SPIE : announces the acquisition of MBG energy GmbH in Germany

Cergy, March 27^th, 2024 -SPIE, the independent European leader in multi-technical services in the areas of energy and communications, announces the signature of an agreement to acquire c.75% of MBG energy GmbH in Germany.

MBG energy GmbH is a provider of engineering, procurement and construction (EPC) services for the photovoltaic roll-out mainly for rooftop installation on buildings in North-Eastern Germany. The company, headquartered in Berlin, was founded in 2018 and employs 47 employees. The company generated a revenue of approximately 15 million euros in 2023.

With this acquisition, SPIE will strengthen its position in the fast-growing photovoltaic roll-out market and gain competences in that field in a context of the adoption by the European legislators of the EU Solar Standard within the European Performance of Buildings Directive. This legislation is set to require solar installations on buildings across the European Union. The acquisition of MBG energy GmbH will also provide with potential commercial synergies with the existing Technical Facility Management segment of SPIE in Germany.

The management team of MBG energy GmbH comprises the founders who will join SPIE's team to further develop the business and they will stay as minority shareholders. Thus, SPIE acquires c.75% of the share capital, while the remaining c.25% shareholding will be retained by the current management team. The agreement includes put and call mechanisms related to the c.25%.