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Tuesday, 26 December 2017

ALTRAN TECHNOLOGIES : Altran sells its US utilities business to the American private investment firm CriticalPoint Capital

ALTRAN TECHNOLOGIES    

Published: 07:30 CET 26-12-2017 /GlobeNewswire /Source: ALTRAN TECHNOLOGIES / : ALT /ISIN: FR0000034639


Press release

 

26.12.2017

 

 

 

Altran sells its US utilities business to the American private investment firm CriticalPoint Capital

 

A transaction supporting  Altran 2020. Ignition in North America, focusing on portfolio optimization, high value activities and targeted build-up strategy

 

Altran has announced today the closing of the sale of its U.S. Power & Industrial Engineering Services Division to an affiliate of CriticalPoint Capital ("CPC"), a private investment firm headquartered in Manhattan Beach, California.

 

Altran's US utilities business provides engineering, design and construction management services to clients during key stages of the asset management lifecycle for energy production and delivery facilities in North America. Headquarted in New Jersey with additional offices in Maryland, Illinois, Massachusetts and North Carolina, Altran Power & Industrial Engineering Services Business Unit is located in close proximity to major power and industrial markets.

 

This activity has been treated as discontinued operation in Altran's financial statements from H1 2017. The discontinuation of this activity should translate into a negative non recurring result from discontinued operation of around €15 million in the Group's financial statements for the full year of 2017, subject to final review of the auditors, that has no impact on the Group result from continued operations.

 

This division employs approximately 120 highly skilled engineers and designers, who have worked on over 2,200 projects for more than 150 clients since 2014.  

 

 

Legal and Financial Information:

Altran advisors:

- Legal: K&L Gates LLP

- Financial: PJ SOLOMON, an affiliate of Natixis

 

CriticalPoint Capital advisors:

- Legal and Legal Due Diligence: Cypress LLP

- Financial and Tax Due Diligence: RKE

 

 

About Altran

As a global leader in Engineering and R&D services (ER&D), Altran offers its clients a new way to innovate by developing the products and services of tomorrow. Altran works alongside its clients on every link in the value chain of their project, from conception to industrialization. For over thirty years, the Group has provided its expertise to key players in the Aerospace, Automotive, Defence, Energy, Finance, Life Sciences, Railway, and Telecom sectors, among others. In 2016, the Altran group generated revenues of €2.120bn. With a headcount of more than 30,000 employees, Altran is present in more than 20 countries.

www.altran.com

 

 

Follow us on Twitter:

 

@Altran #Altran2020

 

 

 

About CriticalPoint Capital

Founded in 2012, CriticalPoint Capital is a private investment firm based in Manhattan Beach, CA. The firm is focused on acquiring companies with long-term value creation opportunities and with management teams that can benefit from patient capital and a thoughtful approach to growth.  CPC's preferred investments are corporate divestitures, companies in a state of transition, and special situations.

 

 

Contacts

 

Altran Group

 

Stéphanie Bia

Group Vice-President Investor Relations

Tel: + 33 (0)1 46 41 72 01

stephanie.bia@altran.com

 

Marine Boulot

Group Vice-President Communications

Tel: + 33 (0)1 46 41 71 73

marine.boulot@altran.com

 

 

CriticalPoint Capital

 

Brad Holtmeier

Partner

Tel: + 1 (310) 321-4400

bholtmeier@criticalpointcapital.com

 

 

 

DISCLAIMER

This press release contains forward-looking statements (as defined in the United States Private Securities Litigation Reform Act, as amended) based upon current management expectations. Numerous risks, uncertainties and other factors (including, risks relating to: government legislation affecting our businesses; competition; our ability to manage rapid technological change in the industries in which we compete; litigation risks, labour issues; unanticipated costs from disposals or restructuring) may cause actual results to differ materially from those anticipated, projected or implied in or by the forward-looking statements. Many of the factors that will determine our future results are beyond our ability to control or predict. These forward-looking statements are subject to risks and uncertainties and, therefore, actual results may differ materially from our forward-looking statements. You should not place undue reliance on forward-looking statements which reflect our views only as of the date of this presentation. We undertake no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.



PR - Altran sells its U.S. Power Industrial Engineering Services Divi



This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of Nasdaq Corporate Solutions clients. Source: Altran Technologies, 54-56 avenue Hoche, Paris FR-75008, France
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