Socotec records spectacular growth and solidifies international expansion
Socotec successfully completes strategic acquisitions overseas in the UK and U.S., accelerating its global footprint and paving the way for future growth.
Cobepa is proud to celebrate the remarkable achievements of its portfolio company Socotec, a leading French group in technical control and risk management in the construction and industrial sectors. Marking its 70th anniversary, Socotec has impressively completed its eleventh acquisition this year, expanding its expertise in the United Kingdom and the United States. This strategic expansion not only signifies Socotec's robust international presence but also highlights our successful partnership in fostering their growth and global outreach.
Socotec's recent ventures include the integration of IETG in the UK, specializing in electronic surveillance and services in the water sector, and SLS Consulting in the U.S., a frontrunner in fire safety. These acquisitions are a testament to Socotec's commitment to diversifying its service portfolio and strengthening its position in critical sectors. As investors, Cobepa is excited to be part of Socotec's journey towards a projected annual revenue of approximately €1.3 billion in 2023, with an operational margin of 17%, reflecting our shared vision of sustainable and profitable growth.
Looking forward, Socotec is well on its way to exceeding its 2024 enterprise plan a year in advance, with ambitions to achieve a turnover of €2.4 billion by 2028, of which 60% will be from international activities. The U.S. market remains a priority, potentially accounting for a quarter of Socotec's future turnover. Cobepa is honored to support Socotec in these endeavors, contributing to a future where our combined efforts result in unparalleled success and innovation in the industry.