With the purchase of Equans from Engie on 4 October 2022, Bouygues completed the largest acquisition in its history. Adding Bouygues’ Energies and Services activities to Equans will create the Group’s largest business segment by sales and workforce, a global leader in energies and value-added services, and a preferred partner of its customers.

By Céline de Buttet et Ysée Nicaud

what is equans?

In 2016, Engie, the world’s third-largest group in the energy sector excluding petroleum-based energy companies, began a toptobottom transformation prompted by the energy and digital transitions. In July 2020, it announced that it would split up its activities in early 2022, and in July 2021, it grouped its energy services under the name Equans (EQUations set by the energy, industrial, and digital transitions and ANSwers to them).

Equans’ missions are to connect, protect, and supply energy to territories, cities, buildings, and transportation infrastructures, giving priority to innovative, customized, and green solutions. Its wide range of expertise includes electrical engineering, climatic engineering, HVAC, fire protection, mechanical engineering, robotics, data and telecommunications systems, renovation, multi-technical maintenance, and facility management.


Billion euros: the final amount
to acquire Equans’ shares


Billion euros in combined sales

90 000

Employees in the newly
formed company

Main steps in the acquisition


At the end of a competitive process, Engie selects Bouygues, which signs a promise to purchase for the acquisition of Equans.


Signature of the acquisition contract following its approval by the representives of Equans and Engie’s employees.


Authorization of Bouygues’ acquisition of Equans by the European Commission on condition that Bouygues fulfills its commitment to sell Colas Rail Belgium.

In the UK, the Competition and Markets Authority (CMA) expresses concern about the tendering for the catenary on High Speed 2 (HS2). Bouygues and Equans submit their proposals in late January, and these are accepted by CMA on 27 September.


Completion of the acquisition for €6.1 billion. Bouygues becomes the sole shareholder of Equans.

January 2023

The Bouygues group’s Energies and Services arm (Bouygues Energies & Services and Kraftanlagen München) merge with Equans.

The acquisition of Equans is a great opportunity to create a global leader with strong local roots – a leader that will play a central role in meeting the challenges posed by the environmental, industrial, and digital transitions; that will work to achieve more sustainable growth and lower energy consumption; and that will assist our customers in their transition to lowcarbon activities.

Olivier Roussat

CEO Of Bouygues