VINCI Group has strengthened its position within the renewable energy sector with its latest acquisition.
VINCI Energies has signed an agreement to acquire electrical infrastructure specialist EnergoBit Group, for an undisclosed sum.
Founded in 1990, EnergoBit, based in Romania, generated consolidated revenues of €100 million last year and currently employs more than 820 people operating from eight locations.
The acquisition will support the activities of VINCI Group, which last year generated revenue of more than €200 million in Romania, mainly through VINCI Energies (more than €150 million) and VINCI Construction (nearly €50 million).
“The transaction will extend to Romania the footprint of the Omexom brand – dedicated to energy infrastructure – and will strengthen VINCI Energies’ position in the country which has been present in Romania since 2007 and currently employs 1,500 people there,” VINCI Group said.
EnergoBit has expertise in engineering and installation of electrical substations, overhead transmission and distribution lines, as well as network monitoring and automation.
It also has a facility for assembling transformers and medium-voltage switchgear.
The acquisition comes against a backdrop of significant investment in energy transition and infrastructure modernisation.
A company statement on the activities of EnergoBit, reads: “EnergoBit represents the story behind electricity, proposing and offering a full range of services such as energy audit and technical design, production of electrical equipment (low and medium voltage), general contracting, maintenance and operation services.
“The company develops projects in the energy services market, in Romania and abroad, delivering innovative and sustainable energy solutions, designed to meet customers’` specific needs.”
The completion of the deal is subject to approval by the relevant authorities.
Earlier this year VINCI completed the acquisition of UK civil engineering contractor FM Conway, for an undisclosed sum, a major addition to its M&A portfolio.
The firm and its businesses were assimilated into the VINCI Construction network, strengthening the French construction giant’s position in the UK market.
Then, in March, VINCI announced the rebranding of its UK testing and consultancy division VINCI Technology Centre, to Initivo Consultancy, to better reflect the range of clients across different sectors the division serves.
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