DUBAI, United Arab Emirates – BUTEC (www.BUTEC.com) based in UAE, a leading contracting group in the MENA and GCC regions, has recently completed the takeover of 17 Energy Services companies in Africa previously owned by the energy global player, ENGIE Group. The acquisition process was completed on the 31st of March 2022, following the initial agreement signed on the 16th of last December between the two groups.
The acquisition of these 17 companies, based in 15 countries across Africa, stems from the strategic decision taken by BUTEC Group, a major EPC projects player since 1960s, to expand in Africa the geographic footprint of its second core business line: multi-technical services. This transaction will allow BUTEC Group to capitalize on 2000 collaborators and highly skilled executives, whose expertise will strengthen the company’s Energy Services activities, through key synergies. It is worth noting that some of the newly acquired company were established since the early years of the 20th century and have extensive experience in the field of multi-technical services installation and maintenance in their respective countries.
ENGIE, on the other hand, has decided to sell its Energy Services activities to Bouygues in Europe and to BUTEC Group in Africa, in line with its decision, taken in 2020, to redefine its strategic priorities to focus on green energy generation and distribution.
The newly acquired companies are:
In North Africa, ENGIE Service Morocco, a merger between SPIE Morocco, Cofely Morocco and EFS, these companies are leaders on their markets in North Africa and major players in energy transition.
ENGIE Services has also been present in Algeria since 2015.
In West Africa, ENGIE subsidiaries in Ivory Coast, Benin, Burkina Faso, Ghana, Mali and Niger. These companies occupy a leadership position in engineering, utilities installation and energy efficiency services, as well as in the manufacturing of electrical components.
In Southern Africa, Ampair, Thermair and IES operating in South Africa, Botswana, Mozambique, Swaziland and Zambia. Operational for more than 70 years, these companies have been leaders in the field of climate engineering and in the installation and maintenance of HVAC systems.
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Distributed by APO Group on behalf of BUTEC.
About BUTEC Group:
Established in Lebanon in 1964, BUTEC Group now based in Dubai is a major player in the MENA region, in the EPC construction businesses and multi-technical services. The founders and the management hold its capital, with a minority stake held by the IFC (the private sector financing arm of the World Bank).
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*Source: AETOSWire
