Essen, 22 May 2014 – SPIE GmbH, a fully owned subsidiary of SPIE, announces the signing of a Share Purchase Agreement (SPA) concerning the FLEISCHHAUER group. This acquisition is a further step towards the implementation of SPIE’s European growth strategy and strengthen its position as a leading multi-technical service provider in Germany.
The FLEISCHHAUER group is composed of G. Fleischhauer Ingenieur-Büro GmbH & Co. KG and G. Fleischhauer TV Communications GmbH both based in Hannover and G. Fleischhauer GmbH based in Dessau. The acquisition will be made on the basis of a debt free / cash free valuation of €20 million.
Founded in 1888, FLEISCHHAUER celebrated its 125th anniversary last year. In 2013 FLEISCHHAUER achieved sales of c. €45m and EBIT above 6.0% with nearly 400 employees in 9 locations across Germany.
FLEISCHHAUER offers a comprehensive portfolio of multi-technical facility services, ranging from the planning, installation and servicing of complex security installations to IT infrastructure, electro and media technology, combining more than a century of experience with a high level of technical expertise.
Gauthier Louette, Chairman and CEO of the SPIE group, declared "The acquisition of FLEISCHHAUR is part of our bolt-on M&A strategy. With this acquisition we will further strengthen our position in Germany by expanding our service offering locally.”
Markus Holzke, Managing Director of SPIE GmbH, explained "FLEISCHHAUER fits perfectly in our strategy to become the premier multi-technical service provider in Germany. Together with our entity SPIE Deutschland System Integration we are now able to offer ICT services with integrated capacities nationwide." The acquisition stays subject to the approval from the German antitrust authorities and is expected to be completed by the end of June 2014.