French engineering group SPIE plans late-2014 IPO
French electrical and mechanical engineering group SPIE is reportedly considering a stock market listing in late 2014. Financial terms of the deal, however, were not disclosed.
Reuters, citing a report by French financial daily Les Echos, said that SPIE's shareholders were studying an initial public offering for the company and were likely to decide in the first quarter. SPIE's owners include private equity firms Ardian, Clayton Dubilier & Rice LLC and Quebec's Cassie de depot et placement.
SPIE provides mechanical and electrical engineering services to help companies and the public sector make facilities more energy-efficient. It has 30,200 employees in 31 countries, the report said.
SPIE posted sales of €4.217 billion ($5.77 billion) last year. It had earnings before interest, tax, depreciation and amortization (EBITDA) of €242.9 million during the same period, Reuters said.
SPIE's main competitors in France include energy services market leader and GDF Suez unit Cofely, Veolia and EDF joint venture Dalkia, Vinci Energies and Sodexo, the report said.