- SPIE acquires ROFA Industrial Automation AG, expanding its industrial services in Germany.
- ROFA, based in Bavaria, had 2025 sales of approximately 430 million euros.
- The acquisition is expected to increase adjusted EPS by mid-single-digit in the first year.
- Transaction completion is anticipated in Q2 2026, pending antitrust approval.
Acquisition Overview
SPIE, a leader in multi-technical services, has signed an agreement to acquire ROFA Industrial Automation AG, a key player in industrial automation, conveyor systems, and intralogistics in Germany. This acquisition aims to enhance SPIE's industrial services portfolio in these sectors.
ROFA's Market Position
Based in Kolbermoor, Bavaria, ROFA specializes in factory automation, which constitutes about 80% of its sales, and warehouse and logistics automation, making up the remaining 20%. The company offers comprehensive project lifecycle services, including consulting, engineering, manufacturing, commissioning, and after-sales support. ROFA serves a diverse client base across automotive, logistics, food, pharmaceutical, and healthcare sectors.
Financial Impact
ROFA reported 2025 sales of approximately 430 million euros, maintaining a high-single-digit EBITA margin. The acquisition is expected to result in a mid-single-digit increase in SPIE's adjusted earnings per share from the first year of consolidation. The transaction will be self-financed with minimal impact on SPIE's debt ratio.
Strategic Implications
This acquisition strengthens SPIE's strategic position in the German industrial services market, the largest in Europe. It follows the acquisition of Robur in 2024 and offers opportunities for commercial synergies within a diversified client portfolio. The transaction is expected to complete in the second quarter of 2026, subject to antitrust approval.
