Spie announces that it has signed an agreement to acquire around 92% of ICG Group, a leading German turnkey service provider in telecom infrastructure (for fiber network and 5G mobile telecommunications).

Deploying its expertise throughout Germany with around 720 highly qualified employees, this company generated sales of around €230 million in 2023 with margin levels in excess of 10%.

The transaction multiple is 9.1 times EBITA 2023 and 7.5 times EBITA expected in 2024. Spie expects to finalize the transaction in the second quarter of 2024, subject to the usual conditions precedent, including approval by the competition authorities.

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