London-based project management and services company Amec is selling its Building and Facilities Services (BFS) business to French multi-technical services provider SPIE for £ 117 mln (EUR 172 mln) in cash. The acquisition should complete by mid-September, once the process of informing and consulting with employees' representative bodies in France and the UK has been concluded.
London-based project management and services company Amec is selling its Building and Facilities Services (BFS) business to French multi-technical services provider SPIE for £ 117 mln (EUR 172 mln) in cash. The acquisition should complete by mid-September, once the process of informing and consulting with employees' representative bodies in France and the UK has been concluded.
Amec’s BFS division was formed when Matthew Hall became part of the company in 1988, but the Matthew Hall name continues to be recognised in its UK markets. SPIE therefore plan to conduct its business in the UK under the SPIE Matthew Hall name. The company will provide clients with multi-technical engineering services from initial design, through mechanical and electrical installation services, to long-term facilities management.
The BFS division management team is remaining with the business, and its leader Grahame Ludlow will become CEO of SPIE Matthew Hall. The business has more than 2,300 employees working on more than 200 contracts, and generated an operating profit of around EUR 15 mln on sales of nearly EUR 500 mln in 2006.
