400 structural sub-units a year, inspector aged 58
The framework contract with the state road agency runs for three years. Who signs the inspection reports in five years?
Does this sound familiar?
Two situations we know
Inspection alongside design
Half structural inspection, half structural design. Buyers only want one half. You are looking for someone who separates them cleanly.
Your day-to-day, as we know it
This is what happens in your business before anyone talks about succession
Closure times and equipment
The under-bridge inspection unit is booked, traffic management is in place, then it rains. The date slips by weeks.
Report after the inspection
The on-site inspection takes days, the report with damage descriptions and photos often much longer.
Rating S, V, D
Every defect needs a rating for structural stability, traffic safety and durability. That takes experience and time at the desk.
New talent with the VFIB course
A new inspector needs the VFIB course and years alongside an experienced colleague. That is your bottleneck.
How we measure your company
The metrics we look at in the first call
We look at the numbers you use to run your business yourself. The right column shows our acquisition criterion.
| Metric | What it tells us | Our benchmark |
|---|---|---|
| Certified structural inspectors (VFIB) | How much inspection work you can deliver independently of the owner. | We look for at least two certified inspectors. |
| Remaining term of framework contracts | How secure the workload of the next inspection cycles is. | Good with more than two years remaining. |
| Inspection share of total revenue | How recurring your business is, compared with design and one-off reports. | We look for a high share of recurring inspections. |
| Structures per cycle by main and simple inspection | How well the six-year and three-year cycles are spread over the years. | Good with an even spread and no gap years. |
| Days from inspection to report submission | Where your capacity is actually tied up. | We look at how stable the value is over the years. |
What actually changes after the acquisition
Step by step
We automate the desk work. Professional decisions and customer contact stay with your people.
TodayTransfer damage descriptions from notes and photos into SIB-Bauwerke
With GTPDictation and photos are pre-structured and assigned. The inspector checks and approves.
TodayCompare with the previous report and the bridge log
With GTPChanges since the last inspection are compared automatically. The inspector assesses whether the damage is progressing.
TodayDerive the condition rating under RI-EBW-PRÜF
With GTPA suggested rating is generated from the recorded defects. The decision and signature stay with the inspector.
TodayScheduling with closure times, equipment and traffic management
With GTPDeadlines from the inspection cycle are matched with available windows. Coordination with the asset owner stays personal.
Your systems stay in use:SIB-BauwerkeASB-ING data structure
AI potential in the segment
How much desk work can really be automated here
This is GTP's assessment. We show it upfront so you can see what we will work with after the acquisition.
Findings from drone images
Image models detect cracks and spalling in drone footage and suggest damage classes to the inspector.
Inspection report from damage data
A language model drafts the report in SIB-Bauwerke format from the inspection database, with photos assigned.
Route planning per structural sub-unit
Algorithms plan inspection routes by deadlines, closure times and locations and make good use of scaffolding time.
What limits the technology here
The main inspection requires hands-on examination on site, and the certified structural inspector is liable for every rating.
What this means for you
You keep the signature. We take the writing and sorting off your team.
Sources BASt report B 171: structural inspection under DIN 1076, support through semi-automated image analysis by UAV (2021). Rule R-17020 on the accreditation of inspection bodies under DIN EN ISO/IEC 17020:2012 (2024).
What we want to see
The documents we need
After the first call and the non-disclosure agreement, these five documents are enough for a solid offer.
- List of framework contracts with asset owner, term and number of structures
- Overview of structural inspectors with VFIB certificate and age
- Inspection calendar for the next six years by main and simple inspection
- Three anonymized inspection reports with condition ratings
- Evidence of owned or rented under-bridge inspection units and aerial work platforms
What we buy
Our acquisition profile for this segment
Criteria
- At least two certified structural inspectors
- Framework contracts with more than 2 years remaining
- EBITDA €0.5m to €5m
- Mostly recurring inspection revenue, digital inspection database
Value drivers
- Framework contracts with Autobahn GmbH, state road agencies, Deutsche Bahn
- Structures due again within 36 months
- SIB-Bauwerke and RI-EBW-PRÜF in digital form
Value reducers
- High share of design work alongside inspection
- One client above 30%
- Inspectors mostly over 58 with no successors
How you can tell we know your business
Three facts you can quote
- 01Germany has about 39,500 bridges on federal trunk roads, 27,000 on state roads and 67,000 owned by municipalities (BMV 2018, VFIB 2025, Difu 2013).
- 02About half of the 67,000 municipal bridges are not in good condition (Difu 2013).
- 03The federal government plans to renovate 4,000 motorway bridges by 2032 (BMV 2024).
Market range, third-party source
What comparable companies trade at in the market
| Size class | EBITDA multiple |
|---|---|
| Micro-cap, revenue below €5m The relevant class for most succession cases in this segment | 3.5x to 5.5x |
| Small-cap, revenue €5m to €50m | 5.0x to 7.0x |
Category business services (B2B). Source: DUB KMU-Multiples Q2/2026. The DUB figures show asking prices and price expectations on a business marketplace. They do not include completed transactions. The range comes from an independent third party and is not an offer from GTP.
From multiple to cash
The multiple gives the enterprise value. What reaches your account depends on four items:
- Net financial debt
- Loans, leases and shareholder accounts are deducted, cash is added.
- Working capital
- We assume a normal level. An account emptied before the sale reduces the price.
- Investment backlog
- Vehicles, measuring equipment and software due in the next two years are deducted from the price.
- Payment structure
- Part of the price is paid only after signing, through a rollover or a performance-based component.
What lowers the value
If one of these points applies, the value drops:
- The owner personally holds the key customers
- Short remaining terms or contracts that can be terminated at any time
- If a large share of revenue depends on one customer, the price goes down.
- No second management level that runs the business without the owner
We calculate your value in the first call using your numbers. We go through the four items openly with you, even if the result is below your expectations.
All market data and the regulatory timeline for testing and experts
Frequently asked questions
What owners in this segment ask
Do public-sector framework contracts stay in place?
In a share deal, yes. An asset deal would trigger a new tender. That is why we structure inspection firms as share deals.
Do you also buy the design unit?
We value it separately and lower. A spin-off before the sale is often the better route. We discuss this openly.
What do you automate?
Inspection reports from dictation and photos, suggested condition ratings, damage documentation. The inspector assesses and signs.
How fast?
Response usually within 72 h, indicative offer in 2 to 4 weeks, recognition check as a separate step.
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Why we buy this segment
Your clients trust inspectors with a name and recognition. That is why we only buy if the team stays and the next generation already works in the business.
We first look at who will sign in five years. If that is only the owner, we tell you before any price discussion.
For M&A advisors, tax advisors and succession advisors
Response on your client usually within 72 hours
Acquisition profile, teaser metrics and our commitments for all 24 segments are on a separate page. We only approach your client through you.
First step
Talk to a buyer who knows your segment
A 30-minute call is enough to know whether we fit. Afterwards you get a written assessment with reasons.
Request a confidential first call
Or call us: +49 40 89741812
ConfidentialOnly the three partners see your enquiry. An NDA is possible in advance on request. We share nothing with third parties.