GDF Suez has announced it has acquired German firm Lahmeyer from owners Capiton GmbH through subsidiary company Tractebel Engineering.
In a statement, GDF Suez said the acquisition - valued at an EBITDA multiple slightly below 8 - is a perfect strategic fit for the company to pursue, through Tractebel Engineering, its international development and growth.
The acquisition creates a major player in engineering consultancy specialising in energy and infrastructure. The new combined entity will be able to deliver technical and project management services from a broader platform serving more clients in more markets, particularly Africa, Asia, Europe, Latin America and the Middle East, the company said in a statement.
The transaction is expected to be finalised by the end of 2014 following customary closing conditions and regulatory approvals.