COFELY Services Inc.

COFELY Services Inc.

January 17, 2012 14:21 ET

COFELY Acquires ADELT Mechanical Works

Expansion in Canada continues

MONTREAL, QUEBEC--(Marketwire - Jan. 17, 2012) - COFELY (GDF SUEZ) has completed the acquisition of ADELT Mechanical Works (ADELT), one of Canada's largest and most reputable mechanical contracting and service companies. The takeover enables COFELY to offer its services across Canada, having been present in Quebec for 20 years.

ADELT Mechanical Works has operated from offices in Toronto and Vancouver since 1977 and employs approximately 275 people. The company is a reference in plumbing, heating, ventilation, air conditioning and refrigeration activities. With an annual revenues in excess of 60M $, ADELT has completed projects across Canada and is well placed to complement COFELY's existing construction capabilities, services and geographical footprint in markets such as data centres, commercial, institutional and industrial facilities, district energy projects and Public Private Partnerships, as well as airports.

COFELY has been a leader in its field of activity in the Greater Montreal & Quebec area, and now turns to the Vancouver and Toronto regions, the latter represents 60% of the Canadian commercial real estate market and is the 4th largest industrial market in North America, after Los Angeles, Chicago and New Jersey.

Francois Dépelteau, CEO & President of COFELY in Canada: "The acquisition of ADELT is an important part of the development and sustainability of our business. With the quality skills and geographical presence that ADELT can provide, this acquisition places COFELY in a stronger position to provide our clients with a vast range of multi disciplined skills and services required to manage facilities and projects across Canada."

Reciprocally, COFELY will allow the expansion of ADELT's service offering with Performance Based contracts, Total Warranty contracts, Energy Mgt contracts, District Energy, PPP contracts, airport services, etc. The current owners, Scott Munro (CEO) and Don Evans (COO) will continue to manage the business and be part of the further coast-to-coast expansion of COFELY in Canada. The acquisition will not impact the position of the 275 ADELT employees.

Scott Munro, CEO ADELT: "Becoming part of COFELY is an excellent opportunity for ADELT Mechanical Works to grow our business and tackle new challenges together. COFELY is a company of GDF SUEZ, which gives us the backing of a large global energy services organisation. We are very much looking forward to working together and making the most of the new opportunities that being part of COFELY will bring."


Cofely is Europe's leader in energy and environmental efficiency services, designing and implementing solutions to help businesses and public authorities make better use of energy, whilst reducing environmental impacts. Cofely offers a unique combination of service expertise, from the design, installation and management of local & renewable energy solutions, to the operational delivery of integrated facilities services. In Canada alone, COFELY manages and operates over 25 million square feet of facilities in different sectors. COFELY is the #1 outsourcer of airport specialty services, operating on over 30 international airports all over the globe. In North America, COFELY is active on 7 airports, with projects in many more. COFELY is also one of the global leaders in district energy and Public Private Partnerships.

COFELY is part of GDF SUEZ Energy Services, one of the business lines of GDF SUEZ which employs 76,000 people in over 30 countries with a turnover of $19 billion in 2010. GDF SUEZ Energy Services is the #1 technical services provider and the #1 Mechanical-Electrical contractor in the world.

GDF SUEZ develops its businesses around a model based on responsible growth to take up today's major energy and environmental challenges: meeting energy needs, ensuring the security of supply, combating climate change and optimizing the use of resources. The Group provides highly efficient and innovative solutions to individuals, cities and businesses by relying on diversified gas-supply sources, flexible and low-emission power generation as well as unique expertise in four key sectors: liquefied natural gas, energy efficiency services, independent power production and environmental services. GDF SUEZ employs 218,350 people worldwide and achieved revenues of €84.5 billion in 2010. The Group is listed on the Brussels, Luxembourg and Paris stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ Stoxx 50, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, ASPI Eurozone and ECPI Ethical Index EMU.

ADELT Mechanical Works

Founded in 1977, ADELT Mechanical Works is a full service, unionized, mechanical contractor and service provider that employs the major trades necessary to carry out plumbing, heating, ventilation, air conditioning and refrigeration requirements.

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