Primeo Energie acquires a majority holding in Energies Libres
This acquisition confirms the appeal of the French energy market. It reflects the market consolidation trend and signals the convergence of established utility companies and new entrants specialising in renewable energy. Primeo Energie is adding to its electricity operations in France by acquiring 65% of Energies Libres (formerly Enel France), a subsidiary of Lucia Holding AG. In parallel, EBM Energie France, a subsidiary of Primeo Energie, is being integrated into the Energies Libres Group, which is to be renamed Primeo Energie France. Primeo Energie France is based in Paris, employs 25 persons and totals about two terawatt hours of supplied energy. The company provides electricity and gas supply solutions to major national clients, local communities, SMEs and individuals throughout France.
Primeo Energie (formerly EBM) has a long history in the canton of Basel-Landschaft, Switzerland, going back to 1897 and has a carbon-free production site in Europe. The company has been in France since 1906, it has its own electricity network, and supplies electricity to Saint-Louis and eleven other municipalities in Alsace. Moreover, the subsidiary EBM Energie France has been working with major clients in the liberalised French market since 2010. As part of its growth strategy, Primeo Energie is acquiring a majority holding in Energies Libres, a subsidiary of Lucia Holding AG. Energies Libres has been expanding in the French open energy market for a number of years, it has a significant national presence and, having sold in excess of 50 TWh, extensive experience in the private and commercial client segment.
As part of the acquisition, EBM Energie France will be integrated into Energies Libres Group, the company renamed Primeo Energie France. Primeo Energie (Switzerland) and Lucia Holding AG hold hold 65% and 35% of Primeo Energie France respectively.
The acquisition of Energies Libres is part of the development strategy of Primeo Energie in France. The transaction opens up access to SME-SMI clients targeted by Energies Libres through technical and commercial expertise developed specifically for this segment. It also enables the extension of dual electricity/gas offers generated by Primeo Energie France to all clients, as opposed to just industrial clients and major accounts.
With 25 employees and 2 TWh of supplied energy, the new company has the skills and agility to innovate and propose energy solutions and services to its clients. It has two shareholders, both energy providers, with a major carbon-free production site, giving it the prospects and means to achieve long-term growth.