SPIE Acquires SAG for €850 Million
January 4, 2017
Cleary Gottlieb is representing French engineering group SPIE in the acquisition of the German SAG Group from private equity firm EQT for approximately €850 million.
The transaction was announced on December 23, 2016. It is subject to regulatory approval and will close in the first half of 2017.
SAG is a provider for energy infrastructure services, headquartered in Langen, Germany, with subsidiaries in Germany, Slovakia, the Czech Republic, Poland, Hungary and France. It employs approximately 8,000 people across more than 170 locations, including 120 in Germany.
SPIE, located in Cergy-Pontoise, France, is an independent European leader in electrical and mechanical engineering and HVAC services, energy, and communications systems. In 2016, Cleary represented SPIE in the acquisition of COMNET Group, a service provider for IT, telecommunications and security solutions and services, and in 2013 in the acquisition of the service solutions business from HOCHTIEF Solutions AG, a subsidiary of German construction group HOCHTIEF AG. The acquisition of SAG Group will enhance SPIE’s position on the German market.