Construction & Infrastructure
Triton exits specialty installation company EQOS in trade sale
The sale to Eiffage Énergie Systèmes comes after a 10-year holding period
CapMan exits Havator to construction joint venture
The seller first invested in the portfolio company in 2010
Mutares acquires Greenview Group from Cordovan Capital and CEO
The platform investment is Mutares' fourth acquisition in 2024
Mentha acquires majority stake in Belgian metal-coatings company SPC Group
The portco's founders, Anthony Demaerel and Yves de Mild, and broader management team will remain shareholders
Mutares powers up Polish high-voltage services business
The carve-out is the third transaction by Mutares in 2024
Fund in Focus: Manulife Strategic Secondaries Fund closes on more than €550m
The fund focuses on GP-led secondaries and has already commenced its deployment phase, global head of co-secondaries Jeff Hammer tells Real Deals
Sobro backs Swedish building consultancy
All existing owners will remain as "significant" shareholders
Ares and Farallon back Cairngorm Capital’s builders’ merchant group
Cairngorm Capital initially acquired the portco in 2018
Climatetech’s second wind
Climatetech has emerged as a pivotal sustainability investment theme for private equity. Xhulio Ismalaj explores the journey climatetech businesses have been through in the midmarket and finds out why the future for the subsector remains hopeful
PSG Equity sells Nalanda Global to Once For All
PSG will retain a minority stake in the combined business
ThinCats launches regional fund
The fund targets midsized SMEs across the UK
Bravo Capital Partners-backed In Group bolts on Tecno In
The deal represents In Group’s second bolt-on, after it acquired Insitu in December 2023
Ardian acquires green data centre platform Verne
The deal was signed in November last year when Ardian agreed to acquire the company for $575m
Talde Private Equity acquires Plymouth Group
The deal represents the fourth investment of Talde Capital Crecimiento II FCR fund
Inspirit Capital-backed Vysus Group carves out ModuSpec
The company has been bought by specialist offshore rig inspection company MR Group
H.I.G. exits ICG Group
The communications business has been sold to a trade buyer
Equistone-backed Buko bolts on Road Traffic Solutions
The GP will support the firm’s expansion in the UK and neighbouring countries
Triton Partners merges portcos to form Assemblin Caverion
The GP aims to create a Northern European technical service and installation specialist group
YFM exits Checkmate to IK
The buyer is investing from its IK Small Cap III Fund
GP Profile: Arca Space Capital
CEO Ugo Loeser tells Real Deals the PE fund is currently assessing two new deals
Connection Capital backs Winder Power MBO
The GP backed the management with a mix of debt and equity
Gresham House launches UK biodiversity fund
The vehicle will be part of Gresham House’s British Sustainable Infrastructure Fund strategy
Deal in Focus: Ambienta acquires Officine Maccaferri
Ambienta’s Mauro Roversi tells Real Deals the GP plans to support the firm via organic and inorganic growth
IK to acquire Eurofeu from CAPZA
CAPZA and Eurofeu’s management team will both be reinvesting in the portco
Auctus exits Profiltubi Group
The GP first invested a majority stake in the business in 2020
Fund in Focus: Epiris Fund III holds final close on £1.044bn
Alex Cooper-Evans, partner, tells Real Deals the fund had strong re-ups from existing LPs
Deutsche Invest-backed Brick Group bolts on Tank & Becker
It is the first acquisition since the GP formed Brick Group in 2023
Ufenau Capital-backed KSG bolts on Defluo and Maxicleaning
KSG has completed more than 20 bolt-on acquisitions since the GP’s investment in 2017
Gresham House Ventures sells Master Removers stake
Gresham initially invested £7.2m in the business in December 2014
Accent Equity portco acquires CM Betong
The GP acquired a majority ownership in Linotol in 2023
Key Capital picks up minority stake in SJA
It is the sixth investment from Key Capital Partners Fund IX
AIB Foresight SME Impact Fund holds second closing
The fund received a cornerstone commitment from AIB in 2022
Lanza Capital closes second parking-focused fund on €550m
Anchor investors include Brookfield Asset Management and Partners Group
Trilantic Europe acquires solar mounts business
