August 20, 2026 [Storage Terminals Magazine]- Energy One Limited and Fluxys have entered into a Share Purchase Agreement under which Energy One will acquire 100 percent of Fluxys’ UK-based affiliate, GMSL, while Fluxys will become a strategic shareholder in Energy One with an 18.26 percent stake.

The proposed transaction represents the largest acquisition in Energy One’s history and a significant milestone in the company’s European growth strategy. By combining complementary software, connectivity, market operations and 24/7 operational service capabilities, the deal is expected to strengthen Energy One’s position in European energy markets, broaden its customer base and support its long-term growth ambitions.

The combination of Energy One and GMSL will create a broader software and services platform, bringing together greater scale, expertise and market coverage across European gas and power markets.

Fluxys, which has owned GMSL since 2002, will remain closely involved in the combined business as a significant shareholder and key customer of Energy One. Its 18.26 percent ownership interest is expected to provide a long-term strategic relationship between the two companies.

Energy One CEO Ben Tranier said GMSL’s expertise in European energy market software, 24/7 operational services and market connectivity would complement Energy One’s existing capabilities.

According to Tranier, the combination will enhance the group’s ability to support customers operating in increasingly complex gas and power markets, while creating opportunities to integrate the expertise and experience of both organisations into a broader energy software and services platform.

He added that maintaining service quality, supporting customers and preserving the expertise, culture and customer focus of both businesses would remain priorities during the integration process.

Fluxys Managing Director and CEO Pascal De Buck said the transaction represented an opportunity to combine GMSL’s expertise and product portfolio with Energy One’s integrated solutions, creating a stronger offering for customers across gas, power and renewable energy markets.

As part of the transaction, Fluxys will become a strategic anchor shareholder in Energy One, reflecting its long-term commitment to supporting the growth of both Energy One and GMSL.

GMSL COO George Wych said the transaction would mark a new chapter for the company following three decades of development. He said combining GMSL with Energy One would create an organisation with broader capabilities and open additional opportunities for customers, employees and partners.

The transaction remains subject to shareholder approvals and other completion conditions. Completion is expected to take place before the end of the year.