Engie SA (ENGI.FR) said Monday that it has reached an agreement to acquire two South African energy services companies.
Terms of the agreement for Thermaire and Ampair were not disclosed, and the deal is conditional on regulatory approval.
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Together, Thermaire and Ampair employ more than 500 people across South Africa and Mozambique, the French company said, and are major players in the heating, ventilation, and air conditioning--or HVAC--installation and maintenance segment in the South African market.
The companies often work together to offer joint installation, maintenance and guarantee HVAC contracts, Engie said. They have built strong partnerships with customers who run power plants, commercial buildings, shopping malls and data centers.
Bruno Benasson, Engie's Africa Chief Executive, said the deal will allow the company to establish itself as an integrated energy services provider in the region. "We are proud of this first step in the energy services business to business regional market and excited to explore further opportunities with clients locally," he said.
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(END) Dow Jones Newswires
December 04, 2017 09:58 ET (14:58 GMT)