Press Release - SPIE - Completion of the acquisition of OTTO LSE

Cergy, August 16, 2024 – SPIE, the independent European leader in multi-technical services in the areas of energy and communications, announces the acquisition of approximately 87% of Otto Life Science Engineering GmbH in Germany. After the first announcement on July 17^and2024, the approvals from the regulators (including those from the German competition authority) have been received and all conditions precedent have been fully lifted.

OTTO LSE, headquartered in Nuremberg, Bavaria, was founded in 2017 and operates from 6 offices in Germany. The company is a specialist provider of EPC (Engineering, Procurement and Construction) services for pharmaceutical and biotech production facilities and laboratories. OTTO LSE has a unique selling point with its turnkey solutions and has a solid project track record in the industry. The company covers the entire value chain (from planning, design, delivery to requalification) with excellent skills and unique know-how offering high added value solutions in process design, pure media, cleanroom, building technology management, dedicated to a first-class customer base. Operating in a highly dynamic market and focused on high added value solutions, OTTO LSE delivers a very high and recurring level of profitability (above 20% EBITA margin).

The company’s turnover in 2023 was almost €75 million and the company employed approximately 140 highly qualified employees.

With this acquisition, SPIE strengthens its presence in the attractive and dynamic pharmaceutical and biotechnology sectors.