July 2 (Renewables Now) - The North American unit of French energy group Engie SA (EPA:ENGI) has entered into an agreement to acquire multi-trade contractor Conti Corporation, including affiliates engaged in the construction of renewable energy plants.
Under the terms of the deal, Engie North America Inc will acquire Conti together with electrical controls integrator Indicon Corporation, as well as Ion Electric LLC and McGilvray Mechanical LLC, which provide a complete electrical and mechanical package for customers. These businesses will join the Engie Services North America team.
Conti, Ion and McGilvray deliver construction services in various sectors, including renewable energy, electrical, technology, mechanical, fire suppression, HVAC+R and transportation.
“Together, we will be able to enlarge the range of services we offer and to both broaden and deepen our geographic reach in North America,” said Franck Bruel, Executive Vice President, supervising the UK, Latin America and North America Business Units at Engie.
The transaction is awaiting clearance from the US Federal Trade Commission (FTC) and is expected to close in early July 2019. The financial terms of the deal were not disclosed.