GDF SUEZ, via Tractebel Engineering, becomes a leading world player in engineering services through the acquisition of Lahmeyer
GDF SUEZ through its subsidiary Tractebel Engineering today announced the purchase of Lahmeyer, a company based in Germany and owned by Capiton GmbH. Lahmeyer is a leading consultancy engineering company specialised in energy and water infrastructures that generates around 80% of its revenues (135 M€) outside of Europe, namely in Africa, Asia and the Middle East. Lahmeyer enjoys a strong international reputation, capitalising on a deep technical know-how reflected in its long track record as a niche player.
This acquisition – valued at an EBITDA multiple slightly below 8 – is a perfect strategic fit for GDF SUEZ to pursue through Tractebel Engineering its international development and growth. Tractebel Engineering, with a turnover of €470 million is a leading engineering company specialised in energy and smart infrastructure. It will benefit from Lahmeyer’s typical major references: Quarayyah Combined Cycle Power Plant 3800 MW in Saudi Arabia, Power Network Transmission in Abu Dhabi, Ethiopa-Kenia high voltage interconnector, Baglihar Hydro Power Plant 2×450 MW in India …
Typical major references of Tractebel Engineering: Gibe 1800 MW Hydro Power in Ethiopia, Rogun 3600 MW Hydro Power Plant in Tajikistan, Power Developments in Mauritania, LNG terminal in Shanghai, 2800 km high voltage transmission lines in Brazil, coastal flood protection in Ghana, Tihange Nuclear Power Plant long term operation…
The new combination will create a leading world player in consultancy engineering services specialised in energy and infrastructure. With a staff of 4400 experts with local presence in 34 countries its annual revenues will reach €600 million. The new combined entity will be able to deliver technical and project management services from a broader platform thus serving more clients in more markets, especially in Africa, Asia, Europe, Latin America and the Middle East.
As stressed by Jérôme Tolot, CEO of the Energy Services business line of GDF SUEZ, «This acquisition is fully in line with the Group strategy to further develop the energy services business on a broad international scale. The resulting stronger engineering resources will also reinforce the Group for the development of new projects worldwide».
Finalisation of the transaction will take place before year end 2014 following customary closing conditions and regulatory approvals.
With about 3,000 staff around the world, Tractebel Engineering (GDF SUEZ) is one of the world’s major specialized engineering companies. Tractebel Engineering offers state-of-the-art engineering and consulting solutions to power, nuclear, gas, industry and infrastructure customers in the public and private sector. Tractebel Engineering is part of GDF SUEZ Energy Services, one of the business lines of GDF SUEZ. (www.tractebel-engineering-gdfsuez.com)
GDF SUEZ develops its businesses (power, natural gas, energy services) around a model based on responsible growth to take up today’s major energy and environmental challenges: meeting energy needs, ensuring the security of supply, fighting against climate change and maximizing the use of resources. The Group provides highly efficient and innovative solutions to individuals, cities and businesses by relying on diversified gas-supply sources, flexible and low-emission power generation as well as unique expertise in four key sectors: independent power production, liquefied natural gas, renewable energy and energy efficiency services. GDF SUEZ employs 147,200 people worldwide and achieved revenues of €81,3 billion in 2013. The Group is listed on the Paris, Brussels and Luxembourg stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe and Euronext Vigeo (World 120, Eurozone 120, Europe 120 and France 20).
Lahmeyer is an international leading multi-disciplinary consulting engineering and project management services group with a clear focus on the global megatrends energy and water. Founded in 1890 in Frankfurt with headquarter in Bad Vilbel near Frankfurt, has subsidiaries in 19 countries and has around 1400 staff. Lahmeyer has a longstanding customer relationship with utilities, financing institutions, development banks and industrial conglomerates. (www.lahmeyer.com)