ENGIE acquires Leeds' Smart Buildings solutions company
Leeds-based Smart Buildings Limited, a company that specialises in smart buildings solutions has been acquired by ENGIE.
The acquisition, for an undisclosed sum, will provide a change in ENGIE’s smart buildings capabilities, enhancing solutions the company is able to offer customers.
ENGIE’s heritage lies in facilities management, energy and energy services. The company will now be able to combine this with Smart Buildings Limited’s knowledge in developing ‘Internet of Things’ (IoT) technology and integration of devices.
Nicola Lovett, CEO of ENGIE’s business energy and services division, said: “This acquisition is the next step in achieving our goal of being a key player in the smart buildings market.
“We recognise that FM & energy markets are changing, and we are committed to being at the forefront of those changes.
“By combining the technology that Smart Buildings Limited has developed, with our strength in FM and energy, we will be able to add greater value for our customers in helping them to improve their performance, optimise their workplaces and increase employee wellbeing.”
Smart Buildings Ltd has already achieved wide recognition for its innovation, working with clients such as Barclays Bank, Lookers and JCT600 to introduce smart technologies to their businesses.
Legal advice to the selling shareholders was provided by Lupton Fawcett, led by corporate partner Giles Clegg, who commented: ’The management team at Smart Buildings has created and grown an innovative IT business based in Yorkshire.
“I am really pleased that they have realised the value of their hard work and that the Lupton Fawcett team have been able to support them through the process.”
Corporate Finance advice to the shareholders was provided by Ford Campbell Freedman, led by partner Dale Coleman.
This acquisition supports ENGIE’s goal of achieving 50 per cent of its UK revenues from business which combines energy and services activities by 2020.