Grant Thornton advises FASTR

Düsseldorf/Frankfurt, 22 October 2026

The energy service provider FASTR GmbH acquired Velero Energy Services GmbH and Contherma GmbH from the Velero Group on 30 September 2026. The two companies manage a heating portfolio comprising approximately 6,000 residential units. The transaction also includes existing district heating and energy contracting agreements with third-party providers. FASTR will assume responsibility for the operation and modernisation of the heating systems and intends to work with Velero to gradually develop the heating supply within the relevant real estate portfolios.

An interdisciplinary team from Grant Thornton in Germany, led by Partners Axel Wagner (Tax) and Justus Quack (Financial Advisory), supported FASTR throughout the entire transaction. The services provided included Financial Due Diligence and Tax Due Diligence as well as comprehensive support on tax and financial matters in connection with the transaction; this also included advice on the purchase agreement negotiations.

FASTR is an independent energy services provider headquartered in Düsseldorf, Germany. The company covers the entire value chain, from the planning and design of energy and building technology systems through their financing, construction and operation to the supply of energy. FASTR manages a real estate portfolio of more than two million square metres for over 260 customers and operates approximately 1,100 heating plants as well as around 75 local energy networks with more than 3,000 meters.

Velero Energy Services GmbH and Contherma GmbH were subsidiaries of the Velero Group prior to the transaction and operate heating supply systems within the real estate portfolio managed by Velero.

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