French construction conglomerate Bouygues has bought the Equans services arm of fellow French-owned energy giant Engie for €7.1bn.
The Equans operations will be combined with Bouygues’ Energy and Services (E&S) division.
Both operate substantial businesses in the UK paving the way for the creation of a major energy services operation employing over 16,000 staff.
The multi-technical services sector notably covers electrical engineering, HVAC, refrigeration, mechanical engineering, robotics, digital, telecoms networks and facilities management.
It is a strong growth potential market, forecast to grow by between 3%-4% over the next five years.
In the UK and Ireland, the rebranded Engie Services business is presently the larger of the two operations enjoying revenue of over £2bn.
Equans’ activities cover a host of areas from technical services, facilities management, construction and regeneration and renewables, employing 13,500 staff – a significant part of the overall new global operation.
Engie Regeneration, which original came from the former Keepmoat business, turned over £623m last year, but booked significant losses of £77m blaming the pandemic and discontinued businesses. The firm employs 2,800 staff.
Bouygues E&S Solutions is a smaller UK operation employing around 2,700 staff with revenue of £250m.
Martin Bouygues, Chairman of Bouygues, said: “The signing of a purchase agreement with Engie to acquire Equans is very good news.
“It paves the way for us to create a new global leader in multi-technical services, with strong roots in France. We will extend a warm welcome to the 74,000 Equans employees, who will be joining a group with a reputation for strong ethical values and high-quality labour relations. ”
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