Assystem Acquires L&T Infrastructure Engineering Limited in India
French engineering firm Assystem announced January 3, 2024, it has acquired L&T Infrastructure Engineering Limited (L&T IEL) in India. The acquisition expands Assystem's services and market share in the country's infrastructure, transport, and energy sectors.
Assystem, a global player in engineering and technology, has acquired L&T Infrastructure Engineering Limited (L&T IEL), a subsidiary of the Larsen & Toubro group, through its Indian entity Assystem STUP. The deal, announced January 3, 2024, aims to bolster Assystem's presence and capabilities within India.
The acquisition is expected to enhance Assystem's market share and expand its design and planning services across India's infrastructure, transportation, and energy sectors. All 431 employees of L&T IEL will be integrated into Assystem. The company plans to consolidate its Indian workforce under a single Assystem brand in 2024.
L&T IEL, established in 1998, has been active in India's transport and infrastructure development. The company operates offices in major cities including Hyderabad, Mumbai, Delhi, and Chennai. L&T IEL reported a revenue of Rs. 922 million (approximately €10.2 million) for the financial year 2022-23.
Assystem, which focuses on energy transition, views India as a key growth market. Ashish Tandon, Managing Director of Assystem in India, stated that the acquisition marks a milestone in supporting India's national infrastructure program through enhanced engineering services.