Alpiq Engineering Services, part of Swiss energy company Alpiq Group, is being acquired by Bouygues Construction and Colas Rail, the rail subsidiary of the Bouygues-owned Colas Group.
Alpiq Engineering Services employs around 7,650 people in total, and reported sales of approximately CHF1.7 billion (€1.45 billion) in 2017, saying this was chiefly generated in Switzerland (57%), Germany (24%) and Italy (12%).
Bouygues said the acquisition positioned Bouygues Construction as a leading player in energy and services in Europe, and was therefore fully in line with its development strategy for this growth market.
It added that through this operation, Bouygues Construction would strengthen its roots in Switzerland in businesses that closely complemented those of its subsidiaries, Bouygues Energies & Services Switzerland, Losinger Marazzi, VSL and PraderLosinger.
Hervé Le Bouc, chairman and chief executive of Colas,said, “This acquisition will enable Colas Rail to develop in the Swiss and Italian markets in particular, and to strengthen its presence in Central Europe and the UK.
“Alpiq’s recognised expertise in railway power supply will supplement Colas Rail’s portfolio of solutions and know-how, and will strengthen its leadership as a leading player in the rail sector.”
The acquisition values Alpiq Engineering Services at CHF850 million (€723.14 million) – CHF700 million (€595.44 million) for Bouygues Construction and CHF150 million (€127.59 million) for Colas Rail.
The deal is expected to be closed in the second half of 2018, subject to the approval of the European and Swiss competition authorities. Bouygues said it would be paying cash for all shares acquired.