Assystem prepares to acquire L&T Infrastructure Engineering
Engineering firm Assystem intends to acquire L&T Infrastructure Engineering, an Indian subsidiary of Larsen & Toubro with 431 employees. The deal aims to bolster Assystem's presence and service offering in India.
Assystem, a company focused on the energy transition, has announced its intention to acquire L&T Infrastructure Engineering Limited, an Indian subsidiary of the Larsen & Toubro group. The acquisition will include 431 employees and is expected to be finalized by January 15, 2024, subject to customary conditions.
L&T Infrastructure Engineering, established in 1998, provides design and consulting services for India's transportation and infrastructure development sector. The company operates from key Indian cities including Hyderabad, Mumbai, Delhi, and Chennai. In the financial year 2022-23, L&T Infrastructure Engineering reported a revenue of 922 million Indian rupees (approximately 10 million euros).
The acquisition is intended to enhance Assystem's engineering service portfolio in India, particularly in the rail, transportation, and energy sectors. Assystem states that the deal will increase its market share and improve its capabilities in project design and planning.
"This acquisition will be a vital building block in establishing Assystem in India," said Ashish Tandon, Managing Director of Assystem STUP. He added that the combined expertise aims to offer enhanced, all-encompassing solutions to clients, focusing on efficiency and innovation in project delivery.