Vinci Energies is acquiring German company Converse Energy Projects, a Schneider Electric subsidiary specialising in turnkey industrial power distribution projects in Germany.
With annual revenue of about €140m, Converse has 300 employees at 22 sites.
Vinci said the acquisition will expand its Actemium brand’s range of complex low and medium voltage industrial solutions in Germany.
The deal includes a long-term cooperation and supply agreement under which Actemium becomes a "special partner" with Schneider Electric.
The acquisition is subject to approval by the competition authorities and should be concluded within the next weeks, Vinci said.Â
"We are very happy that Converse is joining our Actemium experts. Its integration will enable us to offer customers an even broader, even more effective range of services," said Frank Westphal, managing director of Vinci Energies in Germany.
"With the separation of Schneider Electric’s energy complex projects activities in Germany, our goal is to meet the needs of our 1,000 customers in the sector, gain products and systems market shares and improve Converse’s position as an integrator," said Christophe de Maistre, President, Zone DACH (Germany, Austria and Switzerland) at Schneider Electric.
Image by Bo Mathisen, courtesy of Vinci