MAIRE announces that KT - Kinetics Technology (the subsidiary part of the Integrated E&C Solutions Business Units operating also in support of the Sustainable Technology Solutions Business Unit) has signed a binding agreement to acquire 100% of APS Evolution S.r.l, parent company controlling APS Designing Energy S.r.l. and KTI Poland S.A.

APS Designing Energy and KTI Poland are two engineering companies known for carrying out projects for the conversion of natural resources (downstream segment), with a specific focus on innovative rubbers, as well as in green chemistry, such as biofuels and bioplastics. The two companies provide a wide range of services in the whole value chain, from feasibility studies to engineering and project management consultancy, as well as procurement, construction, and training services.

This acquisition will enable MAIRE to expand its engineering capacity by adding a multidisciplinary team of around 280 highly skilled experts in different fields, such as process, automation, mechanical, piping, electrical, and civil engineering. Especially, KTI Poland has a strong footprint in Eastern Europe, which MAIRE Group will leverage to strengthen its position in the region and seize new opportunities and prospects, especially in the upgrading of existing plants.

The agreement provides for an overall purchase price of approximately €7.7 million, of which approximately €1.2 million to be paid at the closing date, and €6.5 million in four instalments within 5 years from closing. Closing is subject to certain conditions precedent customary for this kind of transactions, further to those required by the applicable law and is expected in about three months from signing.

Alessandro Bernini, MAIRE CEO, commented: “This acquisition marks an important step to further strengthen MAIRE Group’s competences and capabilities in Integrated E&C Solutions while expanding its operational footprint in Eastern Europe. This engineering excellence also best fits MAIRE Group’s value proposition in delivering large complex projects worldwide.”