French engineer Eiffage has agreed to buy German infrastructure company Eqos, which specialises in energy networks, telecoms and rail.
Last year, Eqos had revenues of €459m, and it has some 1,700 staff at 43 sites, mainly in Germany and Austria.
The acquisition will expand Eiffage’s penetration of the German market, which is growing fast as the country restructures its energy generation, transmission and distribution sectors.
The deal will be financed with cash, and is expected to be finalised before the end of the year.
Eiffage aims to make the purchase through its subsidiary, Eiffage Énergie Systèmes, which already operates in Germany.
It has four subsidiaries with around 3,000 employees and revenues of €630m last year.
Eiffage is also present in Germany with Eiffage Génie Civil and Eiffage Métal, which have a combined revenue of over €1.5bn.
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