SPIE acquires Clauser, specialist in high-intensity electrical installations
The multitechnical services group adds to its French industrial activity a family-owned company from Savoie and Nord regions, experienced in aluminum and electrochemistry processes. The operation concerns a target with approximately 22 million euros in revenue, in a sector that SPIE describes as heavily impacted by the electrification of industrial processes.
A sixty-year-old SME specialized in aluminum and electrochemistry
SPIE announced on October 5, 2026, at the end of the day, the acquisition of 94% of Clauser's capital. This French family-owned company specializes in industrial maintenance and high-intensity electrical installations. Frédéric Toussaint, Chief Executive Officer of SPIE Industrie (France), commented on the acquisition. Founded in 1963, Clauser is based in Saint-Jean-de-Maurienne and Dunkerque. Its activities cover three business areas: engineering, modernization and maintenance of installations. Its clients are electro-intensive industrialists, whose processes rely on very high electricity consumption. The expertise of its teams was built in particular around the production and processing of aluminum, as well as electrochemical processes. These two fields require electrical installations capable of supporting high intensities, which constitutes the core competency of the company. Clauser has approximately one hundred employees. In 2025, the company achieved revenue of approximately 22 million euros. For SPIE, the stated objective is to strengthen its expertise in industrial maintenance and high-intensity electrical installations. The group justifies this choice by the sector's exposure to the electrification of industrial processes. The economic mechanism is that of a targeted acquisition: SPIE integrates a team recognized for its expertise in engineering, modernization and maintenance serving electro-intensive industrial clients.
A modest operation relative to the group
The scale of the operation must be understood in relation to the group's accounts. SPIE achieved consolidated revenue of 9.9 billion euros and consolidated EBITA of 712 million euros in 2024. The group employs 55,000 employees, compared to approximately one hundred for Clauser. At SPIE's scale, Clauser's contribution therefore represents a complementary acquisition, whose value lies more in the technical expertise added than in the volume of business. This interpretation is consistent with the justification put forward by the group, centered on expertise rather than revenue growth. Frédéric Toussaint, Chief Executive Officer of SPIE Industrie (France), clarified the operational challenge. According to him, the expertise of Clauser's teams in processes related to aluminum production and processing constitutes "a major asset to support the electrification and decarbonization of French industrial sites". On the sellers' side, the Clauser family presented this merger as "a structuring new step to continue the company's development, in service of its industrial clients". They recalled that the company has developed over more than sixty years thanks to its expertise and the commitment of its teams.
Two group financial operations in September
This acquisition comes a few weeks after two group financial operations. On September 21, 2026, SPIE had launched a bond issuance linked to sustainability criteria, intended in particular for the partial refinancing of its existing debt. On September 25, 2026, the group had accepted the buyback of 70% of its convertible bonds maturing in January 2028, for approximately 388 million euros. On the stock exchange, SPIE shares fell below the 43 € threshold on September 28, 2026, in an almost stable SBF 120.
