M&A Deal Summary

SPIE Acquires ICG

On March 11, 2024, SPIE acquired communications company ICG from H.I.G. Private Equity

Acquisition Highlights
  • This is SPIE’s 1st transaction in the Communications sector.
  • This is SPIE’s 3rd transaction in Germany.

M&A Deal Summary

Date 2024-03-11
Target ICG
Sector Communications
Buyer(s) SPIE
Sellers(s) H.I.G. Private Equity
Deal Type Add-on Acquisition

Target

ICG

Leonberg, Germany
ICG builds complex FTTx networks on behalf of public and private German network operators. ICG is based in Leonberg, Germany.

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Buyer(S) 1

Buyer

SPIE

Cergy-Pontoise, France

Category Company
Founded 1900
Sector Engineering
Employees45,851
Revenue 8.7B EUR (2023)
DESCRIPTION

SPIE provides multi-technical contracting services in France and offers electrical, heating ventilation, air conditioning servicing, and mechanical engineering to end markets. SPIE was founded in 1900 and is based in Cergy-Pontoise.


DEAL STATS #
Overall 10 of 16
Sector (Communications) 1 of 1
Type (Add-on Acquisition) 9 of 15
Country (Germany) 3 of 4
Year (2024) 2 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-03 J.D. Euroconfort

Cesson-Sévigné, France

J.D. Euroconfort provides a range of services (from design to installation and maintenance) in refrigeration, air conditioning, and professional kitchens to a loyal client base from different sectors such as luxury, healthcare, retail, defense and local authorities. J.D. Euroconfort was founded in 1994 and is based in Cesson-Sévigné, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-17 Otto LSE

Nurnberg, Germany

Otto LSE is a specialized provider of EPC services (engineering, procurement, and construction) for pharmaceutical and biotech production facilities and laboratories. The company covers the entire value chain (from planning, designing, and delivering to re-qualifying) by providing value solutions in process design, pure media, clean room, and building technology management. Otto LSE is based in Nurnberg, Germany.

Buy -

Seller(S) 1

SELLER

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital LLC. The firm focuses on management buyouts, growth equity investments, and recapitalizations of middle market companies with an enterprise value of $50 - $1000 million. The Firm also will consider add-on acquisitions, industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 and has offices in Miami, Atlanta, Boston, and San Francisco. HIG's European affiliate is HIG Europe with offices in London, Hamburg, and Paris.


DEAL STATS #
Overall 167 of 176
Sector (Communications) 3 of 3
Type (Add-on Acquisition) 70 of 72
Country (Germany) 9 of 9
Year (2024) 2 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-01 Cardinal Logistics

Concord, North Carolina, United States

Cardinal Logistics is a third-party logistics, transportation, and supply chain solutions provider. Cardinal Logistics unique approach to outsourcing combines dedicated shipping resources with extensive industry expertise and the most advanced logistics technology to help companies maximize their supply and demand chains. Cardinal Logistics was founded in 1997 and is based in Concord, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-14 Spheros

Gilching, Germany

Spheros is engaged in the development and manufacture of air conditioning systems, heaters, coolant pumps, and other related hardware. Spheros offers tailored solutions for all passenger buses and coaches (both conventional and electric), as well as refrigerated transportation fleets. Spheros was founded in 1956 and is based in Gilching, Germany.

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