French company ENGIE acquires Thermaire Investments and sister company Ampair in a major step in developing its energy services in Southern Africa.
Thermaire Investments (Pty) Ltd and Ampair (Pty) Ltd announces that an agreement was reached with ENGIE to sell 100% of their respective shares. Jointly, the acquired companies will form the largest South African HVAC contractor with a strong capacity to export its skills cross-border and into the greater Southern African region.
“We are proud of this first step in the business to business market and excited about jointly exploring further opportunities in the region,” says Mohamed Hoosen CEO of ENGIE Southern Africa.
As a global energy company and expert operator in Renewables and Energy Storage, Lighting, Heating and Cooling Systems, and Energy Management and Controls, ENGIE is embarking on an acquisition strategy to grow its presence in the African market.
JP Hargovan, CEO of Thermaire Investments adds: “As one of the oldest established HVAC businesses in Southern Africa, we are thrilled at the prospect of developing and growing our business in line with the greater ENGIE strategy.”
Bob Forbes, CEO of Ampair says: “Ampair is ecstatic at the opportunity to work hand in hand with ENGIE and believes that the value add from the ENGIE company will summersault Ampair into another league. This, coupled with the new technology being developed within the existing Ampair Group will benefit our existing client base and any new clients that will be introduced by ENGIE going forward. Furthermore, ENGIE will bring stability to Ampair at a time when Ampair is experiencing in excess of 30% growth based on the employment of top end engineers and technicians.”
ENGIE activities in South Africa are currently concentrated on centralised generation assets. This success comes after commissioning of the 670 MW Avon Peaking Power, 335 MW Dedisa Peaking Power, 94 MW Aurora Wind Power and the combined 21 MW Aurora-Rietvlei Solar Power and Vredendal Solar Power Park (Photovoltaics), as well as the ongoing construction of the 100 MW Kathu Solar Park (Concentrated Solar Power).
With Thermaire and Ampair, ENGIE aims to develop a regional platform to offer energy services to the public tertiary, industrial and commercial sectors.
About ENGIE AFRICA
ENGIE has been present in Africa for 50 years, where it rolls out its electricity generation, natural gas and energy services activities for territories, companies and households. ENGIE has centralized electricity capacities of approximately 3,000 MW in Africa, either operational or under construction. ENGIE is also developing decentralized electricity production for isolated businesses and rural villages. For more information visit www.engie-africa.com
ENGIE is committed to take on the major challenges of the energy revolution, towards a world more decarbonised, decentralised and digitised. The Group aims at becoming the leader of this new energy world by focusing on three key activities for the future: low carbon generation in particular from natural gas and renewable energies, energy infrastructures and efficient solutions adapted to all its clients’ needs (individuals, businesses, territories, etc.). The customers’ satisfaction, innovation and digital are at the heart of ENGIE’s development. ENGIE is active in around 70 countries, employs 150,000 people worldwide and achieved revenues of €66.6 billion in 2016. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main financial indices (CAC 40, BEL 20, 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).