Cologne, 19 December 2018 - ENGIE Deutschland GmbH has signed the share purchase agreement for the acquisition of technology and service specialist OTTO Luft- und Klimatechnik GmbH & Co. KG (OTTO). With this acquisition, ENGIE Deutschland strengthens its leading position for technical building services. Details of the deal are undisclosed. The acquisition is still subject to approval by relevant cartel authorities.
OTTO counts among the most renowned specialist companies for ventilation installation and services in Germany and looks back on a successful company history of more than 50 years. The Bad Berleburg based company is represented throughout Germany and works for clients from industry, trade and commerce as well as public authorities. OTTO’s portfolio covers ventiation and air-conditioning systems solutions for office and industrial buildings as well as clean rooms and bespoke service and maintenance offers. Apart from engineering and planning competence, the company also offers a high degree of value added in installation and assembly through its own skilled personnel. OTTO has a staff of 700 and will record an annual turnover of around 120 Million Euro in 2018 (estimate).
In Germany, ENGIE, with its 4,000 employees is active along the entire energy value chain, offering innovative technical, energy and service solutions for clients from industry and commerce as well as public authorities. We are also present on B2C markets through partnerships with Stadtwerke. We generate power and heat from renewable sources, such as onshore wind farms, hydro and from conventional power plants. We also operate energy storage facilities and act as green mid-streamer to offer green Power Purchase Agreements to industrial clients. Finally, we propose engineering and consulting services for complex infrastructure projects in the areas of energy, water, hydropower as well as construction and transportation. Total turnover in 2017 amounted to 2.66 Billion Euro.
This acquisition perfectly fits with ENGIE’s strategy to strengthen its position in Building Services and reinforces its design, planning and execution capabilities. This transaction will immediately boost ENGIE’s growth on this market in Germany.