Houlihan Lokey Advises the Shareholders of ROFA on the Sale to SPIE

Houlihan Lokey is pleased to announce that the shareholders of ROFA Industrial Automation AG (ROFA), led by Blue Elephant Venture GmbH, have agreed to sell ROFA to SPIE Group (SPIE).

Headquartered in Kolbermoor, Germany, ROFA is a leading provider of advanced industrial automation, conveyor systems, and intralogistics solutions. For more than 50 years, the company has been a trusted partner to global blue-chip customers, delivering intelligent, efficient, and highly reliable production and logistics systems. ROFA offers fully integrated, end-to-end automation solutions. The company employs approximately 1,200 highly qualified people and generated a total output of around €430 million in 2025.

Blue Elephant Venture GmbH is the entrepreneurial family office and investment vehicle of the Wacker family. The family office has successfully accompanied ROFA over many years on its growth path from a regional provider of conveyor technology to an internationally operating system integrator that also supports its predominantly German customers worldwide.

SPIE is the independent European market leader in multi-technical services for energy and communications. In the 2024 financial year, SPIE generated sales of €9.9 billion, with EBITA of €712 million, and employs around 55,000 people at nearly 600 locations in 38 countries. ROFA is a powerful new platform with leading expertise in system design and automation technology, which enables SPIE to accelerate its growth strategy in the German industrial services market, one of the largest and most dynamic in Europe.

The transaction provides a strong platform to accelerate ROFA’s growth trajectory by leveraging meaningful synergies across its substantial installed base and long‑standing blue‑chip customer relationships. In addition, SPIE will act as a strategic partner to further scale the business, actively supporting ROFA’s expansion and M&A agenda through targeted acquisitions.

The transaction is expected to close in the second quarter of 2026, subject to antitrust approvals.

Houlihan Lokey served as the exclusive sellside advisor to the shareholders of ROFA. This deal represents another successful transaction for Houlihan Lokey in the warehouse and factory automation space.

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