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DC Advisory acts as the exclusive financial advisor to SPIE on the acquisition of SGS Industrial Services

Background

  • Founded in 2003, SGS Industrial Services is a leading provider of industrial services, headquartered in Dorf an der Pram, Austria
  • SGS has strong industry expertise across multiple sectors, particularly in energy and logistics, and has a diversified, long-standing client base
  • In 2025, SGS generated approximately €180m in revenue with margins over 10% and approximately 800 highly qualified employees
  • SPIE SA is an independent European leader in multi-technical services for energy and data transmission. Listed on NYSE Euronext Paris, SPIE achieved consolidated revenues of €10.4bn and consolidated EBITA of €793m in 2025

Process

  • DC Advisory was exclusively engaged by SPIE to provide buy-side advice on the acquisition of SGS
  • DC Advisory managed multiple workstreams, including due diligence oversight, providing strategic advice on transaction structuring, and supporting the preparation of transaction documentation
  • By combining specialized sector knowledge with a rigorous approach to stakeholder management, DC Advisory navigated transaction complexities to bridge divergent interests and drive a value-accretive outcome for SPIE

Outcome

  • The transaction is expected to be completed in Q2 2026 and is subject to antitrust approval
  • Following the completion of the transaction, SPIE will acquire 100% of the share capital
  • The acquisition is intended to strengthen SPIE's position in industrial services and broaden its value chain, particularly in electrical and mechanical installation for power facilities and industrial plants
  • Building on the recent integration of Robur and the announcement for the signing of the acquisition of ROFA Industrial Automation, this acquisition creates cross-selling potential within SPIE’s existing industrial customer base
  • This transaction further demonstrates DC Advisory’s strong track record of providing comprehensive and tailored buy-side advice to companies in the Industrials sector

“We are excited to welcome SGS and are eager to explore further joined opportunities. Special thanks again to the DC Advisory team for their excellent advice and relentless efforts.”

Stefan Winkler, Lead M&A, SPIE GSA

“A deal driven by strong synergy potential and of high strategic value. This marks our second successful transaction with SPIE in 2026, highlighting our experience within the industrial services segment and our capabilities to provide the right advice resulting in recurring business with our clients.”

Matthias Fritzsche, Executive Director, DC Advisory
Date
Sectors
  • Industrials
Deal type
  • M&A Advisory
Deal locations
Austria
Deal team
CEO, DC Advisory Germany & Head of DACH & CEE
Managing Director
Director
Vice President
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Disclaimer

For more information, please see our transaction disclaimer

For important information regarding testimonials, please see our disclaimer.

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