Energy and services group ENGIE completes Smart acquisition
ENGIE, the energy, services and regeneration group, has acquired a Leeds-based company that specialises in smart buildings solutions for an undisclosed sum.
The group said that the acquisition of Smart Buildings Limited will provide “a step change a step change in ENGIE’s smart buildings capabilities and will significantly enhance the solutions the company is able to offer customers.”
ENGIE will now be able to combine this with Smart Buildings Limited’s expertise in developing ‘Internet of Things’ (IoT) technology and integration of devices to give customers an improved building management experience.
Smart Buildings has worked closely with clients such as Barclays Bank, Lookers and JCT600 to introduce smart technologies to their businesses.
Barclays Bank’s engineering team worked with Smart Buildings to develop a bespoke ‘software-as-a-service’ (SaaS) application. This interacts with building equipment to give improved central visibility of the systems in Barclays’ property portfolio through a fully interactive platform.
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 cutting-edge technology that Smart Buildings Limited has developed, with our strength in FM & energy, we will be able to add even greater value for our customers in helping them to improve their performance, optimise their workplaces and increase employee wellbeing.”
Mark Davenport, CEO of Smart Buildings, added: “Our philosophy is to innovate by leading through IoT technology, and to integrate by normalising every device that can communicate, thereby empowering users to interact and control their worlds.
“Becoming part of ENGIE will take full advantage of the synergies between our organisations and create many more opportunities to deploy our smart buildings services.”
Legal advice to the selling shareholders was provided by Lupton Fawcett, led by corporate partner Giles Clegg.
Clegg said: “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.
Coleman added: “We have acted for Smart Buildings since its incorporation in 2012 and seen it grow and develop into its current market leading position. We are delighted that the founders have realised their investment in the company and that we were able to assist them through the sale.”
