Energy giant TotalEnergies has announced a deal to sell its GreenFlex affiliate company to Oteis, an independent engineering and consulting group based in France.
The divestment forms part of the wider strategy at TotalEnergies to focus on its traditional business of producing and supplying energy. The company also has a substantial lubricant and coolant business through the Total range of industrial and other fluids.
Oteis Conseil & Ingénierie comprises 30 agencies in Europe with more than 800 employees. It operates in fields like industry, construction, infrastructure and water. It has grown robustly in recent years after other similar acquisitions have enabled it to develop while absorbing new teams.
A press release from TotalEnergies described the operations of GreenFlex as follows:
“GreenFlex supports businesses and regional authorities from designing of their roadmap to launching of operations and ongoing monitoring. This end-to-end support is based on a multi-disciplinary model, combining consultancy, dedicated contacts, digital tools and financing. GreenFlex’s teams work in 19 offices across France and the rest of Europe.”
Subject to the usual procedures and authorisation, the deal is expected to allow GreenFlex to enter new markets. For its part, Oteis says that will seek to leverage the experience at GreenFlex in areas such as low-carbon energy performance, social and environmental consultancy and transition financing.
TotalEnergies says it expects to continue its relationship with GreenFlex going forward, but as a customer rather than a parent company. It indicated it would agree a contract to produce energy-saving certificates once the divestment is finalised.
