EarningsLast month, I caught up with TRIPLAN, the German provider of engineering services and software for the construction industry. If you remember, CROSS Informatik GmbH has been TRIPLAN’s majority shareholder since 2011 and, over the summer, announced a takeover bid for  all outstanding shares of TRIPLAN.

Yesterday, TRIPLAN published a press release saying that CROSS sold its entire holding in the TRIPLAN to KRESTA Industries, a conglomerate that provides engineering, manufacturing, assembly, insulation, and start up services to the paper, wood, automotive, and chemical industries. KRESTA has revenue of about € 180 million. Details of the stock transaction were not made public.

Franz Kreuzer, KRESTA founder and CEO, said in the press release that “the acquisition of TRIPLAN AG … is a continuation of the growth strategy of recent years and represents a significant step towards the development of KRESTA Group”.

I’m guessing here, but I imagine that this sale means that CROSS was not successful in purchasing the remaining shares of TRIPLAN — it is selling 50.1%, its entire holding in TRIPLAN, so didn’t get anywhere near 100% ownership.

What does this mean for TRIPLAN? Good question and one we won’t really be able to answer until the deal closes and the dust settles. CROSS was clearly a financial buyer/holder. Through its subsidiary companies, KRESTA offers a range of services to process industry customers, from chemical process development to assembly and construction and says it sees TRIPLAN as a strategic asset, so I would view this as overall positive for the engineering part of the business. The software part? TBD, as I can’t find any other software assets in KRESTA’s portfolio — but don’t read too much into that. It’s possible that a KRESTA division uses TRIPLAN’s solutions and wants to ensure their viability. As I said, TBD.