VINCI Energies acquires EITECH group
VINCI Energies acquires EITECH group, one of the leading specialists in electrical works and engineering for industry, infrastructures and buildings in Sweden.
VINCI Energies, the VINCI subsidiary specialising in energy and information and communication technology services (ICT), has reached an agreement with the shareholders to acquire EITECH. The agreement covers acquisition of all the shares.
With a turnover of 200 M€, EITECH founded in 1994 by Rolf Tannergård, is today one of the leading specialists in electrical works and engineering for industry, infrastructures and buildings in Sweden. The Company delivers complete projects and solutions to ongoing maintenance services within electrical installations and engineering. EITECH has 1,200 employees in Sweden and a strong local presence with 26 locations, from Malmö in the south to Kiruna in the north.
After the acquisition of Infratek, announced last week, the acquisition of EITECH, which is full complementary, will boost the position of VINCI Energies in the Nordic Countries. With more than 3 500 employees and a turnover above 650 M€, VINCI Energies becomes a major player in this dynamic European area.
This acquisition, like Infratek’s one, is subject to the approval of Swedish competition authority,
VINCI Energies Chairman and Chief Executive Officer Yves Meignié said “With this acquisition, following Infratek and Horlemann last week, VINCI Energies is continuing to extend and consolidate its operations in Northern Europe, particularly in Sweden where we believe EITECH will bring us a very nice extension of our footprint specially in buildings, industry and infrastructure activities “.
Since the beginning of this year, VINCI Energies has acquired 24 companies, representing around 1200 M€ of turnover.
About VINCI Energies
In a world undergoing constant change, VINCI Energies focuses on connections, performance, energy efficiency and data to fast-track the rollout of new technologies and support two major changes: the digital transformation and the energy transition. With their strong regional roots and agile organisational structure, VINCI Energies’ business units boost the reliability, safety and efficiency of energy, transport and communication infrastructure, factories and buildings.
2016: €10.2 billion revenue // 64,500 employees // 1,600 business units // 52 countries
VINCI is a global player in concessions and construction, employing more than 183,000 people in some 100 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, above and beyond economic and financial results, we are committed to operating in an environmentally and socially responsible manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. VINCI’s goal is to create long-term value for its customers, shareholders, employees, and partners and for society at large.
Link to press release on Vincis website https://www.vinci.com/vinci.nsf/en/press-releases/pages/20171108-0830.htm