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New Deal


Announced

Completed

SPIE completed the acquisition of a 85% stake in Correll Group.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For85%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Renewable Energy Equipment

Single Bidder

Friendly

Acquisition

Private

United Kingdom

offshore wind services

Cross Border

Majority

Completed

Synopsis

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SPIE, a multi-technical services provider in the areas of energy and communications, completed the acquisition of a 85% stake in Correll Group, an engineering, installation, and maintenance services provider in the offshore wind sector. Financial terms were not disclosed. “The acquisition of Correll Group is a significant milestone for SPIE Oil & Gas Services and its diversification strategy towards renewable energies, in addition to the emblematic contracts previously signed by the Group in the offshore wind sector. Our new name, SPIE Global Services Energy, perfectly highlights this strategic focus and demonstrates the Group's commitment and determination to take a leading role in the global transition towards low-carbon energy,” Christophe Bernhart, SPIE Managing Director of Oil & Gas Services.

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