Yahoo Finance Press release - SPIE signs an agreement to acquire MBG energy in Germany
Cergy, March 27th, 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.75% of MBG energy GmbH in Germany.
MBG energy GmbH is a provider of engineering, procurement and construction (EPC) services for the
photovoltaic roll-out mainly for rooftop installation on buildings in North-Eastern Germany. The company, headquartered in Berlin, was founded in 2018 and employs 47 employees. The company generated a revenue of approximately 15 million euros in 2023.
With this acquisition, SPIE will strengthen its position in the fast-growing photovoltaic roll-out market and gain competences in that field in a context of the adoption by the European legislators of the EU Solar Standard within the European Performance of Buildings Directive. This legislation is set to require solar installations on buildings across the European Union. The acquisition of MBG energy GmbH will also provide with potential commercial synergies with the existing Technical Facility Management segment of SPIE in Germany.
The management team of MBG energy GmbH comprises the founders who will join SPIE’s team to further develop the business and they will stay as minority shareholders. Thus, SPIE acquires c.75% of the share capital, while the remaining c.25% shareholding will be retained by the current management team. The agreement includes put and call mechanisms related to the c.25%.
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.
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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.
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