PE firms team up for Spie auction

Bain Capital and Carlyle are also expected to team up in order to secure a deal, as are CVC and Goldman Sachs. Spie, a PAI partners portfolio company since 2006, is expected to be sold for around €2bn.

The Société Générale-run auction process has also attracted interest from corporate buyers such as Bouygues and Vinci. The bank is reportedly willing to arrange a staple financing package in order to facilitate the transaction for private equity suitors.

PAI acquired Spie from its parent company for €1.04bn in 2006. The Cergy Pontoise-based multitechnical services group - specialised in electrical, mechanical and HVAC engineering, energy, communication networks and railway infrastructure - posted a €3.75bn turnover and €192m EBITDA for 2010.

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