ASSYSTEM GLOBAL PRODUCT SOLUTIONS acquired by ARDIAN

Element Materials Technology has completed the acquisition of Exova Group PLC, joining two of the world's leading testing companies to create a single global TIC powerhouse. The deal was won following a competitive process involving other major bidders, including PAI Partners and Jacobs Holding AG. The strategic rationale for the deal is to achieve massive global scale, combining technical expertise to become the leader in global aerospace, oil and gas, and fire safety testing. The combined group expects to generate annual revenues in excess of $700 million and employs over 6,200 people. To support the acquisition, Element successfully raised $1.4 billion in first and second lien term debt, which was 4x oversubscribed, demonstrating strong lender confidence in the combined group's cash-flow potential and market-leading position.

The management team of Acces Industrie completed an MBO valued at approx. US$115M (~EUR100M). Parquest Capital took the lead alongside Irdi Soridec and CM-CIC to acquire the majority stake held by Butler Capital Partners. Oaklins advised the management on the reinvestment and the refinancing of the company's senior debt, which included a US$73M bullet loan from Idinvest Partners and Artemid.

The acquisition of Hune by Loxam is a strategic move to consolidate the European equipment rental market and expand Loxam's presence in the Iberian region. The deal enables Loxam to strengthen its market position in Spain and Portugal, and to extend its geographical reach to new markets such as Saudi Arabia and Colombia. The acquisition is expected to generate significant synergies, both in terms of cost savings and revenue growth, as Loxam is able to leverage Hune's network of agencies and customer base to expand its own operations. The deal also provides Loxam with access to new markets and customers, and enables the company to offer a more comprehensive range of equipment and services to its customers. The strategic rationale behind the acquisition is to create a leading European equipment rental company, with a strong presence in key markets and a wide range of equipment and services to offer to customers. The acquisition is also expected to drive growth and expansion for Loxam, as the company is able to capitalize on new opportunities and markets. The deal is a key milestone in Loxam's strategy to become a leading global equipment rental company, and is expected to have a significant impact on the company's future growth and development.

Ardian entered into exclusive negotiations with IK Investment Partners to acquire a majority stake in Trigo Group. The transaction was structured as a partnership with the existing management team, which remained in place to drive the next phase of development. The deal aimed to support Trigo's international growth strategy and its consolidation of the global quality services market through strategic acquisitions across Europe, Asia, and the Americas. The investment provided the group with the long-term resources required to expand its service offering and strengthen its leadership in the aerospace and automotive verticals.

KKR has signed a definitive agreement to acquire LGC Group from the private equity firm Bridgepoint. This secondary LBO marks a transition for LGC following its ownership by Bridgepoint, which acquired the company in 2010. The strategic rationale for the acquisition is to leverage KKR’s global platform to accelerate LGC’s growth, particularly in North America and Asia. KKR intends to support the company’s ongoing focus on R&D and pursue an aggressive buy-and-build strategy to consolidate the fragmented life sciences tools and services market. The transaction is subject to customary antitrust approvals and is expected to close in the first quarter of 2016. Simpson Thacher acted as legal counsel to KKR for this acquisition.

Bridgepoint has acquired a majority stake in Element Materials Technology from 3i Group and its managed funds. This secondary LBO marks the end of a highly successful five-year partnership with 3i, during which Element nearly trebled its revenue and quadrupled its EBITDA through 10 strategic acquisitions. The strategic rationale for Bridgepoint is to utilize Element as a primary platform for further consolidation in the global materials testing market. Bridgepoint intends to support CEO Charles Noall and his team in accelerating their buy-and-build strategy over the next five years, expanding the group’s technical capabilities and geographic reach. The deal was finalized as Element reached a turnover of approximately $293 million, with 75% of its revenues generated in the US market, positioning it as the leading independent player in its specialized niches.

The deal involves the opening of EMAGINE's capital to MBO PARTENAIRES, allowing the company to take independence from its former parent group GFT. The transaction is led by EMAGINE's management team, led by Jean-François Bodin, who become majority shareholders. The deal provides EMAGINE with the financial resources and support to pursue its development objectives, including accelerating its growth and expanding its international presence through potential acquisitions. The partnership with MBO PARTENAIRES brings expertise and resources to support EMAGINE's strategic plans, including reinforcing its positioning as a specialist in niche markets and pursuing its international development.

The acquisition of Imtech España by Springwater Capital is a strategic move to create a national engineering services champion in Spain with a critical size to compete internationally. The transaction is subject to approval of the Spanish merger authorities. The acquisition fits well into Springwater's strategy to build a strong presence in the industrial services sector in Spain. Imtech España's operations and employees will be integrated into Springwater's existing portfolio of companies in the sector. The acquisition will provide Imtech España with the stability and resources needed to continue growing and creating value for its stakeholders. The deal structure is flexible and accommodating, addressing the needs of all stakeholders involved.

Socotec has finalized the 100% acquisition of ATS and its international subsidiaries in Italy and China from its founding directors. This transaction represents a strategic build-up for Socotec, which has been operating under a secondary LBO backed by Cobepa and Five Arrows Managers for approximately one year. The transaction is driven by the significant reinforcement of Socotec’s technical capabilities in the specialized Oil & Gas quality control market. Beyond enhancing technical synergy, the acquisition provides a critical geographic expansion, granting the group an immediate footprint in Italy and Asia through established subsidiaries in Milan and Shanghai. This allows the group to offer localized technical oversight in major international energy hubs. By integrating the target's specialized workforce and technical expertise, Socotec significantly scales its energy-related service offering, enabling it to better serve global industrial clients. This move aligns with the group’s broader consolidation strategy to lead the risk management and industrial inspection landscape by diversifying its sectoral reach and strengthening its international operational network.

Cobepa and Five Arrows Managers have successfully completed a secondary LBO to acquire the majority stake in Socotec from Qualium Investissement. This transaction represents a strategic transition for the organization, marked by the early exit of the previous shareholder through a private, bilateral negotiation. The management team remains significantly involved, ensuring continuity in leadership and operational strategy during this new phase of development. This deal capitalizes on the continued internationalization and market consolidation of the Testing, Inspection, and Certification (TIC) landscape. Over the previous four years, the entity significantly broadened its international scope and technical depth, notably entering the oil and gas exploration and production markets through targeted acquisitions. The new partnership with a long-term investment holding provides the group with the strategic stability and dedicated financial resources required to accelerate its buy-and-build program. Specifically, the group aims to capitalize on its position as a market leader to further professionalize its service delivery and expand its reach across high-growth geographies and technical adjacencies, supporting global trends in infrastructure safety and energy transition.