Tractebel acquires majority stake in award-winning innovative low-energy design consultancy
Tractebel, a global engineering company and part of ENGIE, has announced its acquisition of a 70 percent stake in RED, an award-winning consultancy specialising in the design of innovative and low energy Mechanical, Electrical and Public Health (MEP) services for data centres and commercial and hospitality buildings. The shareholders of RED were advised during the transaction by BCMS.
Headquartered in London and with international hubs in Dubai and Singapore, RED employs over 160 staff, and posted £11.9m revenues in 2015.
Since its foundation in 2004, RED has delivered over 200 data centre project designs, many of them achieving new energy benchmarks. Its portfolio of premium customers includes the world’s biggest data centre operators and investment banks.
The company has an extensive list of awards, including Mission Critical Engineer of the Year (2014 and 2013), Innovative Energy-Efficient Project (2013) and MEP Innovation of the year (2013 and 2011).
Daniel Develay, Chief Executive Officer of Tractebel said: “Our investment in a high level company like RED perfectly fits Tractebel’s vision to become the architect of energy transition and digital transformation, using state-of-the-art modelling and simulation tools. RED will continue to provide leading expertise in energy efficiency solutions for technical buildings and its consolidated presence in key international regions, mainly in Europe, Asia and the Middle East, also adds a strong competitive advantage to Tractebel’s existing offers in the infrastructure market.”
Commenting on the investment, Ian Whitfield, Managing Director of RED, said: “We are delighted with what RED has achieved since its formation 12 years ago, which has only been made possible by the fantastic team we work with. This investment provides exciting opportunities for RED to enter its next phase of further growth and development with its new partner, Tractebel and the wider ENGIE group. We look forward to continuing to provide a first-class service to both our existing clients and many new ones.”
Jude Robinson, Deal Leader at BCMS said: “RED is one of the top independent data centre engineering consultants in Europe. Understandably, there was significant international interest in the business, driven by its award-winning expertise, energy efficiency focus, and strategic international infrastructure. A dynamic, innovative company, RED has established prime positioning in a growing, mission-critical market. The global data centre construction market is forecast to grow significantly from $14.59bn to $22.73bn by 2019.
“With its focus on innovation, Tractebel is the ideal acquirer to maximise RED’s undoubted global potential. We are delighted to have played a role in this successful transaction, and wish all parties the very best as they look to take the business forward.”