French utility giant GDF Suez has acquired Balfour Beatty’s WorkPlace facilities and energy management division for £190m.
The acquisition, announced on 9 August, will boost GDF’s own facilities management activities through its Cofeley brand. This focuses on energy and environmentally efficient facilities management.
GDF estimates the deal will generate combined annual revenues of about £800m.
Balfour Beatty WorkPlace (BBW) employs 9,000 workers and manages energy consumption across 9 hospitals, 500 government buildings, eight nuclear power plants and 200 schools. It generated revenues of £482m in 2012.