ENGIE announced today that it has signed an agreement with the SPIE Group in order to acquire* SPIE Morocco’s operations.
The agreement was signed on December 20, 2017 by Bruno Bensasson (CEO of ENGIE Africa) and Jérôme Vanhove (SPIE’s Director of Strategy, Development and Acquisitions), enabling ENGIE to acquire SPIE Morocco. SPIE Morocco is a key player in the electrical works, HVAC (Hearing Ventilation and Air Conditioning), telecommunication systems and multi-technical maintenance market in Morocco. SPIE Morocco employs over 1,000 people and generated revenues of approximately €70 million in 2016. The company has been present in Morocco for more than 100 years.
Bruno Bensasson commented: “This acquisition is perfectly in line with ENGIE’s strategy of becoming one of the leading energy services companies on the African continent. We are pleased to be strengthening our foothold in Morocco by integrating SPIE’s skills. We believe that the synergies of the teams will be an essential asset in turning this new entity into a major player, with a stronger competitive position and added value for our customers.”
ENGIE is already very active in Morocco in multi-technical maintenance and Facility Management through its subsidiary Cofely Morocco and its partnership with the Finatech Group. By integrating SPIE Morocco’s skills, teams and operations, ENGIE is becoming Morocco’s leader in energy services and is taking a major step forward in its ambition to become an integrated energy services provider in Africa.
With over 1,300 employees, the new entity will serve as an operational platform supporting its industrial and service-sector customers in Morocco and in other African countries enabling ENGIE to consolidate its position as energy transition leader on the African continent.
* Completion of the transaction is subject to approvals of the relevant regulatory bodies.
