BUTEC ENGIE Morocco PMI
Interim CFO and PMO Manager for BUTEC's acquisition of ENGIE Morocco energy services division, managing post-merger integration for 1,500 employees.
Project Context
In 2022, BUTEC GROUP HOLDING, a Moroccan industrial conglomerate, acquired ENGIE Morocco's energy services division—a significant business employing 1,500 people and generating 600 million MAD in annual revenue. This acquisition represented a major strategic move for BUTEC, expanding its capabilities in energy efficiency, facility management, and technical services.
However, post-merger integration (PMI) of a large, complex organization requires meticulous financial management, operational coordination, and change management. BUTEC needed experienced interim leadership to serve as CFO and PMO Manager during the critical integration period, ensuring financial control, operational continuity, and successful cultural integration while maintaining business performance.
Key Challenges
- •Managing financial integration of a 600M MAD business with 1,500 employees across multiple sites and service lines
- •Establishing financial controls, reporting systems, and governance frameworks aligned with BUTEC's standards
- •Coordinating PMI workstreams (finance, HR, operations, IT, legal) while maintaining business continuity and client service quality
- •Managing cultural integration between ENGIE's multinational corporate culture and BUTEC's Moroccan industrial group culture
- •Retaining key talent and maintaining employee morale during ownership transition and organizational change
EXXING's Approach
Interim CFO Leadership
Assumed full CFO responsibilities for the acquired ENGIE Morocco entity, managing financial operations, cash flow, treasury, accounting, financial reporting, and audit coordination. Established financial controls and governance frameworks aligned with BUTEC's corporate standards while maintaining compliance with Moroccan accounting and tax regulations. Provided financial leadership to the finance team (20+ staff) during the transition period, ensuring continuity and professional development.
PMO Management & Integration Planning
Established and led the Program Management Office (PMO) coordinating all post-merger integration workstreams: finance, human resources, operations, IT systems, legal, and commercial. Developed detailed integration roadmap with milestones, dependencies, and success metrics. Facilitated weekly steering committee meetings with BUTEC and former ENGIE leadership to track progress, resolve issues, and make integration decisions. Managed integration budget and resource allocation across workstreams.
Financial Systems Integration
Led integration of financial systems, including ERP migration, chart of accounts harmonization, reporting consolidation, and banking relationships transfer. Coordinated with IT teams to ensure data integrity, system security, and business continuity during technical transitions. Established integrated financial reporting providing BUTEC management with consolidated visibility across the expanded group. Implemented cost synergy initiatives identified during due diligence (shared services, procurement optimization).
Stakeholder Management & Change Leadership
Managed stakeholder communications and change management across 1,500 employees, ensuring transparency, addressing concerns, and maintaining morale during ownership transition. Coordinated with HR on talent retention strategies for key employees. Maintained relationships with major clients to ensure service continuity and contract renewals. Engaged with external stakeholders (banks, auditors, regulatory authorities) to manage transition smoothly and maintain business reputation.
Results & Impact
Successful Integration
Completed 9-month post-merger integration on schedule, achieving all major milestones including financial systems consolidation and organizational alignment.
Financial Control & Governance
Established robust financial controls, reporting systems, and governance frameworks providing BUTEC management with full visibility and control over the acquired business.
Business Continuity
Maintained operational performance and client service quality throughout integration period, with no major client losses or service disruptions.
Talent Retention
Successfully retained key management and technical talent through effective change management and stakeholder engagement, preserving critical organizational capabilities.
Strategic Impact
The BUTEC PMI mission demonstrates EXXING's ability to provide senior interim management for complex post-merger integrations in industrial sectors. Serving simultaneously as CFO and PMO Manager, EXXING combined financial leadership with program management expertise to deliver a successful integration of a large, complex business.
This case illustrates the value of experienced interim executives who can provide both functional leadership (CFO) and cross-functional coordination (PMO) during critical transition periods. The integration frameworks, financial controls, and governance structures implemented during this mission continue to serve BUTEC's expanded energy services business, demonstrating the long-term value of structured PMI execution.
Methodology & Expertise
This mission leveraged EXXING's expertise in financial management, post-merger integration, and interim executive leadership. The approach combined CFO responsibilities with PMO coordination.
CFO Leadership
Financial operations, controls, reporting, treasury management
PMO Management
Integration planning, workstream coordination, milestone tracking
Change Management
Stakeholder engagement, communication, talent retention
Managing a Post-Merger Integration?
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