SPIE completes the acquisition of SAG

Published on 03 April 2017

Cergy, April 3rd, 2017 – SPIE, the independent European leader in multi-technical services in the areas of energy and communications, has completed on March 31st, 2017 the acquisition of the SAG Group (“SAG”), following the approval of the European antitrust authorities.

With the acquisition of SAG, the German leader in energy infrastructure services, SPIE strongly accelerates its strategic development in Germany & Central Europe, and becomes a diversified, leading technical services provider in this region.

Gauthier Louette, Chairman and CEO of SPIE, declared: “We heartily welcome SAG’s 8,000 employees within the SPIE Group. We are very pleased that this acquisition has come to fruition as we have had interest in SAG for a long time. SPIE and SAG share very similar values and culture and the combination of both groups will give us a new dimension in Germany and Central Europe.

The acquisition is financed by a €600 million bond issue, with a 7-year maturity and a 3.125% coupon. The placement of this bond, on March 15th, 2017, was met with a large success, notably among German investors.

With pro forma revenue of €6.5 billion and close to 46,000 employees in 2016, the combination of SPIE and SAG establishes a major, truly pan-European leader in technical services.