Ardian, the French independent private investment company, has signed an agreement with Equistone Partners and the group's management and employees to acquire a shareholding in Spie batignolles. Following this transaction, Ardian, alongside the group's management, will acquire the 20% stake owned by Equistone to support the future development of Spie batignolles, notably through build-ups.

Spie batignolles is one of the leading unlisted players in the French construction market. The group has five divisions: construction, civil engineering, energy, public works, property development and concessions. Operating from 160 locations across France with 7,000 employees, the Group achieved a turnover of more than €2.1 billion in 2013.

Equistone has been a shareholder alongside the management since 2003, when Spie batignolles became fully independent from Spie, its former parent company. Today, the group is largely controlled by its management and employees. Salvepar, the investment company, is also a minority shareholder, with a 6.7% stake.

Dominique Gaillard, Managing Partner Direct Funds at Ardian, said:

"We have known Spie batignolles' management for several years and we share a common vision for the Group's future growth. The company has successfully diversified its activities while mastering a wide range of technical expertise. Working alongside Ardian, this gives Spie batignolles the ideal platform to take advantage of future build-up opportunities in France and, more broadly, internationally."

François-Xavier Clédat, President of the Supervisory Board of Spie batignolles, said:

"I am delighted that the Group now has Ardian's support. We share the same values and an ambition to maximise Spie batignolles' development potential. I would also like to thank Equistone, for their unwavering support for more than 10 years."

Guillaume Jacqueau, Managing Partner, Equistone Partners Europe, added:

"Equistone has backed Spie batignolles for more than a decade. The Group has grown successfully thanks to major acquisitions and the effective diversification of its activities. We are proud of the Group's success and it now confirms its position as one of the leading construction players in France."