Bouygues completes acquisition of construction company in Canada
Related M&A Transactions
Bouygues Energies & Services, a subsidiary of Bouygues Construction, has concluded the acquisition of a majority shareholding in Plan Group, a Canadian company specialising in mechanical and electrical engineering (design, installation, maintenance and technical services, building automation systems and network infrastructure).
First announced on July 16, this acquisition is in line with Bouygues Construction's international strategy and illustrates the Group's ambition to continue its development in Canada in all parts of the construction value chain.
Jean-Philippe Trin, Chairman and CEO of Bouygues Energies & Services, said:
"Canada currently offers high-yield short-term and long-term economic opportunities. Beyond facilities management and mechanical & electrical engineering, we would like to take advantage of the excellent positioning of Plan Group to deploy our expertise in HVAC engineering, network infrastructures (high voltage lines, substations, street lighting, broadband), solar and biomass power plants, and more."
Plan Group is based in Toronto, Ontario, and also has offices in Ottawa, Montreal and Vancouver. It recorded sales of CA$361 million (approximately €242 million) in 2013, and employs approximately 1,700 people. Bouygues Energies & Services proposed an acquisition project to Plan Group that will create the best conditions for the development of its business, together with a strong commitment to Plan Group employees. After the financial close, Bouygues Energies & Services acquired an 85% stake in Plan Group. The current management team remains unchanged and retains a 15% shareholding in the company.
Bouygues Energies & Services is already established in British Columbia through its subsidiary, Bouygues Energies & Services Canada, which was set up in 2008 to provide facilities management services for two PPP projects in Surrey, Vancouver: the Jim Pattison Outpatient Care and Surgery Centre and the headquarters of the Royal Canadian Mounted Police's E Division. Bouygues Energies & Services has also been responsible for facilities management at Kelowna International Airport in BritishColumbia since 2013.