Germany has a well-documented infrastructure problem. Decades of underinvestment have left roads, rail networks, energy systems, and digital connectivity falling short of what Europe's largest economy requires. Private equity firms have been circling that gap for years, and HIG Capital has now moved to stake a claim in it.
On July 6, the Miami-based firm announced a definitive agreement to acquire a majority stake in TERRAS Group, a Montabaur-based infrastructure engineering and construction services company operating across the DACH region. Co-founders Dr. Dirk Sojka and Ralf Sojka, who built the company from its 2014 founding, will reinvest as part of the transaction — a signal that the people who know TERRAS best see more runway ahead.
What TERRAS Does and How It Has Grown Since 2014
TERRAS is not a general contractor. It occupies a defined position in the civil infrastructure value chain, delivering planning, execution, and disposal services to public and private clients across five end markets: mobility, energy, digital, water, and urban development. Specialist capabilities include regional civil engineering, specialty foundation engineering, rail construction, and the management of quarries, soil depots, and recycling operations.
The company runs on a regional cluster model — local operating units with their own entrepreneurial autonomy, supported by centralized procurement, governance, and best-practice sharing from the center. That structure has allowed it to scale without losing the responsiveness that makes regional specialists competitive on local contracts.
"When we founded TERRAS, we had a clear vision to build a platform capable of delivering the full civil infrastructure value chain while preserving the entrepreneurial culture that makes regional specialists so successful," the Sojka co-founders said. "Today, that vision is becoming a reality, and we believe we are only at the beginning of our journey."
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Rohin Jain, Managing Director at H.I.G. Middle Market Europe, made clear this is a thesis-driven investment rather than an opportunistic one. "TERRAS exemplifies the type of business we look to partner with — a founder-led platform with a proven formula operating in a large, structurally attractive market," he said. The plan calls for thickening TERRAS's cluster density inside Germany before expanding the model into new geographies.
The deal is one of several HIG Capital has announced across Europe in recent months under chief executive Brian Schwartz, who took over in April from co-founders Sami Mnaymneh and Tony Tamer. Mnaymneh co-founded the firm in 1993 alongside Tamer and directed its expansion from a Miami startup into a $75 billion platform covering private equity, credit, real estate, and infrastructure. He stepped into an executive chairman role and retained his investment committee seat, as did Tamer.
Morgan Lewis advised HIG Capital on the transaction, with partner Florian Harder leading the team. The deal is subject to customary regulatory and closing conditions. Financial terms were not disclosed.
HIG Capital was co-founded by Sami Mnaymneh, who serves as Founder and Executive Chairman, and Tony Tamer, who also serves as Founder and Executive Chairman. The firm has invested in and managed more than 400 companies since its founding, with a current portfolio exceeding 100 companies across combined revenues of more than $53 billion.
