M&A
France's Assystem acquires infra consultancy firm STUP for $26-M
Paris-based engineering group Assystem SA has acquired a 99% stake in Mumbai-based engineering consultancy firm STUP Consultants Pvt Ltd for EUR 21-22 million (approx USD 25-26 million). The consideration includes cash net of debt estimated at EUR 1 million, STUP generates about EUR 20 million in annual revenue and employs 1,100 people across India. It is stated to be among the nation's leading players in transportation infrastructure engineering (motorways, railway infrastructure, metropolitan networks and airport terminals). Assystem aims to leverage the acquisition to develop operations in India and strengthen its skills and expertise in non-nuclear infrastructure engineering.
From the Venture Intelligence Private Company Financials Database: In FY20, STUP had reported an Operating Income of INR 215 Cr and a PAT of over INR 30 Cr. (Subscribers to the database can login to view the detailed financials.)
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