The sale is in line with a plan to shape BAM's business portfolio - one of three key pillars of the group's 2016-2020 strategy. BAM has said that it will continue to exit operational activities that do not offer sufficient opportunities to use scale or differentiation as critical success factors.
Balteau i.e. (installations électriques) specialises in electrical engineering, high and low voltage systems for public, private and industrial buildings, data cabling, fire detection, alarm systems and electric heating.
The company was founded in 1983 and became part of BAM in 2008. Balteau i.e. has more than 200 employees and an annual turnover of approximately €40m. The transaction includes also the four affiliate business: Electro Gdb, TCS Pirotte, Alarme Contrôle and Service Partner.
BAM said that it sees insufficient synergies to maintain its participation in Balteau i.e. and its affiliates.