France’s Altrad buys Sparrows Group of Aberdeen

French company Altrad announced it agreed to acquire Aberdeen-based Sparrows Group, a specialist provider of engineering, inspection, operations, and maintenance services in the offshore energy, renewables and industrials sectors.

Around 2,000 Sparrows Group employees will join Altrad.

The transaction is expected to close in Q2 or Q3 2022, subject to customary regulatory approvals.

Altrad founder and president Mohed Altrad said: “Sparrows is well-respected across all the global locations it operates and is a trusted service provider and supplier to numerous sectors and strategic clients.

“Sparrows’ over 2,000 skilled and knowledgeable people will be a valuable addition to our group and we are looking forward to welcoming them to the Altrad family.”

Sparrows CEO Stewart Mitchell said: “This is a hugely exciting time for Sparrows, and we are looking forward to joining Altrad.

“We are excited about Altrad’s strategic vision and ambition, and this transaction will deliver many advantages for our clients and employees as we continue on our diversification and growth trajectory.

“The shared values between Altrad and Sparrows, especially a commitment to quality and safety, allows us to sustainably support each other’s ambitious growth aspirations.”

Altrad was advised by BNP Paribas and Squire Patton Boggs.

For Sparrows, Evercore served as financial advisor and Freshfields served as legal counsel.

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Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.