SPIE has acquired Correll Group

Correll Group

Correll Group, headquartered in Skelton, United Kingdom, is a specialist in electrical engineering applied to the offshore wind energy sector. The company, founded in 2014, operates globally with an established presence in Europe, the U.S. and Taiwan. Currently, Correll has a workforce of 109 employees and partners with more than 500 contractors around the world.

The Deal

SPIE Oil & Gas Services has acquired 85% of the share capital of Correll Group, with the remaining 15% being retained by the management team. For the second time in 12 months, Lincoln International acted as the exclusive corporate finance advisor to SPIE, supporting the Euronext-listed energy services provider in a complex, multi-jurisdictional process.

The acquisition represents a significant milestone in SPIE’s strategy to expand its footprint in the renewable energies sector. Given Lincoln’s deep expertise in industrial and utility services, as well as experience in advising on cross-border transactions, the firm was well-positioned to offer insightful analyses that contributed to the successful completion of the transaction.

Our Perspective

Matthew Buck, Lincoln International Managing Director who led the transaction, commented, “We are pleased to have worked with SPIE on their acquisition of Correll Group. The acquisition represents a fantastic opportunity for SPIE to enhance its global renewable energy capabilities and strengthen its position in a sector with promising tailwinds and growth prospects.”

SPIE

SPIE is the independent European leader in multi-technical services in the areas of energy and communications.

Christophe Bernhart, Managing Director of SPIE Global Services Energy commented “Looking ahead, Correll Group’s vision expands beyond just cables and turbines. The specialized entity, now known as SPIE Wind Connect, is committed to connecting renewable energy sources to the grid, playing a crucial role in integrating sustainable power into the global energy mix”

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