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
website
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

website

Category Company
Founded 1900
Sector Engineering
Employees45,851
Revenue 8.1B EUR (2022)
DESCRIPTION

SPIE is a provider of multi-technical contracting services in France providing electrical, heating ventilation and air conditioning servicing and mechanical engineering to a wide range of end markets. SPIE was founded in 1900 and is based in Cergy-Pontoise, France.

DEAL STATS #
Overall 10 of 10
Sector (Communications) 1 of 1
Type (Add-on Acquisition) 9 of 9
Country (Germany) 3 of 3
Year (2024) 2 of 2
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 -

Seller(S) 1

SELLER

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1993
PE ASSETS 57.0B 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 - $500 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 152 of 152
Sector (Communications) 3 of 3
Type (Add-on Acquisition) 65 of 65
Country (Germany) 8 of 8
Year (2024) 2 of 2
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 GmbH offers worldwide customized solutions for all bus climate control issues for the new approach means the best possible safety and comfort of air - the bus operators for optimum vehicle performance.

Buy -
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