French construction group Bouygues and its Colas Rail subsidiary have bought Swiss energy firm Alpiq Engineering Services, which specialises in hard and soft services in construction, and in energy, industrial and transport infrastructures.
The full deal is based on an enterprise value of $858m, and includes the acquisition of all shares in its two main elements, Alpiq InTec, based in Zurich, and Kraftanlagen, based in Munich.
Alpiq InTec and Kraftanlagen have a combined workforce of 7,650, with sales of $1.72bn in 2017, mainly in Switzerland and Germany.
Bouygues says the merger will position the firm as a "leading player in energy and services in Europe", in line with its development strategy.
Colas Rail will use Alpiq’s expertise in the field of catenaries, a high value business.
Acquisition negotiations began in March 2018.
Image courtesy of Colas