Press release - SPIE signs an agreement for the acquisition of ICG Group in Germany
March 11 2024 - 2:55AM
Press release - SPIE signs an agreement for the acquisition of ICG
Group in Germany
Cergy, March 11th,
2024 – SPIE, the independent European leader in
multi-technical services in the areas of energy and communications,
announces the signature of an agreement to acquire c.92 % of ICG
Group in Germany.
Headquartered in Leonberg near Stuttgart, ICG
Group is a leading turnkey service provider for telecommunication
infrastructure (for both fibre and 5G Mobile telecommunications
networks). ICG Group covers the entire value chain and operates
across the whole country through a customer portfolio which
comprises network operators, infrastructure providers and
municipalities.
ICG Group generated a revenue of c. 230 million
euros in 2023 with margins north of 10% in line with the sector;
the company employs approximately 720 highly skilled employees.
With this acquisition SPIE will enter the market
for 5G mobile telecommunications infrastructure and significantly
strengthen its position in the fibre networks, a crucial move as
Germany is still in the early stages for the roll-out of fibre
across the country and is lagging behind the other European
countries in that field.
The transaction multiple is 9.1x EBITA 2023 and
7.5x EBITA 2024E. The transaction should result in a mid-single
digit EPS accretion for the Group as soon as the first year of
consolidation. The acquisition will be financed with the existing
financial resources of the Group while maintaining its sound
financial policy regarding leverage ratio. SPIE will acquire c.92%
of the share capital at closing, while the remaining 8%
shareholding will be retained by the current management team who
will remain in place and will contribute to pursue the business
development. The agreement includes put and call mechanisms related
to the 8%.
Gauthier Louette, Chairman and CEO of
SPIE, declared: “The acquisition of ICG Group enables SPIE
to further strengthen its position as a leading player in the
deployment of fibre networks and mobile telecommunication
infrastructure in Germany, which are very strategic and rapidly
growing markets. With its high growth perspectives and very strong
level of profitability, we are convinced that the combination of
ICG Group with SPIE will be highly value creative.”
Markus Holzke, CEO of SPIE Deutschland
& Zentraleuropa said: " We are very pleased to pursue
the development of our activities in Germany. The acquisition of
ICG Group will further reinforce our existing City Networks &
Grids segment and we are delighted to welcome the Management and
its highly skilled collaborators to further develop the business.
With its experienced management team and its entrepreneurial
approach, SPIE and ICG Group will be a perfect match.”
Vladimir Suznjevic, Managing Director of
ICG Group: "We are convinced that in SPIE we have found
the right partner to pursue our development as a leading provider
of complex communication infrastructure solutions. With SPIE, we
will continue to provide a secure home for all our employees. At
the same time, we will bring our experience and expertise to
further expand SPIE’s portfolio as a multi-technical service
provider for its customers. We are looking forward to the future
together!"
SPIE expects to close the transaction in Q2
2024, subject to customary closing conditions among which antitrust
approval.
About SPIE
SPIE is the independent European leader in
multi-technical services in the areas of energy and communications.
Our 50,000 employees are committed to achieving the energy
transition and responsible digital transformation alongside our
customers. SPIE group achieved in 2023 consolidated revenue of €8.7
billion and consolidated EBITA of €584 million.
Contacts
SPIEPascal OmnèsGroup Communications Director Tel.
+ 33 (0)1 34 41 81 11pascal.omnes@spie.com |
SPIEAudrey BourgeoisInvestor Relations
DirectorTel. + 33 (0)1 34 41 80 72audrey.bourgeois@spie.com |
IMAGE 7Laurent Poinsot & Claire DoligezTel. +
33 (0)1 53 70 74 70spie@image7.fr |
www.spie.comhttps://www.facebook.com/SPIEgrouphttp://twitter.com/spiegroup
Disclaimer
Certain information included in this press
release are not historical facts but are forward-looking
statements. These forward-looking statements are based on current
beliefs, expectations and assumptions, including, without
limitation, assumptions regarding present and future business
strategies and the environment in which SPIE operates, and involve
known and unknown risks, uncertainties and other factors, which may
cause actual results, performance or achievements, or industry
results or other events, to be materially different from those
expressed or implied by these forward-looking statements.
Forward-looking information and statements are not guarantees of
future performances and are subject to various risks and
uncertainties, many of which are difficult to predict and generally
beyond the control of SPIE. Actual results could differ materially
from those expressed in, or implied or projected by,
forward-looking information and statements. These risks and
uncertainties include those discussed or identified under Chapter 2
“Risk factors and internal control” of SPIE’s 2022 Universal
Registration Document, filed with the French Financial Markets
Authority (AMF) on April 12th, 2023 under number D.23-0265, which
is available on the website of SPIE (www.spie.com) and of the
Autorité des marchés financiers (www.amf-france.org). This press
release includes only summary information and does not purport to
be comprehensive. No reliance should be placed on the accuracy or
completeness of the information or opinions contained in this press
release.
This press release does not contain or
constitute an offer of securities for sale or an invitation or
inducement to invest in securities in France, the United States or
any other jurisdiction.
- Press release - SPIE signs an agreement for the acquisition of
ICG Group in Germany
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