Bouygues acquires plan group
18 July 2014Bouygues Energies & Services, a subsidiary of Bouygues Construction, has acquired a majority shareholding in Plan Group, a Canadian technical services provider (mechanical and electrical contracting, maintenance and technical services, building automation systems and network infrastructure). Based in Toronto, Ontario, as well as Ottawa, Montreal and Vancouver, Plan Group achieved a turnover of CAD 361M (USD 335.75M) in 2013 and has an employee base of around 1,700.
The acquisition remains subject to the approval of the local competition bureau.
The acquisition is part of Bouygues Construction's international strategy and illustrates the Group's ambition to continue its development in Canada on all aspects of the construction value chain. Bouygues Energies & Services is already established in British Colombia via its subsidiary Bouygues Energies & Services Canada, which was set up in 2008 to oversee the Facilities Management of 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 providing Facilities Management at Kelowna International Airport in British Columbia since 2013.
Jean-Philippe Trin, Chairman and CEO of Bouygues Energies & Services, declared: "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 in order to deploy our expertise in terms of HVAC, network infrastructures (HV lines, substations, street lighting, broadband), solar and biomass power plants."
Bouygues Energies & Services has proposed to Plan Group a business plan that creates the best conditions to develop its activities, together with a strong commitment towards the Plan Group employees. After financial close, Bouygues Energies & Services will acquire 85 per cent of the shares of Plan Group. The current management team will remain unchanged and will retain a 15 per cent shareholding.
