- Engie has signed an agreement to acquire energy services and construction company in North America, Conti Corporation
- Active in the construction of solar power projects along with other industries, Conti will become a part of Engie North America along with its subsidiaries Indicon Corporation, McGilvray Mechanical LLC, and Ion Electric LLC
- Engie says Conti’s experience in solar power plant construction space will support its support its renewable energy projects in the region and that it is a highly value creating transaction
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French energy company Engie has announced its intention to acquire solar power project construction player Conti Corporation and its subsidiaries for an undisclosed amount by signing an agreement. Along with its subsidiaries Indicon Corporation, McGilvray Mechanical LLC, and Ion Electric LLC, Conti is active in the construction and energy services segments such as heating, cooling, electrical mechanical systems in the US and Canada.
With an employee strength of 2,000, Conti also provides EPC services for both large scale solar power plants along with smaller projects. Calling the deal a ‘highly value-creating transaction’, Engie said it will add its technical and digital solutions to Conti’s offers to their clients and the latter’s excellence in solar power plant construction will support the French company’s renewable energy projects in the region.
“We are pleased to welcome our 2,000 new colleagues from Conti. They will bring great wealth to our portfolio of activities and skills. Together, we will be able to extend our range of services while expanding and strengthening our geographic presence in North America,” said Engie’s Executive Vice President for North America, United Kingdom and Latin America Business Units, Franck Bruel. “We are also looking forward to welcoming clients of Conti, Ion, McGilvray and Indicon to our client base in North America, where we are working on more than 55,000 projects. With them, we will continue to develop our potential and devise comprehensive and innovative solutions to lead the zero-carbon transition.”
The transaction is subject to regulatory approvals and is expected to close by early July 2019.
Last year in April 2018, Engie acquired Chicago based PV and battery storage installer SoCore Energy through its subsidiary Engie North America to expand its renewables presence in the US (see Engie Acquires US PV Developer SoCore).