CAILLAU acquired by MONTYON CAPITAL

The transaction involves the 100% acquisition of Feu Vert, through its holding company Financière Ramsès, by the listed family holding Bassac from the private equity firm Alpha Private Equity. This deal marks the exit of Alpha Private Equity after a ten-year holding period, during which the investor streamlined the company's perimeter by divesting non-core assets such as Mondial Pare-Brise and Impex. For Bassac, this acquisition represents a significant strategic pivot toward diversification outside of its core real estate development business. The rationale behind the deal lies in acquiring a mature, cash-generative asset with a strong market position (the second-largest maintenance network in France) to balance the cyclical nature of the property market. The transaction was conducted through a restricted process led by Alantra, targeting family offices and industrial players following a previously unsuccessful sale attempt in 2022. The deal was finalized in early 2026 after receiving the necessary regulatory clearances and following a significant debt refinancing of the company in 2024 to strengthen its financial structure.

Arkea Capital, the Credit Agricole Group, and Epopee Gestion acquired a combined majority stake (over 50%) in The Reefer Group from Amundi PEF. A pool of eleven other minority financial investors retains approximately 30% of the capital. The transaction also includes a significant reinvestment by the management team which now includes 63 managers holding around 19% of the shares. The deal was supported by a senior debt package with a leverage between 3.0x and 3.5x EBITDA. The strategic rationale is to double the group's size within the next five years, primarily through an aggressive international external growth strategy, building on the recent acquisition of Paneltex and the group's leadership in the customized refrigerated transport market.

Global Technologies has officially completed the 100% acquisition of Novares from its previous shareholders, including Equistone Partners Europe (76.84%) and Bpifrance (14.36%). The transaction, approved by the European Commission in March 2025, marks the transition of the French group into the fold of the American First Brands group. This acquisition follows a decade of ownership by Equistone, during which Novares underwent a transformation into a global leader with over €1 billion in revenue. The strategic rationale for First Brands involves integrating Novares' specialized plastic manufacturing capabilities into its broad portfolio of automotive components. The deal strengthens First Brands' presence in the global OEM market while providing Novares with the industrial backing of a major global spare parts manufacturer. The operation was finalized under the new leadership of CEO François Sordet, ensuring management continuity as the group enters this new phase of international ownership.

JOST Werke SE has signed a definitive sale and purchase agreement to acquire 100% of the share capital of Hyva from Unitas Capital Pte. Ltd. and NWS Holdings Limited. This transformative acquisition aligns with JOST's strategy to become the premier supplier for both on-highway and off-highway commercial vehicles worldwide. By integrating Hyva, JOST significantly expands its product portfolio with smart hydraulic solutions and strengthens its foothold in high-growth infrastructure markets such as India, Asia, and Brazil. The combination creates a robust group with pro-forma sales of around EUR1.8 billion. The transaction is financed through a mix of cash and debt and is expected to generate substantial cost and revenue synergies, particularly through cross-selling opportunities across their complementary customer bases.

Global Auto Holdings Limited has completed the acquisition of K.W. Bruun’s import and digital businesses, specifically encompassing K.W. Bruun Import A/S and K.W. Bruun NxT A/S. The transaction, which includes the acquisition financing architecture, transfers a platform from the Danish automotive group into the buyer's global network. This acquisition expands the purchasing group's international portfolio, which operates 164 franchise dealerships across the United States, Canada, the United Kingdom, and Ireland, representing more than 40 car brands. The transaction marks the buyer's entry into the European automotive import segment and enhances its technological capabilities. K.W. Bruun operates as a large-scale Nordic car importer and distributor, managing logistics and spare parts for international brands including Peugeot, Citroën, DS, Opel, Mitsubishi, Fiat, Alfa Romeo, Jeep, Hongqi, and Voyah across Denmark and Sweden. The post-closing corporate strategy focuses on leveraging the acquired digital business concepts to drive mobility and communication innovations, establishing a dual position in both automotive retail and digitalized importing services throughout Europe.

UI Investissement and Rhone-Alpes PME (Siparex/Caisse d'Epargne) took a majority stake (50-60%) in Antares Diffusion. The deal organizes the transition of the CEO who moves to a Chairman role, while key managers enter the capital. The strategy focuses on buy-and-build acquisitions in the energy and audiovisual niche for leisure vehicles.

The management team of Texelis organized a new MBO to reinforce their majority stake and bring in new long-term partners. This transaction replaces the previous structure set up in 2018. A consortium of six investors backed the deal: Ouest Croissance and Bpifrance's Definvest entered as new leads, while historical partners Siparex and Carvest reinvested. The goal is to support the company's growth plan to reach EUR200 million in revenue by 2028, driven by major defense contracts (Scorpion program) and innovation in electric mobility for transport. The deal is financed by a senior debt package arranged by BNP Paribas and Arkea, representing a leverage of approximately 3x EBITDA.

Patrick Industries signed a definitive agreement to acquire Sportech, LLC from Monomoy Capital Partners. This acquisition is immediately accretive to Patrick's margins and earnings per share. It represents a strategic "Secondary Buyout" where an industrial player takes over from a private equity firm to support the next phase of growth. Patrick aims to leverage its existing relationships with Powersports OEMs to cross-sell Sportech's premium cabin solutions and realize cost synergies.

Global Auto Holdings Ltd. (GAHL), an affiliate sharing ownership with Toronto-based Alpha Auto Group (AAG), has completed the acquisition of Lookers PLC through a court-sanctioned scheme of arrangement. Following initial shareholder resistance over the summer, GAHL raised its cash offer per share to secure investor approval. The transaction takes the target private and marks its delisting from the London Stock Exchange. The operational perimeter encompasses a workforce of approximately 6,500 employees and an infrastructure network of 147 franchise dealerships across the United Kingdom and Ireland. The transaction marks AAG’s entry into the European automotive retail market. Prior to the acquisition, AAG's geographic footprint was limited to 15 large-scale vehicle dealerships across Canada and the United States. By acquiring Lookers, the group absorbs an established, century-old distributor of new and used vehicles, light vans, and aftermarket services. The post-closing industrial thesis focuses on geographic diversification and expanding global market share, positioning the combined entity to leverage Lookers' existing platform amidst broader consolidation within the British automotive retail sector.

AUO Corporation has finalized the 100% equity acquisition of BHTC. This strategic transaction marks a milestone in AUO's evolution into a Tier 1 automotive supplier, effectively merging its leadership in display technology with BHTC's expertise in climate control and HMI systems. The operation was cleared by all relevant national authorities following a definitive agreement reached in late 2023. The rationale for the acquisition is focused on three strategic pillars: product diversification, customer-centric resilience, and global operation deployment. By integrating BHTC's climate control expertise with AUO's advanced Micro LED and cockpit display solutions, the combined entity aims to offer a holistic "smart cockpit" portfolio to international automakers. This vertical integration allows AUO to bypass traditional supply chain layers and interact directly with global OEMs, gaining early market insights and enhancing its competitive positioning. Furthermore, BHTC's established manufacturing and R&D footprint in Europe and India complements AUO's strong Asian and North American presence, creating a balanced geographical portfolio and a more resilient localized supply chain. This merger is expected to significantly increase AUO's automotive revenue share while accelerating its mission to become a dominant solutions provider in the global smart mobility services market.