BAM sells Belgian electrical engineering activities to management
Bunnik, the Netherlands, 19 May 2016 – Royal BAM Group nv has sold its Walloon subsidiary Balteau i.e. (installations électriques) to the management.
Balteau i.e. is specialised in electrical engineering, high and low voltage for public, private and industrial buildings, data cabling, fire detection, alarm systems and electric heating. The company was founded in 1983 and was part of BAM since 2008. Balteau i.e. has more than two hundred employees and an annual turnover of approximately €40 million. The transaction includes also the four affiliates of Balteau i.e .: Electro Gdb, TCS Pirotte, Alarme Contrôle and Service Partner.
The transaction is in line with BAM’s recently defined strategy for 2016-2020: Building the present, creating the future. One of the three strategic pillars is shaping the business portfolio. In this context, BAM announced to continue to exit operational activities which do not offer sufficient opportunities to use scale or differentiation as critical success factors. BAM sees insufficient synergies to maintain its participation in Balteau i.e. and its affiliates.
Further information:
- press: Arno C. Pronk, +31 (0)30 659 86 23;
- analysts: Joost van Galen, +31 (0)30 659 87 07.