SPIE Announces Acquisition of LTEC Group to Enhance Polish Market Presence
Deal News | Apr 16, 2025 | Globenewswire
SPIE, Europe's independent leader in multi-technical services for the energy and communications sectors, has signed an agreement to acquire LTEC Group, a Polish integrator of building automation and management solutions founded in 2008. LTEC, which had revenues of approximately €19 million in 2024 and employs around 75 professionals, specializes in enhancing energy efficiency, comfort, security, and management of large facilities through advanced automation solutions. The acquisition is expected to bolster SPIE's proficiency in Building Technology and Automation in Poland, allowing it to offer a broader array of services and expand its market position. The transaction is expected to complete in the second quarter of 2025, subject to regulatory approval.
Sectors
- Building Technology and Automation
- Energy and Communications
Geography
- Poland – The acquisition targets LTEC Group, a Polish company, aiming to expand SPIE's market presence in Poland.
- Europe – SPIE, the acquirer, is a leading European entity in multi-technical services, and the transaction enhances its European footprint.
Industry
- Building Technology and Automation – The acquisition centers on enhancing SPIE's capabilities in building technology and automation, essential for modern facility management including energy efficiency and security.
- Energy and Communications – SPIE operates in the energy and communications sectors, driving the decarbonization of the economy and digital transformation.
Financials
- €19 million – LTEC Group's revenue for the year 2024.
- €9.9 billion – SPIE's consolidated revenue for the year 2024.
- €712 million – SPIE's consolidated EBITA for the year 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| SPIE | Buyer | Company | Europe's leading independent provider of multi-technical services in the energy and communications sectors. |
| LTEC Group | Target Company | Company | A Polish integrator specializing in building automation and management solutions, founded in 2008. |
| SPIE Polska | Buyer Assistance | Company | SPIE's Polish division which will be strengthened by the acquisition of LTEC Group. |
| Łukasz Nowiński | CEO | People | CEO of SPIE Polska, commenting on the strategic advantages of the acquisition. |
| Tomasz Szolc | Vice-President, Board of Directors | People | Vice-president of LTEC, highlighting the opportunities presented by joining SPIE. |