Groupe Gorgé finalizes the sale of Cimlec group

  • Date: 9 Jul 2019

Groupe Gorgé today announces the closing of the sale of 100% of Cimlec and its subsidiaries (Cimlec group) to SPIE.

The Cimlec group is a specialist in robotic, electrical and automation solutions. The group generated in 2018 revenue of €42 million. This long-standing business of Groupe Gorgé offered fewer synergies with the Group’s other businesses. Joining SPIE will enable the Cimlec group to develop and integrate SPIE’s strategy to develop services for industry.

The disposal capital gains will increase net income for the 2019 financial year by more than €20 million.

This operation, in addition to the reorganization of the capital of the Fire Protection France business announced on June 25, are resulting from the group’s strategy to focus its human and financial resources on technological activities in which the group recorded significant successes.

The important financial resources generated by these two operations (more than €33 million in cash) may be allocated to the development of new technological activities. Alternatively, they could also be used to strengthen the control of the robotics or 3D printing activities depending on market conditions.