PE-backed Spie confirms IPO plans

The company has confirmed in its 2013 financial report that it will continue its pursuit of a public listing due to strong growth in revenues and EBITA last year.

According to new reports, the potential IPO could value the company at €3-4bn.

unquote" originally reported in January that the company was mulling an IPO, with plans to float by the end of the year.

Spie's private equity backers, which include Caisse de Dépot et Placement du Québec, were reported as likely to make their decision on whether to push forward with an IPO within two to three months at that time.

A private equity consortium led by CD&R acquired the French engineering group in May 2011 for €2.1bn from PAI partners. The deal saw CD&R injecting €510m of equity, while Ardian (known at the time as Axa Private Equity) and Caisse de Dépot et Placement du Québec contributed around €140m each.

Headquartered in Cergy, a suburb of Paris, Spie is a multi-technical services group with a focus on electrical, mechanical and HVAX engineering, energy, communication networks and railway infrastructure.

The company employs 37,000 staff and generated gross revenues of €4.6bn in 2013 – a 10.9% year-on-year increase – as well as EBITA of €298m, a 13.8% year-on-year increase. Gauthier Louette is its chairman and CEO.

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• Topics
• France
• Exits
• Industrials
• France
• Ardian (formerly Axa PE)
• Clayton Dubilier & Rice
• IPO