Tractebel acquires majority stake in RED
Tractebel, a global engineering company and part of ENGIE, has announced its acquisition of a 70% 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, which completed in 2016.
Headquartered in London and with international hubs in Dubai and Singapore, RED employs over 160 staff. 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, Innovative Energy-Efficient Project and MEP Innovation of the Year.
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.”