Clarke Energy buys Romania's TEB Energy Business, Greek unit Genelco

UK-based multinational company specialised in the engineering, installation and the maintenance of engine-based power plants Clarke Energy said on Friday it has acquired Romanian energy service company TEB Energy and its Greek subsidiary Genelco Power Systems.

The deal, whose value was not disclosed, includes the addition of 38 new employees and an installed gas engine fleet in these countries of more than 200 MW in the field, Clarke Energy said in a press release.

"TEB and Genelco are a great fit to join the Clarke Energy group of companies, and we share many synergies. We aim to support and grow these businesses using our expertise in the gas engine sector and continue to deliver industry-leading levels of equipment performance," Clarke Energy president Jamie Clarke said.

Like Clarke Energy’s core business, TEB and Genelco focus on delivering quality gas engine installations backed by reliable after sales support. Clarke Energy’s strengths in the fields of application engineering, project management and after sales service support will boost the offerings to TEB and Genelco customers in Romania and Greece, Carke Energy said.

TEB Energy Business is a distributor and provider of co-generation services and engines headquartered in Romania which also offers energy efficiency projects to a wide range of customers in industrial and biogas fields.

TEB founded Genelco Power Systems in 2011 in order to have a local distributor to sell engines and undertake the responsibility of providing maintenance services in Greece.

According to the company's website, GED Capital controls a 58.5% stake in TEB, while the rest is held by four businessmen.

Clarke Energy is a privately-owned multinational company specialising in the sale, engineering, installation and maintenance of power plants that use gas engines.

In 2017, U.S.-based engines and power generation systems maker Kohler acquired Clarke Energy.

Choose your newsletter by Renewables Now. Join for free!