05/05/2021 – Investments / Kartesia / Babcock Wanson / Industrial Boilers / Europe
Kartesia acquires FCDE’s stake in industrial boiler supplier Babcock Wanson
Pan-European, independent and private financing specialist Kartesia has announced its acquisition of 100 per cent of the share capital in leading European industrials business Babcock Wanson, investing alongside the management team.
Less than 5 years after leading the Babcock Wanson carve-out from the group CNIM, FCDE (Fonds de Consolidation et de Développement des Entreprises) will sell its stake to Kartesia (currently a minority shareholder of the Group) alongside the key managers of the Group, led by Babcock Wanson’s CEO, Cyril Fournier-Montgieux.
Kartesia’s and the Management’s ambition is to start a new era of growth for Babcock Wanson – a major international supplier of products and services for industrial boilers – with a particular focus on accelerating the Buy and Build strategy initiated under FCDE’s shareholding, combined with the extension of the products related services offered in Europe.
Kartesia said it would support Babcock Wanson in its external growth strategy, capitalising on the significant pipeline of targets identified under FCDE’s shareholding, coupled with Kartesia’s own knowledge of the European market, supported by its numerous European offices.
“An important step” in the Group’s growth
“We are thrilled to increase our level of commitment to Babcock Wanson and its Management Team, following four years of partnership during which we have been able to fully appreciate the Group’s and Management’s expertise and operational excellence,” remarked Damien Scaillierez, Managing Partner at Kartesia. “We are confident in our capacity to continue the company’s growth started by FCDE, on the current perimeter of operations, but crucially through our localised knowledge of the European market to provide attractive acquisitions.”
Cyril Fournier-Montgieux, Babcock Wanson’s CEO, added that the transaction represented “an important step” for the development of the Group, and that he was excited to pursue the Group’s growth project with the support of Kartesia. “Since 2016, FCDE has accompanied Babcock Wanson in its carve out from the Groupe CNIM and in its transformation project, providing the needs to match up the Group’s desired expansion,” he said. “The strengthening of Kartesia’s stake in our Group will bring additional means to accelerate our development pace both organically and through external growth transactions.”
With a century’s experience in supplying products and services for industrial boilers, Babcock Wanson offers tailored solutions designed to limit energetic consumption and the environmental footprint of its customers worldwide.