Spie batignolles is a leading French player in construction, civil engineering, energy, public works, property development and concessions.
Spie batignolles has shown resilience during the global financial crisis and Equistone has worked in partnership with the management team to develop the business by:
- Supporting the acquisition of Eurelec, a specialist in electrical installations with sales of €100m. This acquisition enabled Spie batignolles to develop multi-technical maintenance contracts.
- Enabling Spie batignolles to further its expansion programme with the acquisition of Fontelec, electrical installation providers and Valérian, construction and land development.
Taking advantage of the company’s strong growth and cash generation, Equistone was able to refinance the business, once in March 2006 and again in October 2007, both of which locked in a strong return for Fund I.
In September 2014, Equistone sold the remaining 20% share of its Fund I investment in Spie batignolles to Ardian. In acquiring the company, Ardian has become the new financial partner to the management team who control the company.
I would also like to thank Equistone, for their unwavering support for more than 10 years.