Press release – SPIE – Completion of the acquisition of OTTO

Cergy, 16 August 2024 – SPIE, the independent European leader in multi-technical services in the energy and communications sectors, announces the completion of the acquisition of approximately 87% of Otto Life Science Engineering GmbH in Germany. After the first announcement on July 17^th2024, the regulatory approvals (including the German antitrust authority) have been obtained and all conditions precedent have been fully lifted.

OTTO LSE, headquartered in Nuremberg, Bavaria, was founded in 2017 and operates 6 offices across Germany. The company is a specialized provider of EPC (Engineering, Procurement and Construction) services for pharmaceutical and biotechnology production plants and laboratories. OTTO LSE has a unique selling point with its turnkey solutions and a solid project track record in this sector. The company covers the entire value chain (from planning, construction, delivery to requalification) and has outstanding skills and unique know-how to provide high added value solutions in the areas of process design, clean media, cleanroom and building technology management, targeting a first-class customer base. OTTO LSE operates in a very dynamic market and focuses on high added value solutions. The company offers very high and recurring profitability (over 20% EBITA margin).

The company's turnover in 2023 amounted to almost 75 million euros and the company employed around 140 highly qualified employees.

With this acquisition, SPIE is strengthening its presence in the attractive and dynamic pharmaceutical and biotech sectors.

• Press release – SPIE – Completion of the acquisition of OTTO LSE