Bouygues acquires Canadian technical services company
By Chris Sleight16 July 2014
Bouygues Energies & Services, a subsidiary of Bouygues Construction, has acquired a majority shareholding in Toronto, Canada-based Plan Group. The company is active in mechanical and electrical contracting, maintenance and technical services, building automation systems and network infrastructure.
Bouygues said the acquisition was part of its international strategy. It builds on the presence Bouygues Energies & already has in the Canadian province of British Colombia through Bouygues Energies & Services Canada, which was set up in 2008 to oversee the facilities management of two PPP projects in Vancouver.
Plan Group has offices in Ottawa and Vancouver as well as the Toronto headquarters. Last year it achieved revenues of CA$ 361 million (US$ 225 million) and employs 1,700 people. Bouygues will acquire an 85% stake in the company, with the current management team retaining 15%.
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 in order to deploy our expertise in terms of HVAC, network infrastructures (HV lines, substations, street lighting, broadband), solar and biomass power plants."
The acquisition remains subject to the approval of the local competition bureau.