M&A: Bureau Veritas Acquires Renewable Energy Consultancy ArcVera

Bureau Veritas has acquired ArcVera Renewables, a renewable energy consulting firm focused on wind, solar, and battery storage projects worldwide. Financial terms of the deal were not disclosed.

This is M&A deal number 262 that Sustainable Tech Partner has covered so far in 2024. Related: See all M&A deals involving sustainability, climate tech and green IT services listed here.

Renewable Energy Consultancy M&A: Business Backgrounds

ArcVera, founded in 2017, is headquartered in Golden, Colorado. The company generated revenue of €6.5 million (US$7.2 million) in 2023. ArcVera provides consulting and technical services for wind, solar and storage projects worldwide. Key services include prospecting and resource assessment, independent technical and financial engineering, as well as plant optimization, operations and repowering. The company has subsidiary offices in India, Brazil, and South Africa.

Bureau Veritas, founded in 1828, is based in Courbevoie, France. The company provides inspection, certification, and laboratory testing services. Bureau Veritas has 83,000 employees focused on such areas as quality, health and safety, environmental protection, and sustainability.

Bureau Veritas Acquires North American Renewable Energy Consulting Firm: Executive Perspectives

In a prepared statement, Bureau Veritas CEO Hinda Gharbi said: “The acquisition of ArcVera Renewables supports our LEAP | 28 strategy, aimed at expanding our services and strengthening our position as a leader in the renewables and power generation sector. ArcVera Renewables has built a reputation for excellence in due diligence and operational verification on renewable projects. Their expertise will be a valuable addition to Bureau Veritas’s portfolio of capabilities for the energy transition services. I warmly welcome all new colleagues from ArcVera Renewables to Bureau Veritas.” 

Added Greg Poulos, CEO of ArcVera Renewables: “We saw how the broad and deep technical prowess of Bureau Veritas would be a powerful catalyst for ArcVera Renewables. Since inception, our goal has been to accelerate the clean transformation of the world’s energy sector by delivering trustworthy, valuable, detailed, and independent technical analysis for the success of our clients. Joining Bureau Veritas is a leap forward in achieving this goal and is likewise transformational for the ArcVera team and its growing global renewable energy client-base.”

Bureau Veritas has extensive M&A experience. The company acquired Security Innovation in July 2024, and Impactiva Group in December 2023.