Besix sells stake in FM company, rebranding creates Engie Cofely
French giant Engie has acquired the Belgian heavyweight's 50% stake in the firm that was formerly known as Cofely Besix FM
French multinational Engie has acquired Belgian construction giant Besix's 50% stake in Cofely Besix Facility Management (CBFM), with the facilities management (FM) and energy services company now rebranded as Engie Cofely.
The moves comes 11 years after Engie and Besix agreed a partnership in 2008 to create CBFM, which has since become one of the GCC’s biggest names in the FM sector.
The acquisition is the result of Engie's drive to become the “world leader in [the] zero-carbon transition, developing energy-efficient assets and putting a unique integrated approach” forward for its clients, according to a press statement.
Engie Cofely has 2,000 employees across the UAE and Oman, with its operations in the sultanate carried out with partner Daud. The company's portfolio of developments includes landmarks such as Dubai Mall, Al Sufouh Tram, and Abu Dhabi Airport.
Commenting on the transaction, Sébastien Arbola, chief executive officer of Engie Middle East, South, and Central (Mescat) said the move was a “game changer” for the company in the Middle East.
He added: “It integrates into our portfolio a technical services team with a strong local and regional reputation and provides a robust platform for future development across the region.”
Ian Harfield, chief executive officer at Engie Cofely, said: “We are excited to join the global Engie family and look forward to embarking on a new journey that will see [us combining] Engie's global expertise with CBFM’s robust geographical presence and capabilities.
"This will give our local customers the best of both worlds, while allowing us to expand further across the region.”
The news comes less than a month after Engie Cofely appointed Bart Holsters, who previously worked on Dubai’s Burj Khalifa, as its general manager for the UAE.