Bouygues to buy Equans for €7.1bn

FRANCE: Bouygues, the construction and diversified services group, has signed an agreement to purchase Equans, the FM and energy solutions arm of Engie, for an estimated €7.1bn.

The proposed merger between Equans and the Bouygues group’s Energies & Services arm (Bouygues Energies & Services and Kraftanlagen München) will create a new global leader in multi-technical services with sales of €16bn and 96,000 employees – 74,000 of them from Equans. 

It would have broad geographical reach, extending to over 20 countries worldwide. Equans and the Bouygues group’s Energies & Services arm have strong positions in the main European markets and promising opportunities for expansion in North America. The new business will also enjoy a dense branch network in France and Switzerland

The acquisition is expected to be completed by the second half of 2022.

The multi-technical services sector notably covers electrical engineering, HVAC, refrigeration, mechanical engineering, robotics, digital, telecoms networks and facilities management.

The Equans business, which was formed by Angie in July, includes its climate control business Axima.