SPIE Expands in Poland with LTEC Acquisition
Deal News | Apr 16, 2025 | Globenewswire
SPIE, a leading player in European multi-technical services, announced its plans to acquire LTEC Group in Poland, a company specializing in building automation and management solutions. This acquisition, expected to be finalized in the second quarter of 2025, aims to enhance SPIE's capabilities in building technology and automation, as well as broaden its service offerings in the Polish market. Established in 2008, LTEC Group focuses on advancing energy efficiency and management of installations in facilities such as offices, hotels, shopping centers, and hospitals. The deal aligns with SPIE's strategic goal of expanding its position in Poland’s building solutions sector and is subject to regulatory approval.
Sectors
- Building Automation and Management Systems
- Multi-Technical Services
Geography
- Poland – The geography of the acquisition as LTEC Group is based in Poland, indicating a strong geographical focus of SPIE on expanding in this specific market.
Industry
- Building Automation and Management Systems – This industry involves the technology for automated control of a building's systems, which is essential to the LTEC Group's operations and the focus of SPIE's strategic expansion.
- Multi-Technical Services – This sector provides a wide range of technical services, including energy management and communications, indicating SPIE's broad service applicability in energy and communication sectors.
Financials
- c.19 million – Revenue generated by LTEC in 2024, reflecting the target company's financial performance.
- 9.9 billion – Consolidated revenue achieved by SPIE in 2024, indicating the acquiring company's scale.
- 712 million – Consolidated EBITA for SPIE in 2024, illustrating operational profitability.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| SPIE | Acquiring Company | Company | Independent European leader in multi-technical services in the areas of energy and communications. |
| LTEC Group | Target Company | Company | A Polish company specializing in building automation and management systems. |
| ukasz Nowiski | CEO of SPIE Polska | People | Leader overseeing SPIE's operations and strategic expansion in Poland. |
| Tomasz Szolc | Vice Chairman of the Board of LTEC | People | Executive at LTEC contributing to the strategic direction and integration with SPIE. |
| Office of Competition and Consumer Protection | Regulatory Authority | Government | The Polish regulatory body responsible for approving antitrust aspects of the acquisition. |