VINCI acquires Faceo and creates VINCI Facilities, European leader in facilities management
29 April 2010 - Acquisitions - United Kingdom
VINCI announces the signature on 29 April 2010 of an exclusivity agreement with APAX Partners SA to acquire Faceo.
Faceo is a major player in Europe’s facilities management* market. The company provides integrated solutions for service sector maintenance, with activities in engineering, systems integration and multi-service and multi-technical maintenance within the framework of multi-year contracts. With 2,500 employees, Faceo generated revenue of €430 million in 2009, of which 30% outside France.
The objective of this transaction is to support and add momentum to the creation within the Energies division of VINCI Facilities, where most of the Group’s facilities management activities will be concentrated. Faceo will contribute, in particular, expertise in providing integrated solutions across a number of sites and countries. It will also provide the ability to respond to the changing requirements of major private and public companies, which are increasingly seeking a comprehensive solution for the maintenance of their service sector infrastructure.
With the integration of Faceo, VINCI’s facilities management business would represent revenue of over €1.3 billion, contributing significantly to the Group’s long-term contract activities that generate recurring revenue streams.
In accordance with legal and regulatory requirements, the project will likely be subject to review by employee representative bodies prior to submission to the appropriate competition authorities.
* The facilities management market evolved as a result of industrial and service sector companies outsourcing their general and building maintenance services to players specialising in integrating and providing those services. Facilities management generally refers to a company providing several services grouped together for a client. It may be “multi-service” (general services) and/or “multi-technical” (management of technical maintenance services: electricity, communications systems, climate control…).
VINCI is a global player in concessions and contracting, employing more than 222,000 peoplein nearly 120 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, above and beyond economic and financial results, we are committed to operating in an environmentally and socially responsible manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. VINCI’s goal is to create long-term value for its customers, shareholders, employees, and partners and for society at large.