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Fri October 18 2019

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Vinci buys two power grid specialists

2 Nov 17 Vinci Energies has agreed to buy two European companies that specialise in electrical grids.

Infratek and Horlemann together represent €400m (£350m) turnover in four countries: Germany, Sweden, Norway and Finland. The acquisitions are intended to boost the position of Omexom, Vinci Energies’ business dedicated to power grid and energy transmission.

Vinci Energies has reached an agreement with Triton Partners to acquire of all the shares Infratek, a  ‘total supplier’ in the Nordic region in the fields of electrical grids, lighting and railway systems. It serves clients such as national and regional grid operators and utilities. Infratek operates in the renewable energies market and in the connection of charging stations for electrical cars. It employs about 1,350 people and generated revenue of more than €300m in 2016. The company is based in Norway and also carries out its business activities in Sweden and Finland. The acquisition is subject to the approval of the Norwegian and Swedish competition authorities.

Horlemann, which is based in the Ruhr region and in the Berlin area of Germany, has been family-owned since 1933. It had an annual turnover around €100 million in 2016 and employs 570 people. The company specialises in the engineering, construction and maintenance of electrical grids as well as lighting operations and automation process dedicated to electrical grids. Clients are mostly German local authorities and local operators. The acquisition is subject to the approval of the German competition authority.

Vinci Energies’ chairman and chief executive officer Yves Meignié said "With these two new acquisitions, Vinci Energies is continuing to extend and consolidate its operations in Northern Europe, particularly in Norway and in Finland where we had no former location. Horlemann will reinforce our position on the German market in regions where we are not active yet, and develop expertise on new markets ahead regarding renewable energies. It reinforces our brand Omexom, which stands for 20% of Vinci Energies’ turnover, as a major player in the European market."

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