| Press release |
| 26.12.2017 |
| |
Altran sells its US utilities business to the American private investment firm CriticalPoint Capital
A transaction supporting Altran 2020. Ignition in North America, focusing on portfolio optimization, high value activities and targeted build-up strategy
Altran has announced today the closing of the sale of its U.S. Power & Industrial Engineering Services Division to an affiliate of CriticalPoint Capital ("CPC"), a private investment firm headquartered in Manhattan Beach, California.
Altran`s US utilities business provides engineering, design and construction management services to clients during key stages of the asset management lifecycle for energy production and delivery facilities in North America. Headquarted in New Jersey with additional offices in Maryland, Illinois, Massachusetts and North Carolina, Altran Power & Industrial Engineering Services Business Unit is located in close proximity to major power and industrial markets.
This activity has been treated as discontinued operation in Altran`s financial statements from H1 2017. The discontinuation of this activity should translate into a negative non recurring result from discontinued operation of around €15 million in the Group`s financial statements for the full year of 2017, subject to final review of the auditors, that has no impact on the Group result from continued operations.
This division employs approximately 120 highly skilled engineers and designers, who have worked on over 2,200 projects for more than 150 clients since 2014.
Legal and Financial Information:
Altran advisors:
- Legal: K&L Gates LLP
- Financial: PJ SOLOMON, an affiliate of Natixis
CriticalPoint Capital advisors:
- Legal and Legal Due Diligence: Cypress LLP
- Financial and Tax Due Diligence: RKE
About Altran
As a global leader in Engineering and R&D services (ER&D), Altran offers its clients a new way to innovate by developing the products and services of tomorrow. Altran works alongside its clients on every link in the value chain of their project, from conception to industrialization. For over thirty years, the Group has provided its expertise to key players in the Aerospace, Automotive, Defence, Energy, Finance, Life Sciences, Railway, and Telecom sectors, among others. In 2016, the Altran group generated revenues of €2.120bn. With a headcount of more than 30,000 employees, Altran is present in more than 20 countries.
www.altran.com
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About CriticalPoint Capital
Founded in 2012, CriticalPoint Capital is a private investment firm based in Manhattan Beach, CA. The firm is focused on acquiring companies with long-term value creation opportunities and with management teams that can benefit from patient capital and a thoughtful approach to growth. CPC`s preferred investments are corporate divestitures, companies in a state of transition, and special situations.