EQT, through its Active Core Infrastructure fund, has entered into exclusive negotiations to acquire Ocea Group from ICG Infrastructure Equity I. Based in France, Ocea is a leading provider of smart water and heat submetering infrastructure, operating more than four million devices. The company serves over 7,000 public and private clients through long-term, inflation-linked contracts typically exceeding 10 years.

OCEA GROUP, which reported an EBITDA margin of LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN premium to the 11.3x average currently observed in the Business Services sector.

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