Spie: acquires Otto Life Science Engineering
(CercleFinance.com) - Spie has announced that it has signed an agreement to acquire approximately 87% of Otto Life Science Engineering GmbH in Germany, strengthening the multi-technical services group's presence in the pharmaceutical and biotechnology sectors.
Operating from six branches in Germany, Otto LSE specialises in EPC (engineering, procurement & construction) services and projects for production sites and laboratories in these sectors.
With around 140 highly qualified employees, the company generated sales of close to E75m in 2023, offering a 'very high and recurring' level of profitability (EBITA margin in excess of 20%).
Spie expects to complete the transaction in the third quarter of 2024, subject to the usual conditions precedent. The agreement provides for put and call options on the remaining 13% of the share capital held by the current management team.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
Operating from six branches in Germany, Otto LSE specialises in EPC (engineering, procurement & construction) services and projects for production sites and laboratories in these sectors.
With around 140 highly qualified employees, the company generated sales of close to E75m in 2023, offering a 'very high and recurring' level of profitability (EBITA margin in excess of 20%).
Spie expects to complete the transaction in the third quarter of 2024, subject to the usual conditions precedent. The agreement provides for put and call options on the remaining 13% of the share capital held by the current management team.
Copyright (c) 2024 CercleFinance.com. All rights reserved.