TotalEnergies and the independent French consulting and engineering group Oteis have signed a deal for the sale of TotalEnergies’ sustainable consultancy and solutions affiliate GreenFlex to Oteis, a divestment that reflects TotalEnergies’ strategy to concentrate its activities on energy production and supply.
With over 800 employees and some thirty agencies in France and the rest of Europe, Oteis Conseil & Ingénierie operates in several fields: construction, water and development, infrastructure, and industry. The group’s ability to integrate new teams and develop their skills following deals similar to the GreenFlex acquisition has delivered strong growth in recent years.
Oteis intends to harness GreenFlex’s expertise in environmental and social consultancy, low-carbon energy performance and transition financing to establish a major new player with a full range of services and solutions on their markets.
For the teams at GreenFlex, the deal represents an opportunity to expand into new markets while continuing to help businesses and regions to become more sustainable, decarbonize and improve their energy efficiency.
Following divestment, TotalEnergies will become a major GreenFlex customer, signing a contract for the production of French Energy Saving Certificates (CEEs).
Completion of the project is subject to the usual conditions, including the consultation of employee representatives and the authorization of the competition authorities.
Source: TotalEnergies
