Prysmian announced plans to acquire ACSM, a Spain-based provider of submarine cable survey and installation services, in a transaction valued at €169 million. The deal, which includes €24 million in capex tied to a new vessel delivery in Q4 2025, is expected to close by February and will be funded with cash on Prysmian’s balance sheet.
The acquisition brings in-house key capabilities across subsea surveying, route planning, seabed preparation, and pre- and post-installation services. ACSM operates globally with more than 350 employees, three dedicated vessels, and a fleet of remotely operated vehicles (ROVs), trenchers, and survey systems. In 2024, ACSM reported revenues of €62 million and EBITDA of €22 million, with net debt of €14.4 million. The transaction values the business at 6.6x EV/EBITDA based on 2024 results.
Prysmian said the deal strengthens its position as a one-stop provider for energy and telecom submarine cable projects, integrating surveying and seabed preparation alongside its existing cable manufacturing, installation vessels, and burial tools. ACSM has previously supported Prysmian on multiple projects and also brings experience in offshore renewables, salvage and rescue, and subsea R&D.
- Transaction value: €169 million, including €24 million in vessel-related capex
- Valuation multiple: 6.6x EV/EBITDA on 2024 results
- ACSM 2024 financials: €62 million revenue; €22 million EBITDA
- Assets and capabilities: three vessels, ROVs, trenchers, survey systems
- Strategic focus: full vertical integration across submarine cable lifecycle
Raul Gil, EVP Transmission at Prysmian, said the acquisition adds critical subsea know-how and assets, strengthening Prysmian’s ability to deliver secure, efficient installation and protection of submarine energy and data cables worldwide.
🌐 Analysis
Prysmian has steadily expanded its vertical integration across the submarine cable value chain through targeted acquisitions, complementing earlier investments in installation vessels and cable-laying technologies. Bringing survey and seabed-preparation capabilities in-house mirrors broader subsea market moves, where players such as Nexans and SubCom have also increased control over installation assets to manage cost, security, and delivery risk amid rising demand for power interconnectors and hyperscale subsea systems.
The deal also reflects consolidation across the subsea services ecosystem, as cable manufacturers seek tighter coordination with marine operations in response to growing project scale, geopolitical scrutiny of subsea infrastructure, and longer installation backlogs tied to offshore wind and long-haul telecom builds.
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