Scotto Partners is working alongside Babcock Wanson's management team in connection with Kartesia's acquisition of a majority stake

Following an initial LBO launched in 2016, Babcock Wanson, the specialist in industrial boiler room solutions, is set to change its majority shareholder. Kartesia, which until now held a minority stake, has entered into exclusive negotiations with the Fonds de consolidation et de développement des entreprises (FCDE) to take control of the group. The transaction also includes a significant reinvestment by top management in the new project led by Kartesia.

Babcock Wanson is a leading global supplier of equipment for industrial boiler rooms. With over 100 years of experience, the Group provides customized solutions designed to minimize energy consumption and reduce its customers’ environmental footprint.

With subsidiaries in eight countries across Europe and beyond, two manufacturing facilities, and a global network of commercial and technical partners, Babcock Wanson aims to drive the group’s strong growth through organic and external expansion, particularly in its services business. The group’s business thus remains dynamic, supported by a broad portfolio of clients primarily in the food and pharmaceutical industries.

Cyril Fournier-Montgieux, CEO of Babcock Wanson: “This transaction is an important step in our Group’s development, and we are delighted to continue our company’s growth strategy with Kartesia’s support. Since 2016, the FCDE has supported Babcock Wanson through its separation from the CNIM Group and its transformation initiative, meeting the Group’s expansion needs. The increase in Kartesia’s stake in our Group will provide additional resources to accelerate our growth, both organically and through external growth opportunities.”

Completion of the transaction is subject to standard terms and conditions.

As part of this secondary LBO, Babcock Wanson’s management was advised by Scotto Partners, with a team led by Isabelle Cheradame (partner), assisted by Anaïs Pinton and Jules Gaillard on corporate matters, Jerôme Commercon ( partner), supported by Martine Le Roux and Loïc Pipaud on tax matters, as well as Bertrand Thibaut (counsel) and Alban Tourneux on employment law.

On the financial side, they were advised by Coruscans, whose team consisted of Frédéric Balochard, Benjamin Lobel, and Florian Pascaud.

Kartesia was advised by De Pardieu Brocas Maffei, with Magali Masson and Joanna Gumpelson, partners, and Anne Febvre, Fabian Guéroult, and Sarah Dirani, associates, on corporate matters, Priscilla van den Perre, partner; Arthur Leclerc, counsel; and Gauthier Pinabiaux, associate, for tax law matters; Laëtitia Gavoty Tolot, counsel; Anthony Gioe’ de Stefano, associate; and Hugo Mougel for competition law matters; Sébastien Boullier de Branche, partner, and Julien Willemot, associate, for financing matters; Arnaud Pince, counsel, and Côme Chaine, associate, for regulatory matters; and Philippe Rozec, partner, Louise Thiébaut, counsel, and Perrine Piat, associate, for employment law matters.

The sellers were advised by Ayache, along with Sandrine Benaroya and Louise Abbou on corporate matters and Frédéric Fuchs on competition law matters, as well as by Gramond & Associés, with Xavier Gramond, Corinne Cousseau, and Mélanie Labossais Gramond.