PROXISERVE acquired by VAUBAN INFRASTRUCTURE PARTNERS

Vauban Infrastructure Partners has acquired the remaining 38.7 % stake in Proxiserve, bringing its ownership to 99.7 % and making it the sole reference shareholder. The transaction follows a 2019 co‑control arrangement in which Vauban and Asterion Industrial Partners jointly purchased Proxiserve. Since that initial investment, Proxiserve expanded its smart‑meter inventory and launched electric‑vehicle charging solutions, while maintaining steady growth through the pandemic period. Asterion’s Fund I exit marks the first full divestment from that vehicle. The acquisition aligns with Vauban’s objective to deepen exposure to energy‑service infrastructure that benefits from long‑term regulatory support and recurring revenue streams. By consolidating ownership, Vauban can implement its ESG‑focused asset management framework across the full meter‑reading and EV‑charging portfolio. The deal also enables the fund to leverage its expertise in scaling brownfield assets, targeting cost efficiencies and technology upgrades within Proxiserve’s nationwide network. Post‑transaction, Proxiserve is expected to accelerate deployment of heat‑meter and heat‑pump services, augment its data‑analytics capabilities and broaden the EV‑charging footprint in line with national decarbonisation targets. Vauban plans to coordinate capital allocation with the company’s management to optimise contract renewals, expand service contracts to new residential blocks and integrate advanced IoT solutions. The combined entity should enhance cash‑flow stability, improve margin profiles and reinforce market positioning within the French energy‑services sector.

In the past, the company had already been the subject of several LBOs, notably led by Latour Capital in 2011 and Vauban Infrastructure Partners / Asterion in 2019. This succession of buyouts highlights the strong attractiveness of the company's business model.