The company’s founder Mathias Muther will remain a significant shareholder
Investindustrial backs Italian engineering company
Fassi Group manufactures lifting equipment and was established in 1965
Keensight Capital-backed Sogelink bolts on Geopixel
The bolt-on will help to strengthen Sogelink’s European product offering
Eurazeo plugs additional investment into Electra
Eurazeo Infrastructure Fund has already completed six investments supporting the energy transition
General Atlantic bets on infra with Actis acquisition
The news comes hot on the heels of BlackRock’s acquisition of Global Infrastructure Partners
ScaleUp sells edtech business
The acquisition has been completed by a local family office in collaboration with the management team
Mutares sells Valti to management
The GP exited after only holding the firm since June 2022
Gimv invests in Castelein Sealants Group
The GP will focus on market expansion within the French markets
Axcel-backed XPartners completes three bolt-ons
The deal will strengthen XPartners’ commitment to sustainability
Fund in Focus: Foresight seeks SME opps for two new funds
The GP remains sector agnostic and has ticket sizes of up to £10m, partner Matt Smith tells Real Deals
Ara Partners closes third vintage on $2.8bn
The oversubscribed private equity fund closed on its hard-cap
Altor exits Eleda to Bain Capital
Eleda is a Swedish infrastructure projects and services firm
Industrials Report: Powering ahead
Mark Howden and Will Scales, investment directors at LDC, discuss how industrials businesses are taking advantage of opportunities for growth while navigating challenges, including supply chain risk and skills shortages
Industrials Report: A sector in a state of flux
The industrials sector faces a myriad of challenges from supply chain disruption to sustainability pressures. Taku Dzimwasha explores whether the sector remains attractive to PE investors
Gimv and Paragon exit Wemas in trade sale
The company has strengthened its position in traffic safety technology
Helix Kapital-backed L5 Navigation bolts on Rockma System
This is L5’s second bolt-on in as many months
Equistone-backed Andra Tech Group bolts on Lemmens Metaalbewerking
The deal will strengthen the firm’s position in DACH markets
Riverside-backed ToolWatch bolts on software firm
The investment will accelerate ToolWatch’s growth
CVC invests in Sogelink
Current shareholder Keensight is reinvesting alongside the GP
Juuri Partners backs Finland’s Kiho
The GP will support the firm to expand its digital solutions for fieldwork management offering
Ardian checks in with 15% stake in Heathrow Airport
The French sponsor previously invested in London’s Luton Airport
NVM exits Pareto for 4.2x return
Pictet has acquired a controlling interest in the portfolio company as part of the deal
One Equity Partners carves out metering solutions business
TechipFMS Measurement Solutions employs 450 people and has facilities in Germany and the US
Partners Group acquires infrastructure inspection firm
Rosen provides inspection and integrity management services for energy transmission pipelines
Melior Equity Partners invests in NRG Panel
The Irish company installs solar panels and heat pumps
Pioneer Point Partners acquires Esken Renewables
The biomass fuel supplier was purchased from LSE-listed Esken Limited
Perwyn partially exits Everflow investment
The stake sale follows the wider MBO of the portfolio company
Key Capital-backed TIS bolts on NSP
The deal was financed by a mix of equity and debt
Palladian consortium backs Intelli-Park MBO
The consortium will support the business to expand in the UK and Europe
Foresight backs AmWorld MBO with £5m
The deal sees the company’s founder transition out of the business and retire
SVP acquires APCOA Parking Holdings
The PE firm has acquired Centerbridge Partners’ majority stake and those of other minority stakeholders
I Squared acquires Arriva Group from Deutsche Bahn
The GP plans to support the firm’s growth, including the electrification of European vehicles
BaltCap holds first close of sophomore infra fund
BaltCap Infrastructure Fund II is targeting a total of €200m
Sponsor Capital invests in Suomen Kulutusosa
The GP will support the firm’s plans to expand its team
Renatus marks first deal from new €60m fund
The GP has acquired a majority stake in W.H. Scott Group
Fund in Focus: Appian closes Fund III at $2bn
