ENGIE strengthens its presence in Australia and New Zealand after completing the purchase of 100% of TSC Group Holdings from private equity group, Allegro Funds. The Group, through its subsidiary Cofely, previously owned a minority stake in TSC but has now moved to full ownership.
TSC operates businesses in the commercial and industrial heating, ventilating and air conditioning, refrigeration, mechanical, fire safety and security services sectors in Australia and New Zealand through the Trilogy Building Services, Spectrum Fire & Security and Cowley Services brands. With 600 employees, and a turnover of A$ 149 million, it is a significant player on the Australian market.
“This transaction is fully in line with ENGIE development in energy services in Asia and Pacific and provides a significant platform to build our services business further in Australia and New Zealand,” said Jérôme Tolot, ENGIE Executive Vice-President, in charge of the Energy Europe and the Energy Services business lines. “We have had a successful partnership with TSC Group over the past two years and we are now able to leverage the scale of the Energie Services network, knowledge and know-how to further invest, expand and transform TSC Group’s service offering to help customers across Australia and New Zealand achieve their energy efficiency, environment, operations and maintenance objectives.”
ENGIE operates energy services through the Cofely brand, focused on developing and implementing smart energy and environmental efficiency services in the industrial, public and commercial building sectors.
Cofely’ major projects in Australia include a centralised district cooling scheme in Brisbane which is geared to save businesses money and more than 20,000 tonnes of greenhouse gasses per year, which Cofely is developing in consortia with Thiess Services. In New Zealand, Cofely has been selected as the preferred bidder (with Pioneer) for the design and delivery of the district energy scheme (DES), a cornerstone project of the Christchurch central business district rebuild.
ENGIE develops its businesses (power, natural gas, energy services) around a model based on responsible growth to take on the major challenges of energy’s transition to a low-carbon economy: access to sustainable energy, climate-change mitigation and adaptation, security of supply and the rational use of resources. The Group provides individuals, cities and businesses with highly efficient and innovative solutions largely based on its expertise in four key sectors: renewable energy, energy efficiency, liquefied natural gas and digital technology. ENGIE employs 152,900 people worldwide and achieved revenues of €74.7 billion in 2014. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main international indices: CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, DJSI World, DJSI Europe and Euronext Vigeo (World 120, Eurozone 120, Europe 120 and France 20).