Ardian-backed Trescal makes two acquisitions

Since Ardian's buyout last year, the group has undertaken an acquisitive growth strategy in order to expand its global reach.

Under the GP's stewardship, the company has now completed nine bolt-ons. Most recently, Trescal acquired 70% of Spain-based Tecnalia Corporation in August 2014.

Trescal stated it was planning on making two further acquisitions before the end of the year.

Previous funding
Ardian acquired Trescal in June 2013, in a deal valued at around €250m. Since then the GP has provided the company with acquisition finance for the bolt-ons of Silicon-Valley-based SE Laboratories in October 2013, two US-based firms in April 2014; and the bolt-ons of US-based Master Metrology and the Italian metrology assets of Gefran in July 2014.

Trescal has a long history of private equity ownership. Astorg backed the management buyout of Trescal from its parent company Air Liquide in 2007, with the group performing eight bolt-ons under its new owner.

3i and TCR Capital then acquired the company in 2010 in a deal valuing the company at €110m, following which Trescal completed another four bolt-on acquisitions.

Company
Headquartered in Madrid, calibration services provider GES was founded in 1982. It has a headcount of 21 and serves clients including Repsol, Cepsa, BP and Galp. GES has a turnover of around €1.5m.

Headquartered in Cornelius, North Carolina, and founded in 2000, Calibration Solutions is a provider of calibration services to the aviation, energy, biomedical and construction sectors. The company has a headcount of 11 and a turnover of around $1.7m.

People
Thibault Basquin is managing director in the mid-cap buyout team at Ardian. Yann Bak, Arnaud Tardan and Edouard Level also worked on the deal for the GP. Guillaume Caroit is general secretary of Trescal.

Advisers
Equity – Alvarez & Marsal, Jamie Bowden (Tax); Hooper Hathaway, James Beuche, William Beuche (Legal); PwC, Robert Long, Christopher Engstrom, Juncal Vadillo Crespo, Katia Dubor (Financial due diligence); Mariscal & Asociados, Alberto Alvarez (Tax).

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• Topics
• France
• Support services
• Expansion
• France
• Ardian (formerly Axa PE)