SPIE completes the acquisition of Worksphere

Published on 28 January 2022

Cergy, 28 January 2022 – SPIE, the independent European leader in multi-technical services in the areas of energy and communications, has completed on Thursday 27 January 2022 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[1]. Thanks to leading skills and know-how, an unmatched services portfolio and a densified local presence, SPIE will be the partner of choice for over 2,500 clients throughout the Netherlands. A unique employer brand position and visibility will result in increased attractiveness for technical talents.

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[2] 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.


[1] 2020 pro forma

[2] Ratio of net debt at end December to pro forma EBITDA for the full year, excluding the impact of IFRS 16