TotalEnergies has formalised the sale of its subsidiary GreenFlex to French consultancy and engineering group Oteis. The transaction, still subject to standard regulatory conditions, includes consultation with employee representative bodies and approval from competition authorities.
With this divestment, TotalEnergies continues its strategy of focusing on its core business: energy production and distribution. However, the company will retain an operational link with GreenFlex by becoming one of its major clients through an energy savings certificate production contract.
A strategic acquisition to strengthen Oteis’ service offering
Oteis, which employs more than 800 staff and operates around 30 offices in France and Europe, views this acquisition as an opportunity to consolidate its expertise in environmental consulting, energy performance, and transition financing. The integration of GreenFlex reinforces a growth strategy based on expanding capabilities through the acquisition of complementary entities.
GreenFlex, specialised in services related to sustainable development, will gain access to new markets through the transaction, while continuing to support businesses and local authorities in their decarbonisation and energy efficiency goals.
Operational continuity for GreenFlex
The merger aims to create a key player in the field of environmental consulting and solutions. Oteis plans to offer a comprehensive service portfolio by combining its engineering expertise with GreenFlex’s sectoral knowledge.
No information was disclosed regarding the transaction value or specific financial terms. The parties indicated that the process would proceed in accordance with current regulatory practices.
