Grontmij Sells Asset for €67 million

On Tuesday, Dutch engineering company Grontmij announced that it has decided to sell its French monitoring & testing business for €67 million.

Grontmij will be selling the asset to a group of investors directed by private equity investment specialists Siparex. The group of buyers also consists of Cathay Capital, Bpifrance Investissement, and BNP Paribas Développement. In a shared report with Grontmij, Siparex said the French unit evaluates building materials and creates geotechnical studies. The selling of the French business is worth €71 million, inclusive of debt. This move will enable Grontmij to lessen its liability and concentrate on its engineering activities. Source: Reuters