SPIE signs an agreement to acquire Christof Electrics - Establishing SPIE on the Austrian market

Ratingen, April 1^st, 2019 – SPIE, the independent European leader in multi-technical services in the areas of energy and communications, announced today that it has signed an agreement for the acquisition of Christof Electrics GmbH & Co KG (“Christof Electrics”) in Austria.

The acquisition of Christof Electrics will enable SPIE to offer an important part of its service portfolio to the Austrian market.

Christof Electrics offers complete solutions in the fields of electrical engineering, measurement, control and regulation technology as well as automation. The firm enjoys an excellent reputation on the market and has long-standing business relationships with a broad and loyal customer base in the energy, industry and the public sectors. The company employs 154 people and generated revenue of approximately €36 million in 2018.

Markus Holzke, Managing Director of SPIE Deutschland & Zentraleuropa, stated: “With the acquisition of Christof Electrics, we sustainably establish the SPIE brand on the Austrian market. Like SPIE, Christof Electrics has a strong focus on long-term business relationships with a broad customer base and the further development of highly qualified specialists for technical services. We are delighted to continue the success story together with the employees and executives of Christof Electrics.”

Stefan Christof, CEO of Christof Holding AG, added: “We are very pleased to have found in SPIE a responsible partner for our customers, business partners and above all for our employees. SPIE is a successful group whose strength opens up new development perspectives, especially for the workforce. With SPIE, we know Christof Electrics is in good hands.”

The final closing of the transaction is expected by May 2019 and is subject to approval by the antitrust authorities.