ACQUISITION OF CEDE BY GSRI GROUP
GSRI Group widens its expertise with the acquisition of CEDE
The specialist in infrastructure engineering GSRI has announced the acquisition of C.E.D.E. (Conseil Expertise Diagnostique Environnement). This is its first external growth operation since the arrival of the majority shareholder Sparring Capital one year ago, and Executive Director Bruce Xiste.
CEDE is an engineering company based in Verrières-le-Buisson (Essonne) and Lyon, specialising in the detection of the so-called ‘sensitive’ underground networks (electricity, water, etc.) and in geophysics for the construction industry. The company has 17 employees, most of which are engineers, geophysicists and geologists.
Founded in 2011, CEDE has experienced a strong growth, driven mainly by a favourable regulatory environment, which regularly reinforces the geolocation requirements for network operators.
CEDE posted sales of €2M in 2018 with blue-chips clients, the majority of which are public sector entities (water authorities, city halls, general councils, etc.).
Bruce Xiste, Executive Director of the GSRI Group, said: “The acquisition of CEDE brings us additional expertise and strengthens our presence in the Lyon region. There will be many business synergies. This movement reinforces our ambition to make the GSRI Group a leader in infrastructure engineering. Other development initiatives have already been launched, including external growth operations and the opening of local branches.”