Altrad acquires French engineering specialist
By Euan Youdale04 April 2022
Altrad has confirmed the acquisition of engineering specialist Endel.
Effective from 1 April, the deal has been reached following regulatory approval and consultation with employee representatives.
Endel provides project management and engineering services across a range of major industrial construction projects in France, including nuclear, petrochemical, steel production and shipbuilding for the French Navy.
Altrad said Endel’s employees will be an important asset, as the group continuously seeks qualified and experienced staff. The company added that it will invest in Endel, to develop the skills of its team and its network in France, along with its international activities.
Mohed Altrad, president of Altrad, said, “I am delighted with this new combination; Endel’s activities are highly complementary to those of Altrad and our objective in working together is to create value, not only for our clients but also for our teams, by giving them the means to implement a structured and viable long-term strategic plan.
“Our confidence in this transaction is based first and foremost on Endel’s skilled and qualified employees, for whom we have the utmost respect”.
Ran Oren, Altrad’s co-CEO, added, “Altrad is pleased to welcome Endel within our Group. This is an important step and a major operation for us. We are all very enthusiastic about the idea of being able to build, with the Endel teams, a solid project for a sustainable future, over the long term. Besides, this is one of the most significant steps in Altrad’s evolution in recent years”.
Over the last 12 months, Altrad has completed a significant number of acquisitions, adding over €1 billion to its turnover worldwide. In the coming years, the group said will continue to integrate new companies seamlessly, while generating value and developing and diversifying its portfolio of services and products.