Bridgepoint takes majority stake in BATISANTÉ

Bridgepoint agreed on 3 November 2026 to acquire a majority interest in Batisanté from IK Partners, which exited in full from its ninth fund, at an enterprise value of €500M–1.5bn representing an EV/EBITDA multiple of 10x–18x on 2026 figures. Hayfin provided a unitranche facility, having co-financed the previous buyout alongside Barings. Chief executive Nicolas Milesi reinvested with around fifty managers, together holding between 10 and 15% of the capital. Completion was expected by the end of the year. Headquartered in Paris, Batisanté carries out the inspections and maintenance that French regulation imposes on buildings: verifying fire extinguishers, emergency lighting and smoke extraction, conducting asbestos, lead and energy performance surveys, treating pests in common areas, and repairing electrical and plumbing faults. It serves 20,000 customers, covers more than 200,000 buildings and performs approximately 500,000 interventions annually through over 1,000 technicians among 2,000 employees. Revenue was expected to reach €210m for 2026, with fire protection, hygiene and inspection accounting for 90% of activity and minor repairs the remainder. The work is required rather than chosen, since a managing agent who fails to have the extinguishers checked or the asbestos survey conducted exposes itself to liability, and the resulting contracts renew annually irrespective of the property cycle. Operating across four disciplines allows the company to sell several services to the same agent, which competitors specialising in one cannot match. Revenue had more than doubled from 100 million euros in 2022, through fourteen acquisitions extending the group across France and into Benelux alongside organic growth of 7%, while IK Partners also funded a programme of systems replacement and strengthened the commercial organisation. This was the company’s fourth leveraged transaction, after Qualium in 2004, 21 Invest in 2006, LGT following a lender-led restructuring in 2011 and IK Partners in 2022. Bridgepoint had bid in that earlier process and approached management directly, which produced a sale conducted outside a competitive auction. Evercore, Jefferies and D&A Corporate Finance advised Bridgepoint, with Latham & Watkins as legal counsel, Alvarez & Marsal on financial and Indefi on commercial due diligence, while Rothschild & Co advised IK Partners, with Willkie Farr & Gallagher as counsel, Eight Advisory on financial and Arsène on tax matters, and Claris, Callisto and A7TAX advised the management team.

The acquisition of BATISANTÉ is part of the growth strategy of Bridgepoint, which already has several external growth operations under its belt, notably Lansweeper in 2026.