Positive Energy Partner
Born in 2008 from a partnership between ENGIE and Belgian construction group BESIX, CBFM is a major client solutions and energy services provider, with 2,000 employees operating across the region, with a strong presence in the UAE and Oman (with its partner Daud), working on several landmark sites such as Dubai Mall, Abu Dhabi’s Zayed University and City Walk.
This acquisition is the result of ENGIE’s strategic ambition to become the world leader in zero-carbon transition, developing energy-efficient assets and putting into practice a unique integrated approach, enabling the company’s accelerated growth across a broad spectrum of services while servicing clients’ evolving needs.
This ambition has previously led to ENGIE’s 2018 acquisition of a significant stake in Smart4Power, a Dubai-based independent energy services company (ESCO) providing energy saving solutions for existing buildings in the public and private sectors.
Sébastien Arbola, Chief Executive Officer of ENGIE MESCAT, commented “This move is a game changer for ENGIE in the Middle East, as it provides us direct access to expanded capabilities to meet our clients’ needs. It integrates into our portfolio a technical services team with a strong local and regional reputation and provides a robust platform for future development across the region”.
Long Term Commitment to the Region
ENGIE has been present across the GCC for over 20 years, establishing its position as a leader in power and water production with a total gross portfolio of 30 GW power and over 4.5 million cubic meters per day of desalinated water. Globally, the Group employs 100,000 people devoted specifically to energy efficiency.
ENGIE and BESIX agree that their shared success in CBFM has demonstrated the strength of their ten-year partnership in the region, and they will continue to explore regional opportunities in a bid for sustainable success.
ENGIE Cofely CEO Ian Harfield said “We are excited to join the global ENGIE family and look forward to embark on a new journey that will see ENGIE Cofely combine ENGIE’s global expertise with CBFM’s robust geographical presence and capabilities. This will give our local customers the best of both worlds, while allowing us to expand further across the region.”
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About ENGIE MESCAT
ENGIE Middle East, South & Central Asia and Turkey (MESCAT) has a regional presence of almost 30 years. ENGIE is the regional leading independent power & water producer with a gross capacity of 32 GW of power and 5.5 million m3/day of water. The portfolio includes 810 MWp of solar PV and 280 MW wind in India. In Turkey, ENGIE has 370,000 customers in gas distribution via IZGAZ and is active in energy retail, trading and origination. ENGIE owns 40% of Tabreed, the regional leader in district cooling, which is a key regional development platform. The Group is also a GCC’s leading Facility Management provider via ENGIE Cofely.
About ENGIE
Our group is a global reference in low-carbon energy and services. In response to the urgency of climate change, our ambition is to become the world leader in the zero-carbon transition of our customers, in particular businesses and local authorities. We rely on our key businesses (renewable energy, gas, services) to offer competitive turnkey solutions "as a service".
With our 160,000 employees, our customers, partners and stakeholders, we are a community of Imaginative Builders, committed every day to more harmonious progress.
Turnover in 2018: 60.6 billion Euros. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main financial indices (CAC 40, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe) and non-financial indices (DJSI World, DJSI Europe and Euronext Vigeo Eiris - World 120, Eurozone 120, Europe 120, France 20, CAC 40 Governance).
Press contact:
Majda Soussi
ENGIE Middle East, South & Central Asia and Turkey
External Communication and Media Relations Manager
Ruth Killen
THC (On behalf of ENGIE MESCAT)
+971 502432605
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