SPIE signs an agreement for the acquisition of the company Hartmann Elektrotechnik in Germany

- Strengthening market position in Germany as a leading multi-technical
   services provider

- Enlarging and deepening business activities in the field of ICT and
   Mechanical & Electrical services, mainly for industrial German-based
   customers

Essen, 14 December 14, 2015 - SPIE GmbH, a fully owned subsidiary of SPIE Group, the European leader in multi-technical services in the area of energy and communications, has signed a share purchase agreement for the acquisition of 100% of Hartmann Elektrotechnik GmbH on December 11, 2015. With this acquisition SPIE pursues its pan-European growth strategy and strengthens its offering and local presence in Germany.

Hartmann Elektrotechnik was founded in 1945 in Hamburg. With more than 300 highly qualified employees operating from 6 locations across Germany, the company achieved sales of c. €36m in 2014.

Hartmann Elektrotechnik provides a wide range of ICT and Mechanical & Electrical services including Network, Automation, Security technologies and Industrial engineering and services – from consulting and design to planning, configuration, installation, commissioning and service. Hartmann Elektrotechnik has a broad and long-lasting customer base of well-known industrial players, particularly in the automotive, aerospace and petrochemical industries.

Markus Holzke, Managing Director of SPIE GmbH said: “After the takeover of the Fleischhauer Group in 2014, the acquisition of Hartmann Elektrotechnik is the next step for further deployment of the proven and successful SPIE business model in Germany, and the consistent continuation of our bolt-on M&A strategy. With the expertise and offering of Hartmann Elektrotechnik we expand our industrial customer base consistently while strengthening our local presence on site.”

Willi Neumann, Managing Partner of Hartmann Elektrotechnik GmbH, explains: “I am very pleased to join SPIE, a responsible and reliable partner for our customers, business partners and employees. Especially the perspective for my employees within the SPIE Group and the common future-oriented development of our business have always been my personal request.”

The acquisition remains subject to the approval from the German antitrust authorities and is expected to be completed in early January 2016.

Back on October 16^th, 2015, SPIE GmbH had completed the acquisition of Cromm & Co GmbH, a specialist in communications, data networks and fiber optic installation and services. Based in Karlsruhe, Cromm & Co GmbH generated c. €1.1m revenues in 2014.