BETEM GROUP acquired by PARQUEST CAPITAL

Vulcain Engineering Group has acquired a majority stake in Incico. The current CEO and key management have reinvested to retain a minority stake and will continue to lead the company. Historical shareholder Giovanni Monini sold his stake but remains as VP of Business Development. Ten other managers also entered the capital structure. This acquisition serves as Vulcain's strategic entry point into the Italian market, with plans to double Incico's Italian revenue to EUR50m within three years.

DXP Enterprises, Inc. has completed the acquisition of Pump Solutions, Inc., a specialized entity focused on marketing pumps, control systems, and associated maintenance services, primarily catering to the water and wastewater treatment sector. This equity-financed transaction provides DXP with a strategic presence in Texas, enabling the company to enhance its capacity to meet client needs in the water and wastewater domain through an expanded range of services and products. The deal also allows DXP to consolidate its distribution network and strengthen ties with local clients by offering a broader array of technical solutions and repair services

SYSTRA has announced the 100% acquisition of the Australian engineering firm BG&E. This strategic transaction significantly strengthens SYSTRA’s presence in Australia and New Zealand, where the combined entity will now employ over 1,000 staff. The rationale for the deal is twofold: first, to capture growth in one of the world's most active infrastructure markets; second, to create a new global business unit dedicated to "Complex Buildings". By integrating BG&E’s 800 employees and its international offices in Singapore, the UAE, and the UK, SYSTRA is scaling its multidisciplinary engineering services

Bufab AB has entered into a definitive agreement to acquire approximately 99% of Novia Group from the German investment company Family Trust. To ensure long-term performance alignment, the deal includes a performance-based earn-out of up to €10 million, payable between 2026 and 2028. Following the closing, Managing Director Markus Bauer will retain a 1% minority stake and continue to lead the company as a separate business unit within Bufab’s "Europe West" region. The strategic rationale for this platform acquisition is to add specialized global sourcing and "cost-down" engineering capabilities to Bufab’s portfolio

H.I.G. Capital has completed the acquisition of a 73.78% majority stake in ALA from AIP Italia (the vehicle of founders Fulvio Scannapieco and Vittorio Genna). In a secondary transaction finalized in June 2025, H.I.G. also secured an additional 4.54% stake from Smart Capital and Smart ALA, bringing its total control close to 80% prior to the mandatory tender offer. The strategic rationale is to delist the company from the Borsa Italiana (Euronext Growth Milan) to facilitate an ambitious international development plan

SYSTRA has announced the 100% acquisition of Ardanuy Ingeniería to strengthen its technical capabilities and market presence in Spain, Portugal, and Latin America. This operation follows SYSTRA's successful 2023 integration of Subterra and marks a major step in building a comprehensive engineering hub for the Iberian and Hispanic markets. The strategic rationale for the deal is to create technical synergies in railway systems and infrastructure, while securing a workforce of 350 highly skilled professionals

Loxam acquired Toscana Noleggi to strengthen its position in Central Italy. This acquisition integrates a high-quality fleet and an experienced team into Loxam's existing Italian network. It allows Loxam to provide better coverage in the Tuscany region, complementing its historical presence in the North of the country (following the acquisition of Nove in 2017).

Marking a significant milestone in its global expansion journey, AGQ Labs has entered into a definitive agreement for Fremman Capital to acquire the stake previously held by Portobello Capital. This secondary buyout facilitates the successful exit of Portobello’s Structured Partnerships Fund while ensuring a continued partnership with the company’s founders, Estanislao Martinez and Coral Zamora. The strategic shift follows a period of rapid consolidation during which the group successfully integrated eight bolt-on acquisitions and doubled its laboratory network

Transcat has successfully finalized the acquisition of 100% of the share capital of the target, marking the largest transaction in the group’s history. This strategic move establishes the organization as the dominant service provider in the high-density industrial corridor of New England. The strategic rationale for the move centers on the acquirer’s objective to integrate high-end electrical measurement capabilities and specialized technical talent into its existing calibration portfolio. By incorporating this regional market leader, the organization reinforces its technical operational depth in the highly regulated Aerospace, Defense, and Life Science industries

Acuren has finalized the acquisition of NV5 Global, creating a market leader in the engineering and technical consulting space by combining Acuren’s strength in inspection with NV5’s expertise in technical consulting. The deal was structured as a mix of cash and stock, with NV5 shareholders receiving 23 dollars per share, consisting of 10 dollars in cash and 13 dollars in Acuren common stock. Following the transaction, Acuren shareholders own approximately 60% of the combined group, while NV5 shareholders hold 40%