Burkhalter Group expands into energy and water infrastructure with Swiss acquisition
What's the deal? Burkhalter Group, the Swiss building technology company listed on the SIX Swiss Exchange, has acquired Progressio Holding GmbH and its wholly owned subsidiary anplaq ag, both based in Tamins in the canton of Graubünden. The purchase agreement was signed and completed on May 1, 2026.
anplaq ag specialises in building plants, machinery, and pipelines for energy and water infrastructure. It designs, manufactures, and installs steel and stainless-steel pipeline systems for energy, district heating, drinking water, and wastewater projects. The company employs around 30 people and generates annual sales of roughly CHF 8.5M.
The purchase price is being paid partly in cash and partly in listed Burkhalter HoldingDealroom has a profile for this one. Try Dealroom → registered shares. Around 38,000 new shares will be issued from the existing capital band, excluding shareholders' subscription rights. The first trading day for the new shares is scheduled for June 24, 2026.
The sellers have agreed not to sell two thirds of the Burkhalter shares received for two years under a lock-up agreement.
Why now? Burkhalter described the deal as part of a "targeted expansion" of its market area into a complementary business line. The acquisition of further building technology companies remains a key component of the group's growth strategy, and energy and water infrastructure represents a natural adjacency to its core electrical installation business.
What could go wrong? anplaq ag is a small operation — 30 employees and CHF 8.5M in revenue — being absorbed into a much larger group. Integration risk is always present, though Burkhalter said all employees will be retained and the company name will remain unchanged. The share-based payment structure also means existing Burkhalter shareholders face modest dilution.
The signal: As a mature, publicly listed building services group, Burkhalter has long relied on bolt-on acquisitions to grow, and this deal marks a deliberate push beyond its electrical engineering core into energy and water infrastructure — a sector benefiting from accelerating European investment in district heating and utility modernisation. The modest size of anplaq ag (CHF 8.5M in revenue, ~30 staff) keeps execution risk low while giving Burkhalter a foothold in a complementary market it can scale through further targeted deals.
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