Clifford Chance advises Eiffage on the acquisition in Germany of Salvia Group GmbH

Eiffage, through its subsidiary Eiffage Énergie Systèmes, entered into an agreement to acquire 51% of the share capital of Salvia Group GmbH. Located in the Stuttgart area in Germany, the company covers the entire technical life cycle of buildings and is specialized in electrical, HVAC and energy engineering as well as maintenance. This negotiated transaction will be financed from available cash.

The remaining share capital will be held by the founder of the company with sale and purchase options being notably granted to Eiffage on 29% of the share capital. The current management team remains in place and will contribute to further business development.

The operation consolidates Eiffage’s development strategy in Europe which aims to increase its territorial coverage and strengthen its expertise. It is subject to approval by the European competition authorities and is expected to be completed in early 2024.

Clifford Chance advised Eiffage with a team composed in Paris of Gilles Lebreton, partner, Marine Larrue-Duin, counsel, Camille Welfringer, senior associate, Camille Léger, associate, and Thierry Schoen, senior legal advisor, on the corporate aspects, as well as Katrin Schallenberg, partner, Amélie Lavenir, counsel, and Hendrik Coppoolse, associate, on the antitrust aspects.

Our Munich, Dusseldorf and Frankfurt offices also advised on this deal with a team composed of Nicole Englisch, partner, Sina Schwirz, senior associate, and Max Petzelberger, associate, on the corporate aspects, as well as Dominik Engl, partner, and Cord Freiherr von Mandelsloh, counsel, on the tax aspects.

CMS (Leipzig) advised the sellers.

LPA (Paris) advised Eiffage on due diligence works.