The London and Paris offices of Debevoise & Plimpton LLP have advised Clayton, Dubilier & Rice (“CD&R”) and Ardian in the sale of approx. 7.8 million shares in SPIE, representing their last remaining investment in the company.

The sale represents a successful exit for CD&R and Ardian, who part of the original group to acquire SPIE from PAI Partners in 2011. Debevoise advised on that original acquisition, as well as SPIE’s initial public offering in 2015, and the series of block trades of SPIE shares in 2016 and 2017.

SPIE is a European leader in multi-technical services. It specializes in electrical, mechanical, and HVAC contracting services, as well as oil & gas, nuclear and communications network services. With nearly 500 locations in 31 countries, SPIE provides services and performance technical solutions that meet current and future challenges of its customers, whether local or international.

Founded in 1978, Clayton, Dubilier & Rice is a private investment firm. Since inception, CD&R has managed the investment of more than $24 billion in 75 companies representing a broad range of industries with an aggregate transaction value of more than $100 billion.

The Debevoise team advising on the most recent sale of shares was led by partner Raman Bet-Mansour, and included international counsel Philippe Tengelmann and associate David M. Becker. Tax advice was provided by international counsel Cécile Beurrier.

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