Baker McKenzie advises the European market leader on the acquisition of the company specializing in electric, measurement, control and regulation technology
SPIE Deutschland & Zentraleuropa GmbH takes over Christof Electrics, thereby significantly expanding its presence in Austria. Christof Electrics GmbH & Co KG has operations in Vienna and Enns and offers complete solutions in the area of electric, measurement, control and regulation technology as well as automation. With this step, the Christof Group completely withdraws from the area of electric, measurement, control and regulation technology.
With around 150 employees, the division Christof Electrics generated a turnover of approx. 36 million euros in 2018. The customer base comprises companies from a wide range of industries, from the energy industry to the public sector. Christof Electrics has also been in charge of installing the switchgear within the scope of the refurbishment of the Vienna subway.
SPIE Deutschland & Zentraleuropa is a subsidiary of the publicly listed SPIE Group and operates from over 200 locations in Germany, Austria, Poland, the Czech Republic, Slovakia and Hungary. SPIE, headquartered in Cergy, France, is a European market leader for technical services in the energy and communications areas. SPIE Deutschland & Zentraleuropa specializes in multi-technical services for buildings, facilities and infrastructures.
The international law firm Baker McKenzie advised SPIE on the acquisition of Christof Electrics. At the end of March, the contracts were signed. Upon clearance by the antitrust authorities, the transaction was announced to the public on May 9. The purchase price was kept confidential.
Particularly challenging was the tight time frame that had been set for the transaction. In addition, the issues arising in connection with a carve-out from a group had to be resolved.
With this transaction, Baker McKenzie reinforces its reputation as expert in cross-border transactions.