Neil Faba
The Caisse de dépôt et placement du Québec, in partnership with private equity firms Clayton, Dubilier & Rice (CD&R) and AXA Private Equity, has finalized the acquisition of France-based SPIE, a multi-technical services company, from PAI partners.
The transaction was first announced in May 2011, for €2.1 billion. CD&R-managed funds invested approximately €510 million in the transaction. AXA Private Equity and Caisse de dépôt et placement du Québec each invested approximately €140 million.
SPIE specializes in electrical, mechanical and HVAC contracting services, as well as oil and gas, nuclear and communications network services. In 2010, SPIE generated operating profit on ordinary activities of €192.3 million on turnover of €3.75 billion.