ENGIE acquires Thermaire Investments and Ampair, two key players in HVAC services

ENGIE recently announced that an agreement was reached with two South African energy services companies, Thermaire Investments (Pty) Ltd and Ampair (Pty) Ltd to acquire 100% of their respective shares. Together, both companies employ more than 500 people across South Africa, Botswana and Mozambique, and are major players in the HVAC installation and service segment in their respective markets.

Jointly, the acquired companies will form the largest South African HVAC contractor with a strong capacity to export its skills cross-border and into the greater Southern African region.

 “We are proud of this first step in the business to business market and excited about jointly exploring further opportunities in the region,” says Mohamed Hoosen CEO of ENGIE Southern Africa.

As a global energy company and expert operator in Renewables and Energy Storage, Lighting, Heating and Cooling Systems, and Energy Management and Controls, ENGIE is embarking on an acquisition strategy to grow its presence in the African market.

JP Hargovan, CEO of Thermaire Investments adds: “As one of the oldest established HVAC businesses in Southern Africa, we are thrilled at the prospect of developing and growing our business in line with the greater ENGIE strategy.”

Thermaire Investments and Ampair are affiliated companies often working together to offer clients supply, installation and maintenance services within the HVAC industry. They have built strong partnerships with customers in a large variety of activities including power plants, commercial buildings, shopping malls and data centres.

Bob Forbes, CEO of Ampair says: “Ampair is ecstatic at the opportunity to work hand in hand with ENGIE and believes that the value add from the ENGIE company will summersault Ampair into another league. This, coupled with the new technology being developed within the existing Ampair Group will benefit our existing client base and any new clients that will be introduced by ENGIE going forward. Furthermore, ENGIE will bring stability to Ampair at a time when Ampair is experiencing in excess of 30% growth based on the employment of top end engineers and technicians.”

ENGIE activities in South Africa are currently concentrated on centralised generation assets. This success comes after commissioning of the 670 MW Avon Peaking Power, 335 MW Dedisa Peaking Power, 94 MW Aurora Wind Power and the combined 21 MW Aurora-Rietvlei Solar Power and Vredendal Solar Power Park (Photovoltaics), as well as the ongoing construction of the 100 MW Kathu Solar Park (Concentrated Solar Power).

With Thermaire and Ampair, ENGIE aims to develop a regional platform to offer energy services to the public, industrial and commercial building sectors.

Completion of the transaction is conditional on approvals of the relevant regulatory bodies.

Source APO