	5

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