SUEZ announced today it has entered into an exclusive agreement with Veolia for the sale of French subsidiary OSIS, multi-specialist in sewerage services. The agreement secures a solid future for OSIS business. The transaction, which is binding subject to regulatory approval and customary closing conditions including the consultation of employee representative bodies, is expected to be completed in the first half 2021.
With 2,500 employees located in over 130 local service centres in France, OSIS operates complementary business segments: sewerage and liquid waste collection, industrial cleaning and building hygiene. Over a century of experience, OSIS has developed strong expertise and specialized equipment to serve its diversified portfolio of customers, from corporates to local authorities and individuals. In 2019, OSIS made c.€ 311 million revenue and c. € 23 million EBITDA on a pro forma adjusted basis.
The transaction is the first major announcement concerning SUEZ’s asset rotation program intended to align our activities around our Shaping SUEZ 2030 strategy. The contemplated sale values the business transferred at c.€ 298 million, representing a multiple of c.13 times 2019 pro forma adjusted EBITDA.
SUEZ was advised by DC Advisory and Racine.
Copied to clipboard
When you browse our site, data may be saved or read from your browser or device. Certain technical cookies are necessary to ensure the site works correctly. These are used for areas such as security, ergonomics and language choice, and are therefore always active. They do not contain any personal data. You can deactivate them using your browser's cookie settings.
Only the "SC_ANALYTICS_GLOBAL_COOKIE" may store personal details (your IP address). SUEZ uses this cookie to analyse your browsing and measure the website's audience. The button below allows you to deactivate or reactivate this cookie at any time.