The Bouygues group announces that it has completed the purchase of Equans from Engie for €6.1 billion. “After taking into account Equan’s net debt on the date of acquisition, the impact on Bouygues’ net debt is €6.5 billion, including €130 million paid to Engie on May 12, 2022 at the signing of the acquisition contract”, specifies Bouygues.
Martin Bouygues, Chairman of the Board of Bouygues, said: “The acquisition of Equans is a major step in the history of Bouygues. We are becoming a world leader in multi-technical services and strengthen the Group’s resilience. What our professions have in common is that they are local service professions , led by entrepreneurs and committed and independent employees. I would like to welcome the 75,000 employees of Equans to our group.”
Olivier Roussat, CEO of the Bouygues Group, adds: “The arrival of Equans within the Bouygues Group is a great opportunity to create a world-class leader with strong local roots, to play a central role and respond to the challenges , the environment constitutes. , industrial and digital transitions, to work towards more sustainable and energy-efficient growth and finally to support our customers in their transition to a low-carbon activity. We have all the assets to transform this acquisition into a success for all of the Group’s stakeholders, especially its employees, customers and shareholders. »
Revenue rose to almost 51 billion euros
This transaction enables Bouygues to become one of the world leaders in the lively market of multi-technical services, whose activities are at the heart of environmental, industrial and digital transformations. “They especially offer solutions to optimize energy consumption, which is all the more strategic in the current context,” emphasizes Bouygues.
The new entity consists of Equan and Bouygue’s energy and services division and will represent approximately 17 billion euros in revenue, will bring together approximately 97,000 employees in more than 20 countries and “will have a strengthened capacity to design and implement sustainable and innovative offers .”
“The strong geographical and technical complementarities of Equans and Bouygues’ Energies & Services division will offer many opportunities to all Bouygues Group employees who share a common culture and strong values. Through this operation, the total revenue of the Bouygues Group will be increased from € 38 billion to nearly €51 billion, and the workforce will reach around 200,000 employees in more than 80 countries,” the group reports.
Jérôme Stubler becomes president of Equans
To create this new world leader, which will retain the Equans name, the activities of Bouygues’ Energies & Services division, currently linked to Bouygues Construction, will join the activities of Equans at the beginning of January 2023.
In addition, Jérôme Stubler, who reports to Olivier Roussat, will from today become Chairman of Equans and a member of the Bouygues Group’s General Management Committee. In the transition period between now and the beginning of 2023, Jérôme Stubler and Pierre Vanstofflegatte, managing director of Bouygue’s energy and services division, will work together to build the Equans of the future and start the implementation of synergies, especially in purchasing.
According to Bouygues, this new entity, positioned in a robust and vibrant market, will benefit from decisive advantages: a leading position in the market for multi-technical services, bringing together electrical engineering, HVAC engineering, mechanical engineering and robotics, information and telecommunications systems , Facility Management (facility management) and the smart city; a strong local presence in targeted countries; know-how and a portfolio of recognized brands, both in local services and in special activities; an ability to design and implement sustainable and innovative offers.
“This group has levers to develop and increase its profitability through synergies and operational performance improvement plans. The solidity of the Bouygues group, its unique culture of social dialogue and its strong human values are additional assets to accelerate the growth of the new entity. »
In addition, Bouygues clarified that this acquisition was financed “by available cash and the use of the syndicated loan signed in December 2021 with a maturity of 2 years from today. This syndicated loan has already been partially refinanced on May 17, 2022 by issuing In addition, the group added that, in accordance with its prudent financial policy, it had “introduced interest hedging instruments between November 2021 and January 2022. As of On 3 October 2022, the fair value of these instruments amounted to €952 million. EUR, of which 287 million EUR is frozen in connection with already completed bond issues. »