With this acquisition, Spie further strengthens its strategic position in the German industrial services market, the largest and most dynamic in Europe. Building on the acquisition of Robur completed in 2024, this transaction opens up prospects for commercial synergies within a diversified client portfolio, including several leading groups. It will also enable Spie to expand into industrial automation and intralogistics solutions, allowing the group to move significantly up the value chain and support its long-term growth ambitions.

The EBITA multiple for the transaction is high-single-digit (7-9%). The operation is expected to result in a mid-single-digit (4-6%) accretion of adjusted EPS from the very first year of consolidation. The acquisition will be self-financed, with a limited impact on the leverage ratio. Spie will acquire approximately 99% of the share capital at closing, while the remaining 1% will be retained by the current management team, who will remain in place and contribute to the business's development. The agreement includes put and call option mechanisms relating to this 1%.

Based in Kolbermoor (Bavaria), ROFA Industrial Automation AG (ROFA) is a major player in industrial services in Germany. The company provides turnkey solutions in factory automation, which accounts for about 80% of its revenue, as well as in warehouse and logistics automation (about 20%).

Its offering covers the entire project lifecycle: consulting, software/hardware engineering, manufacturing, commissioning, and after-sales services.