Deloitte Romania assisted Veolia Romania in the acquisition of the majority stake in General Me.el Electric (GME), one of the most dynamic Romanian companies specializing in the design, execution and maintenance of electrical systems, as well as in the production of solar electricity and storage in battery systems.
Through this acquisition, Veolia Romania completes its portfolio of energy services and becomes an integrated provider of public utility services, complementing existing solutions in water, sewage, gas and thermal energy.
Following the transaction, GME's management will retain a stake in the company and will remain active to ensure continuity for ongoing projects, benefiting from Veolia's international resources and know-how.
The Deloitte Romania multidisciplinary team assisted Veolia in the financial and tax due diligence stages and during the negotiation and signing of the sale-purchase agreement. The financial consultants involved in this project are Radu Dumitrescu, Partner-in-Charge, Vlad Balan, Director, Sorin Rugina, Manager, Catalina Nechita, Senior Associate, Daniel Mircia and Vlad Muresan, Associates. From the Tax practice, the project team was made of Dan Badin, Partner, Laura Bobar, Director, Alexandra Pana-Bacescu, Manager, Ana Bica, Senior Consultant, and Cosmin Visca, Consultant.
"By engaging in this transaction, which brought together the international expertise of a global company and the local entrepreneurial tenacity, we had a new opportunity to be part of the energy services consolidation process, a key area of the economy. The project is even more important, as it will contribute to the sustainable development of the energy sector in Romania, in a context where the energy transition is a national and a European priority," said Radu Dumitrescu, Advisory Partner-in-Charge, Deloitte Romania.
Veolia Romania has 3,600 employees and offers water and energy management solutions, serving over 2.1 million consumers. Veolia Group operates on five continents with approximately 215,000 employees and is organized into three main divisions – water, waste and energy management.
General Me.el Electric has been active on the local market for more than 30 years and its portfolio includes projects with a total installed capacity of over 200 MW, including a 62 MW photovoltaic park currently under construction, as well as battery storage systems with a combined capacity of over 15 MWh.
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