Bouygues completes the acquisition of Equans and takes a key step forward in its development

Client successes

Crédit Agricole CIB acted as financial advisor to Bouygues in its historic acquisition of Engie’s large multi-technical services entity, Equans, completed on 4 October.

installations électriques

Bouygues won the call for tenders launched by Engie in November 2021. In early October, the competent authorities issued all the necessary approvals for finalising the acquisition of Equans.  

The transaction will make Bouygues a world leader in the buoyant multi-technical services market, the business activities of which are central to the environmental, industrial and digital transitions. In particular, these businesses develop solutions to optimise energy consumption, a highly strategic issue in today’s environment.

To create the new world-leading group, which will keep the Equans name, Bouygues' Energy & Services businesses, currently part of Bouygues Construction, will join those of Equans at the beginning of January 2023. The new entity will become the Group's leading business in terms of revenue (approximately €17 billion annually) and workforce (some 97,000 employees).

Operating in a resilient and buoyant market, the new group will benefit from decisive advantages: 

  • A leading position in the market for multi-technical services, encompassing electrical engineering, HVAC, mechanical engineering and robotics, information and telecommunication systems, facility management, and the smart city; 
  • Strong local presence in targeted countries; 
  • Recognised know-how and a portfolio of well-known brands, both in local services and in specialised activities; 
  • The ability to design and implement sustainable and innovative products and services.

The transaction is Bouygues’ largest ever. Illustrating the close ties between Crédit Agricole CIB and Bouygues, it stands as a landmark transaction that highlights the Bank's expertise in the industry and services sector. Crédit Agricole CIB provided the client with a complete service, including advisory, financing and interest rate hedging.

“Our close relationship with Bouygues was crucial to have the proper strategic dialogue well ahead, and to position Crédit Agricole CIB at the heart of this emblematic M&A transaction. The Bank also brought top notch advise and execution on highly structured hedging and financing”.
Dominique Fournier, Senior Banker 

“This is a landmark transaction for the Industrials & Services Investment Banking franchise and a reward for our continued efforts.”
Sébastien Rapin, Managing Director, Head of Industrials & Business Services 

Client successes

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