VINCI completes the acquisition of Faceo and creates VINCI Facilities
Following consultation with the respective employee-representative bodies of the two companies and obtaining the agreement of the competition authorities, VINCI completed today the acquisition of Faceo from Apax Partners.
Faceo is a major European player in facility management* whose offering includes the design, integration and provision of multi-technical and maintenance services under multi-year contracts. Faceo, which has 2,500 employees, had revenues in 2009 of 430 million Euros, 30% of which were generated internationally.
This acquisition has been made through VINCI Facilities, a newly-established company within VINCI’s Energies business line, set up to group together the bulk of the company’s facility management businesses.
VINCI, working alongside its local service providers, plans to respond the growing demand from its major public and private customers, who, anxious to optimise quality and costs, want to have a single operator handling the design and control of the technical maintenance and services supplied to the occupants of their business premises. In this context, Faceo will provide its unique expertise as a multi-site, multi-country, integrator on behalf of major multinational companies.
VINCI Facilities will also enable the company to enhance its offer of services on major PPP projects in the services sector.
With Faceo now part of the company, VINCI’s facility management businesses should generate recurring revenue of over 1.3 billion Euros on an annual basis.
The acquisition of Faceo is an all-cash transaction, and its financial results will be consolidated by VINCI beginning 1 August 2010. The operation should enhance earnings as from 2011.
∗ The facility management market has been created in response to the desire by companies to outsource the technical maintenance and general services for their manufacturing sites and service premises. Specialist players have grown up in this market by gradually integrating all the required skills. Facility management generally consists of a company grouping together and providing several different services to its client. One also talks of multi-services (general services) and multi-technical services (the management of different technical areas: electricity, communications, air conditioning, etc.).