The takeover process, which started last summer, has finally been concluded through exclusive negotiations. This is a major blow to the maintenance sector for the Montpellier group.
It is a (long) process that took more than seven months. On Monday 4 April, the Montpellier group Altrad formalized the acquisition of Endel, the 100% subsidiary of the Engie group, specializing in industrial maintenance and energy services.
This sale is part of a policy of “simplification of service activities”, initiated by the energy giant. A plan with which Mohed Altrad can continue to grow the group he founded almost forty years ago. A strategy that is gaining even more momentum today, despite the crisis.
Indeed, the group has made several acquisitions over the past twelve months, increasing its international turnover by more than a billion euros. Working with a wide range of customers, especially in nuclear power plants, in the fields of petrochemicals, steel, refining, shipbuilding and pharmaceuticals, Endel strengthens its position in industrial maintenance, which has grown into a major activity (74%) .
“All the conditions were in place to run this operation under the best conditions, says Mohed Altrad. I am delighted with this merger: Endel’s businesses are ideally complementary to Altrad’s and our goal is to create value, not only for our clients, but also for our teams, by giving them the means to execute a structured and feasible long-term strategic plan”.
Development of the territorial network
For Ran Oren, co-general manager of the group, “this is an important step: for us this is a large-scale operation”. Integrating the know-how of Endel’s teams, the group is developing its territorial network in France and abroad.
A strategy that must continue
The Altrad group makes no secret of its desire to continue developing through this external growth policy that has enabled it to reach its current size. “In the coming years, the Group will continue to smoothly integrate new businesses, generate value and develop and diversify its portfolio of services and products,” the group explains in a press release. During the presentation of his group’s activities last December, Mohed Altrad made no secret of his ambitions: “to add more than a billion euros by 2022”.