Spie acquires ROFA Industrial Automation AG

SPIE, a European leader in multi-technical services, has announced the acquisition of ROFA Industrial Automation AG, a move aimed at strengthening its position within the German market. ROFA, based in Kolbermoor, Bavaria, is an established player in the automation sector, boasting a 2025 revenue of approximately €430 million and a workforce of over 1,200 employees. This acquisition underscores SPIE's strategic aim to enhance its capabilities in industrial automation and intralogistics.

The transaction details reveal that SPIE will assume control of about 99% of ROFA's equity, with the remaining 1% held by ROFA's management team, under buy and sell option mechanisms. The high-single-digit EBITA multiple indicates a sizeable valuation, while the acquisition is expected to contribute mid-single-digit accretion to SPIE's adjusted earnings per share from the outset. The deal is to be self-financed with minimal impact on SPIE's debt ratio, and is slated for completion in the second quarter of 2026, pending regulatory approvals.

ROFA's operations, which encompass a complete project lifecycle from consulting to after-sales services, strategically align with SPIE's German expansion plans, particularly following its acquisition of Robur in 2024. ROFA's diversified client base spans several industries, including automotive, logistics, and healthcare, allowing SPIE to leverage commercial synergies and expand its service offerings in automation solutions.

In the broader context, this acquisition is significant as it consolidates SPIE's foothold in a competitive and growing automation market, marked by increasing demand for integrated and efficient solutions across various sectors. This move is likely to put SPIE in a stronger position relative to its competitors by enhancing its technological capabilities and expanding its operational breadth in Germany.

As the deal awaits approval from antitrust authorities, the focus will be on how SPIE integrates ROFA's operations and whether this acquisition will translate into the projected financial gains and strategic synergies. The outcome will set important precedents for SPIE's future acquisition strategies and market trajectory.