Engie to Acquire Two South African Energy Services Companies
December 04 2017 - 10:13AM
Dow Jones News
By Marc Bisbal Arias
Engie SA (ENGI.FR) said Monday that it has reached an agreement
to acquire two South African energy services companies.
Terms of the agreement for Thermaire and Ampair were not
disclosed, and the deal is conditional on regulatory approval.
Together, Thermaire and Ampair employ more than 500 people
across South Africa and Mozambique, the French company said, and
are major players in the heating, ventilation, and air
conditioning--or HVAC--installation and maintenance segment in the
South African market.
The companies often work together to offer joint installation,
maintenance and guarantee HVAC contracts, Engie said. They have
built strong partnerships with customers who run power plants,
commercial buildings, shopping malls and data centers.
Bruno Benasson, Engie's Africa Chief Executive, said the deal
will allow the company to establish itself as an integrated energy
services provider in the region. "We are proud of this first step
in the energy services business to business regional market and
excited to explore further opportunities with clients locally," he
said.
Write to Marc Bisbal Arias at marc.bisbalarias@dowjones.com
(END) Dow Jones Newswires
December 04, 2017 09:58 ET (14:58 GMT)
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