SPIE Acquires 85% Stake in Correll Group
December 7, 2023
French multi-technical services group SPIE will acquire 85% of Correll Group, a UK-based specialist in electrical engineering, installation and maintenance for the offshore wind sector. The deal expands SPIE Oil & Gas Services' footprint in offshore wind (it will be renamed SPIE Global Services Energy) and is expected to close in January 2024; Correll will retain 15% with management and contributes ~€55m revenue and c.109 employees plus 500+ contractors (2023).
- Buyers
- SPIE (through SPIE Oil & Gas Services / SPIE Global Services Energy)
- Targets
- Correll Group
- Industry
- Energy
- Location
- North Yorkshire, United Kingdom
- Transaction Type
- Buyout
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