Engie announces an agreement to buy Conti Corporation and its subsidiaries Indicon Corporation, Ion Electric, LLC and McGilvray Mechanical, LLC.
"We are pleased to welcome our 2,000 new colleagues from Conti. They will bring great wealth to our portfolio of activities and skills. Together, we will be able to extend our range of services while expanding and strengthening our geographic presence in North America, " said Franck Bruel, Executive Vice President of Engie, who supervises the North America, United Kingdom and Latin America Business Units. "We are also looking forward to welcoming clients of Conti, Ion, McGilvray and Indicon to our client base in North America, where we are working on more than 55,000 projects. With them, we will continue to develop our potential and devise comprehensive and innovative solutions to lead the zero-carbon transition."
The transaction is subject to several legal formalities, notably approval by the Federal Trade Commission, the U.S. competition authority. Closing of the transaction is scheduled for early July 2019.