Mining and metals industries are playing a critical role towards net-zero transition, Appian’s CEO Scherb tells Real Deals
Westbridge-backed APEM Group acquires Aspect Ecology
The add-on represents the sixth bolt-on since Westbidge’s initial investment two years ago
Mutares acquires building component manufacturer
This is the GP’s eighth acquisition including bolt-ons in 2023
Partners Group acquires renewable specialist Exus
The GP plans to invest $1bn in growth capital
Keensight-backed Sogelink adds-on Dutch software company
The acquisition of Regeldienst marks Sogelink’s second deal in the Dutch market since the GP’s initial investment
Helix Capital exits Heda to EMK Capital
The Swedish investment firm invested in the company in 2018
Activa Capital sells Explore Group stake to Intescia
The transaction comes four years after Activa Capital’s initial commitment in 2019
Portobello acquires 27% of German holding company
The business model of the inverted holding company is inspired by the concept of ‘compounders’
Eurazeo invests in infrastructure waste business 2BSI
The deal marks the sixth investment made by Eurazeo's Infrastructure team, as part of its ESG and sustainability goals
Deal in Focus: Evolver Equity exits Inprocon stake to VINCI Energies
The sell-side’s partner Peter Lindström tells Real Deals the firm is “satisfied” with the return on investment
Summit Partners invests in Certania
The growth investment is earmarked for the testing, inspection and certification company’s acquisitive growth strategy
Gimv and Tilleghem-backed Fronnt completes trio of bolt-ons
The portfolio company welcomes Electro Zwijsen, Induzz3 and Verwarming Erens to its network
Gimv sells Coolworld majority stake to Arcus Infrastructure Partners
The GP first invested in Coolworld in 2019 through its Sustainable Cities platform
HAL sells 60% of IQIP to AvH and MerweOord
HAL carved out IQIP from IHC in March, acquiring 100% of the shares in the company
SHS Capital acquires Essert
The deal marks the fourth from its €270m sixth fund
Cabot Square partially exits Premier Modular to MML
Cabot Square and MML Capital Partners will take an equal co-ownership stake in the company following the transaction
Tar Heel Capital scores sixfold return on Transsystem exit
THC invested in the portfolio company in 2014, acquiring nearly 80% of shares in the company
Bridgepoint exits one.network to Five Arrows-backed Causeway
Bridgepoint first backed the digital road management business in 2018 through its growth fund
Aksìa Group backs ICAM
The deal is the GP’s ninth investment from its Aksìa Capital V fund
BGF backs Nuada with £3.4m investment
The growth investment will support the construction of an energy-from-waste facility
Sullivan Street’s Octavius Infrastructure completes maiden bolt-on
Sullivan Street first acquired Octavius Infrastructure in a carve-out transaction from Geoffrey Osborne Group in September 2021
Agilitas exits wastewater management company in trade sale
After a five-year hold period, the company has been sold to Oldcastle Infrastructure
Rcapital acquires Temple Lifts from Hitachi
The deal marks the GP’s second carve-out of 2023
BaltCap-led consortium completes Xpediator take-private
The transaction is the first by a Baltic investor on the LSE
Susi Partners buys majority stake in Elaway
The deal is the ninth from its €300m Energy Transition Fund
Nordic Capital invests in Hjo Installation
The company will tap the GP’s networks and sector knowledge to expand
Deal in Focus: Cap10 completes £214m Sureserve take-private
The public-to-private transaction marks the first deal for the newly launched Cap10 Partners
Mutares buys Recover Nordic Oy from Recover Group
The deal is the GP’s fourth acquisition in 2023
Longship reaps 3.9x return after Garda Sikring exit
The transaction represents the fifth exit for Longship Fund I, a 2016 vintage that invested in eight companies
Innova Capital acquires 51% stake in EMI Group
The investment will fund further add-ons aimed at solidifying EMI’s position in existing markets and entering new countries.
Segulah’s Selatek bolts on Elias Syd
The add-on of Elias Syd further strengthens Selatek’s position in southeastern Sweden.
LDC-backed BCIS bolts on Griffiths & Hutchins Publications
LDC first backed BCIS in a carve-out transaction from the Royal Institution of Chartered Surveyors in June 2022.