GRUPO TERRATEST acquired by NAZCA CAPITAL

Hivest Capital Partners has acquired a majority stake in Face Group in a primary LBO transaction, marking the start of the company's transmission from its founders. The deal followed a competitive process involving both financial and industrial bidders. The Torres family, who founded and led the company since 1979, has decided to reinvest alongside the private equity firm, as have several subsidiary managers who were already shareholders. The transaction is supported by bank financing provided by Bred and Société Générale, which includes a dedicated CAPEX line to fund future external growth opportunities

Groupe SYLPA has successfully completed a new LBO through a sponsorless transaction. This deal enables founding president Pascal Fournet-Fayard, CEO Olivier Godefroy, and a management team of six executives to significantly increase their equity stake in the business. The transaction facilitates the exit of Apax Partners Development (formerly EPF IV), which had backed the company since its 2015 MBO. The management team is supported by Andera Partners, which provided financing through its mezzanine fund, ActoMezz

Goldbeck has successfully finalized the acquisition of 100% of the share capital of GSE, marking a significant milestone in the creation of a premier European leader in turnkey commercial construction. This strategic transaction involves the full exit of the previous private equity sponsor, TowerBrook Capital Partners, which facilitated the organization's rapid international expansion over the past decade. The strategic rationale for the move centers on the high degree of geographic and technical complementarity between the two organizations

AF Gruppen has successfully finalized the acquisition of a 70% majority stake in HMB Holding AB, integrating the entity into its Swedish subsidiary, AF Gruppen Sverige AB. This strategic transaction represents a significant milestone in the group’s "Strategy 2020," aimed at aggressively expanding its industrial footprint in the Swedish market. A key feature of the deal is the retention of a 30% equity stake by the target’s employees, ensuring continued alignment of interests and management continuity

Stella Group acquired 100% of FLIP from its CEO and the investment firm Siparex. This acquisition was purely geographical, allowing StellaGroup to fill a gap in its national coverage by establishing a strong industrial base in Northern France. The deal brought the group's total headcount to 850 employees and pushed its pro-forma 2018 revenue above the EUR230M threshold.

PAI Partners acquired a majority stake in Stella Group, facilitating the exit of ICG, which had backed the company since 2015. The management team reinvested significantly alongside PAI. The strategic rationale for this new investment cycle is to accelerate the Group's internationalization through a targeted 'buy-and-build' strategy, focusing on market consolidation in Germany, Southern Europe, and the Benelux region.

Colas Ltd has successfully finalized the acquisition of 100% of the shares of the target entity, marking a strategic expansion of its specialized service offerings within the United Kingdom. This transaction is designed to establish a dominant position in the airport maintenance and defense infrastructure segments, leveraging the target's established reputation for technical excellence at major aviation hubs and military installations. The strategic rationale centers on the high degree of technical complementarity between the target’s specialized restoration solutions and the group’s existing large-scale infrastructure capabilities

ICG has acquirer a majority stake in Groupe Stella from Equistone Partners Europe, which had been the lead investor since 2010. This quaternary LBO aimed to support the management team in professionalizing the group and initiating its first steps toward international expansion.

Ferrovial acquired 100% of Enterprise Plc from 3i Group. This acquisition allows Ferrovial to integrate Enterprise into Amey, creating a combined entity with a turnover of �2.3 billion and 21,000 employees. The integration targets �40 million in cost and revenue synergies.

Brookfield Asset Management Inc. has offered to buy Multiplex Group in an all-cash deal, marking the company's first foray into the Australian market and part of its global expansion plan. The proposed deal expands Brookfield's asset base through the acquisition of additional assets and is a strategic fit for the company. The offer has a total enterprise value and is subject to certain conditions, including a minimum acceptance condition of 50.1 percent of Multiplex Group securities. The acquisition is expected to bring complementary assets to Brookfield, outside of the countries it currently operates in, and it appears that Brookfield wants the management team to stay on