MAIRE’s Subsidiary Completes APS Evolution Acquisition for Engineering Expansion

MAIRE Group has confirmed that its subsidiary, KT-Kinetics Technology, has successfully finalized the acquisition of the entire share capital of APS Evolution S.r.l. This strategic move signifies a significant milestone for KT-Kinetics Technology as it expands its operational footprint and strengthens its position in the industry.

This acquisition will significantly boost MAIRE's engineering capabilities by incorporating a multidisciplinary team of approximately 290 experts specializing in various fields, including process, automation, mechanical, piping, electrical, and civil engineering. Moreover, the acquisition of KTI Poland will extend MAIRE's presence in Eastern Europe, opening up new opportunities and prospects, particularly in the upgrading and modernization of existing plants. This strategic move will not only enhance MAIRE's technical expertise and capacity but also strengthen its market position, enabling the company to better serve clients and capitalize on emerging growth opportunities in the region.

The agreement stipulates a total cash consideration of approximately €7.7 million. An initial payment of around €1.2 million was made today, with the remaining €6.5 million to be paid in four instalments by 2030. This structured payment plan allows for financial flexibility and ensures a steady investment flow over the next six years. The phased payment approach underscores the long-term strategic commitment of the parties involved, enabling a manageable and sustainable integration of the acquired assets. This financial arrangement is designed to support ongoing operations and growth while optimizing cash flow management.

APS Evolution S.r.l. is the parent company of APS Designing Energy S.r.l. in Italy and KTI Poland S.A. in Poland, both of which are well-regarded internationally for their expertise in downstream petrochemical projects. They specialize in converting natural resources into innovative rubbers and green chemistry solutions, including biofuels and bioplastics. As of June 30, 2024, the companies reported total revenues of €61.7 million and had a backlog of €137.3 million, reflecting their strong market position and ongoing project pipeline.

Alessandro Bernini, CEO of MAIRE, stated that the acquisition will bolster the Group's anticipated growth by bringing in highly skilled professionals. He emphasized the importance of industrial decarbonization in meeting the European Green Deal objectives and expressed enthusiasm about contributing to a more sustainable economy through MAIRE's technological and engineering expertise.

APS Evolution is a holding company overseeing two engineering firms with a proven global track record in natural resource conversion and sustainable chemical processes. Thanks to this acquisition, MAIRE will leverage an additional workforce expand its project management and engineering capacity in the process, automation, mechanical, piping, electrical, and civil fields. This strategic move enhances MAIRE's ability to deliver comprehensive solutions and capitalize on new opportunities in the energy and green chemistry sectors, thereby strengthening its competitive position in the market.