NOVIA GROUP acquired by BUFAB

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.

Parquest has acquired a minority stake in Betem Groupe to support its next phase of expansion. The group's management team, led by Chairman & CEO Philippe Mercier, remains the majority shareholder, ensuring operational continuity and strategic independence. This transaction was structured to provide the group with a strong financial partner to fuel an ambitious growth trajectory, combining organic development in core engineering businesses with the selective acquisition of specialized firms to broaden technical capabilities

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 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

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

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

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%

SGS has successfully completed the acquisition of Applied Technical Services, marking a significant milestone in its expansion strategy within the North American market. This transaction follows the clearance of all necessary regulatory approvals and unites two leading forces in the testing and inspection sector. The integration of the target adds over two thousand specialized employees to the acquirer,s family and fulfills a major portion of the group,s growth objectives for the region. Strategically, the combination allows for the generation of sustainable growth and enhanced value for clients through a highly complementary service portfolio