Ardian-backed CLS acquires Woods Hole Group

The transaction marks the fourth bolt-on completed by CLS with Ardian's support. Previous acquisitions included Horizon Marine, a Massachusetts-based provider of offshore oil operators in the region. Completed in April 2015, the bolt-on marked CLS's entry into the US market.

In November the same year, CLS also acquired Milan-based TRE, which specialises in the measuring of ground movement through satellite radar sensors. CLS will continue to seek new acquisitions to pursue its expansion strategy and international rollout, the GP said.

The add-on of Woods Hole is intended to allow CLS to enhance its expertise in observing the impact of global warming on coastal areas, the assessment of ecological risks and the impact of new infrastructure on the environment, the GP stated. Woods Hole recorded a turnover of $10m in 2016 and is targeting $130m in revenues for 2017, a company statement said.

Upon Ardian's buyout of CLS in 2013, the group expected a €90m turnover for the year 2013 and aimed to reach €160m with a 700-strong headcount by 2018.

Previous funding
In 2013, Ardian invested €30m in CLS Group, becoming the second largest shareholder in the company behind Centre National d’Etudes Spatiales (CNES), the French government's space agency. Existing backer Institut Français de Recherche pour l’Exploitation de la Mer (Ifremer), the French research institute for exploitation of the sea, retained its stake in the group. Ardian aimed to strengthen the group's resources and drive its national and international expansion with an acquisitive growth strategy.

Company
Founded in 1998 and based in Massachusetts, Woods Hole specialises in environmental, scientific and engineering consultancy. Focused on environmental monitoring, the company provides its clients with equipment, data analyses, models, services and environmental impact assessments. The group recorded revenues of $10m in 2016 and employs 45 people.

Founded in 1986 and based in Ramonville Saint-Agne, south-west France, CLS is a subsidiary of CNES and Ifremer. It operates across six sectors: sustainable fishing management, environmental monitoring, maritime safety, fleet management, energy and mines, and ground segments. Clients include government bodies, industrials and members of the scientific community.

People
Ardian – Baudouin d’Hérouville (managing director); Caroline Pihan (director); Arthur de Salins (investment manager).
CLS Group – Christophe Vassal (managing director).

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