CERGY, FRANCE: SPIE, the independent European leader in multi-technical services in the areas of energy and communications, has completed the acquisition of Worksphere, following the approval of the European antitrust authorities.
With the acquisition of Worksphere, a Dutch specialist in smart and sustainable building services, SPIE becomes the largest multi-technical services provider in the Netherlands, with revenue in excess of €1.2 bn.
The transaction multiple is 7.4x 2021E EBITA including run-rate synergies, and 10.9x pre synergies. The acquisition is financed with existing financial resources.
The impact on the Group’s 2022 leverage will be limited and rapidly absorbed thanks to Worksphere’s highly cash-generative profile.
Gauthier Louette, Chairman and CEO of SPIE, declared: “We heartily welcome Worksphere’s 1,900 employees within the SPIE Group. Together, we become the undisputed leader in multi-technical services in the Netherlands, thus creating great opportunities for our joint customers, employees and other stakeholders.”
SPIE is the European independent leader in multi-technical services in the fields of energy and communications.
In 2020, SPIE generated a consolidated production of 6,6 billion euros and a consolidated EBITA of 339 million euros.