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

Ein Business-Meeting (Symbolbild). © gilaxia / E+ / Getty Images

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

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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 on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ALTRAN TECHNOLOGIES via Globenewswire

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