Perez Companc Group acquired Tel3, a leading company in engineering, construction and services in the electric power and telecommunications field, whose turnover is $2.8 billion and which employs more than 500 people.

With an investment totaling over $900 million between the asset value and the short-term investment plan, Tel3 merges into Pecom Servicios Energía to boost and foster the growth of the two business units in which the acquired company has strong skills: the performance of electric power and telecommunications works and services.

As regards works and services in the electric power transmission sector, this operation represents the beginning of a leading path in the electric power market, the growth of which was driven by Perez Companc Group in the 90’s, when it led several companies in the sector, for example, Transener, leading a 10-year expansion of the national high-tension transmission system.

The fact of adding a specialized division in electric power transmission becomes especially important in a country where the bet on renewable energies and the distributed generation pose new interconnection challenges.

“It is a strategic operation for the Group that increases our role in energy services, not only in the oil & gas industry but also in the electric power sector. The acquisition of Tel3 places Pecom Servicios Energía in a new path of growth with electric power works and transmission projects. In addition, it diversifies us adding a new business unit of telecommunications, providing services to operators” Pablo Antunez, Perez Companc Group’s CEO, explained.

“In the 70-year history we have as a corporate group, energy has been one of the most important sectors in our track record. Currently, that history of the Group and the future of a country that requires energy to grow again converge and find us investing with the conviction of doing things well for the better future for Argentina” Luis Perez Companc, Perez Companc Group’s Chairman, stated.