EQT Infrastructure in exclusivity to buy Trescal

The PE arm of the Canadian public pensions fund will retain a 25% stake in the French calibration laboratories provider as part of the deal, according to a press release.

EQT Infrastructure and Partners Group were the final two suitors for the business, which was expected to be valued at around EUR 1.4bn, as reported by Mergermarket. Other bidders involved in the auction included Bridgepoint, which dropped as a contender earlier in the race, according to the report.

A spokesperson for OMERS Private Equity told Unquote the firm got a "market leading return" on the transaction, in a reflection of the quality of the business and its growth potential.

The firm acquired Trescal in 2017 for a EUR 670m consideration. Since then, Trescal embarked on an M&A spree, making 47 bolt-on acquisitions in Europe, North and South America, and Asia-Pacific, the spokesperson said. Earlier this year, Trescal Chairman Guillaume Caroit told Mergermarket that the company aims to make 15 to 20 small bolt-ons each year by 2029.

EQT Infrastructure is investing via Fund V, which is expected to be 80%-85% invested following this deal, the statement said.

The sponsor will support growth opportunities in current and new markets, drawing on EQT's global footprint and industrial experience in the company's key end-markets such as transport, telecom and healthcare, according to the statement.

The acquisition is EQT Infrastructure's third investment in France, following the acquisition of European operator of nursing home facilities Colisee and of water services management company SAUR.

Company
Trescal provides essential and regulated calibration services via a network of more than 380 laboratories, for testing and measurement equipment in transport, healthcare, telecom, and other sectors.

Advisors
Vendor and management – DC Advisory

People
EQT – Christoph Balzer (partner within infrastructure advisory team), Thomas Rajzbaum, (managing director and head of European private equity).
Trescal – Guillaume Caroit (CEO).
OMERS Private Equity – Jonathan Mussellwhite (senior managing director and head of European private equity).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• France
• Support services
• Industrials
• OMERS
• EQT
• France