SPIE Acquires LÜCK Group
Baker McKenzie advised SPIE, the independent European leader in multi-technical services in the areas of energy and communications, on its acquisition of LÜCK Group.
The purchase agreement was signed with the current shareholders - HANNOVER Finanz Group as well as Udo and Ingo Lück - on April 13th, 2017. The transaction is expected to close by the end of May 2017, subject to the approval of German antitrust authorities.
With the acquisition of the Lück Group, SPIE will expand its mechanical and electrical services capabilities in Germany, while further densifying its network and strengthening its position as a major technical services provider in this country.
Baker McKenzie comprehensively advised SPIE on legal matters of the transaction which was structured as a share deal.
"With this transaction our client wins a platform which allows it to significantly expand its mechanical and electrical services capabilities. We are delighted to have worked closely with our client to bring the transaction to a successful signing", comments Dr. Ingo Strauss, Corporate/M&A-partner at Baker McKenzie, who led the transaction.
Established in 1965 and headquartered in Lich-Langsdorf and Gießen, Lück Group is a provider of holistic building technology services with a strong focus on data centre solutions. The company provides a complete range of services, from design and consulting, through installation and maintenance of HVAC, electro-technical, security and communication solutions. With 1,000 employees working from 18 locations in 6 German Federal States (Bundesländer), Lück Group generated a production of approximately €130 million in 2016.
As the independent European leader in multi-technical services in the areas of energy and communications, SPIE supports its customers to design, build, operate and maintain energy-efficient and environmentally-friendly facilities. With 38,000 employees working from close to 600 sites in 38 countries, SPIE achieved in 2016 consolidated revenues of €5.1 billion and consolidated EBITA of €352 million. The segment 'Germany and Central Europe' with 6.500 employees and over 90 offices generated a revenue of €927 million.
Baker McKenzie regularly advises clients on cross-border transactions and reorganizations. Most recently the team advised Grünenthal Gruppe on its acquisition of Adhesys Medical GmbH, Flowserve Corporation on the sale of the Gestra-Gruppe, ZF Friedrichshafen AG on the sale of the Cherry Group, the owners of Fragrance Resources on the sale of its fragrance business to International Flavors & Fragrances, Inc., GFKL on the acquisition of Tesch Group, CORESTATE on its acquisition of Hannover Leasing, Heraeus Group on the sale of the global high-performance target materials business to the US-based Materion Group, MAGNA International on its acquisition of the Böddecker & Co. GmbH & Co. KG, Dassault Systèmes on the acquisition of the CST group, Sulzer on the takeover of the GEKA group of 3i, Deutsche Beteiligungs AG on its participation in Reinhold & Mahla-Group, RWE and E.ON on the sale of their shares in the Luxembourg energy supplier Enovos, HITACHI Koki on the acquisition of Metabo AG and Barry-Wehmiller group on the acquisition of the operations of Winkler+Dünnebier GmbH.
Legal advisors to SPIE:
Lead: Corporate/M&A: Dr. Ingo Strauss (partner, Düsseldorf)
Team: Corporate/M&A: Dr. Heiko Gotsche (partner, Düsseldorf), Lena von Richthofen (associate, Düsseldorf), Cosima König (associate, Düsseldorf)
Real Estate: Dr. Florian Thamm (partner, Frankfurt), Dr. Daniel Bork (associate, Düsseldorf)
Commercial & Trade: Dr. Johannes Teichmann (partner, Frankfurt), Dr. Philipp Schütt (senior associate, Düsseldorf)
Banking & Finance: Dr: Oliver Socher (partner, Frankfurt), Silke Fritz (associate, Frankfurt)
IP: Dr. Michael Fammler (partner, Frankfurt), Andreas Jauch (associate, Frankfurt)
IT: Dr. Holger Lutz (partner, Frankfurt), Dr. Tobias Born (associate, Frankfurt)
Employment: Dr. Burkard Göpfert (partner, Munich), Jan-Philipp Brune (associate, Munich)
Pensions: Dr. Christian Reichel (partner, Frankfurt), Dr. Anna Verena Böhm (senior associate, Frankfurt)
Tax: Christoph Becker (partner, Frankfurt), Ariane Schaaf (associate, Frankfurt)
Public Law: Dr. Katharina Weiner (counsel, Düsseldorf), Dr. Stephan Götze (counsel, Berlin), Dr. Ilya Levin (associate, Berlin)