- Date: 20 Jun 2019
Groupe Gorgé has entered into exclusive negotiations with SPIE to sell the Cimlec group, a subsidiary of the Protection of High-Risk Installations division. Cimlec and its subsidiaries have 310 employees. In 2018, the divested scope generated revenue of around €42 million.
Cimlec is a long-standing subsidiary of Groupe Gorgé, specialist in design, manufacturing, installation and maintenance of robotic, electrical and automation solutions. Its businesses offered fewer synergies with the Group’s other businesses, which have evolved significantly over recent years.
Cimlec group’s expertise would strengthens the areas of development of SPIE, which has identified strong complementarities with Cimlec. This planned disposal should bolster the company’s growth, and all sites and employees will be integrated in SPIE’s strategy to develop services for industry.
Groupe Gorgé and SPIE aim to complete the contemplated transaction by July 2019, after having obtained the opinion of employee representative bodies.
This potential disposal would have a significant impact on Groupe Gorgé’s financial statements. The disposal capital gains would increase net income for the 2019 financial year by more than €20 million.