- TotalEnergies sells GreenFlex to Oteis to focus on energy production.
- Oteis has over 800 employees and operates in construction, water, infrastructure, and industry.
- GreenFlex will help Oteis expand in environmental consultancy and low-carbon energy.
- TotalEnergies will remain a major GreenFlex customer post-divestment.
Transaction Overview
TotalEnergies has agreed to sell its sustainable consultancy and solutions affiliate, GreenFlex, to the French consulting and engineering group Oteis. This move aligns with TotalEnergies' strategy to focus on energy production and supply.
Oteis' Expansion
Oteis, with over 800 employees and around thirty agencies across France and Europe, operates in construction, water and development, infrastructure, and industry. The acquisition of GreenFlex is expected to bolster Oteis' capabilities in environmental and social consultancy, low-carbon energy performance, and transition financing.
Opportunities for GreenFlex
For GreenFlex, the acquisition presents an opportunity to expand into new markets while continuing to support businesses and regions in becoming more sustainable, decarbonizing, and improving energy efficiency.
Future Collaboration
Post-divestment, TotalEnergies will remain a significant customer of GreenFlex, having signed a contract for the production of French Energy Saving Certificates (CEEs).
Regulatory Approvals
The completion of the transaction is subject to standard conditions, including consultation with employee representatives and approval from competition authorities.
