CapVest Partners has completed its acquisition of a majority stake in TSG Solutions following the receipt of all required approvals. Financial terms of the transaction were not disclosed.
Members of TSG’s management team and existing investor HLD reinvested alongside CapVest. Both groups will retain significant minority stakes in the European energy infrastructure services provider.
Headquartered in Paris, TSG operates across 30 countries with more than 7,000 employees and annual revenue exceeding €1.4 billion. The company designs, builds, installs and maintains critical energy infrastructure across Europe and Africa.
TSG’s services cover electrical power infrastructure, electric vehicle charging, solar energy, battery energy storage, biofuels, natural gas, biogas and hydrogen. It also provides fuel retail equipment, payment systems and maintenance services.
The company works across the full lifecycle of infrastructure projects, including design, engineering, installation, commissioning and around-the-clock maintenance. Its customers include utilities, data center operators, fleet owners, service station networks, industrial businesses and public authorities.
CapVest plans to support TSG’s organic growth while accelerating its acquisition strategy. The company has completed nearly 50 acquisitions across 20 countries in less than four years.
Recent acquisitions include Powertek Utilities in the United Kingdom, TEPU Holding in Switzerland and Processkontroll Green Technology in the Nordic region. These transactions expanded TSG’s capabilities in grid connections, data center electrical infrastructure and compressed and liquefied gas systems.
TSG is evaluating additional acquisition opportunities across Europe that could expand its technical capabilities, energy offerings and geographic reach. The company expects its acquisition program to accelerate under CapVest’s ownership.
Demand for TSG’s services is being supported by increased investment in electrification and Europe’s critical energy infrastructure. The expansion of electric transportation, renewable energy, battery storage and data centers is increasing the need for specialized design, installation and maintenance services.
CapVest invests in companies providing essential goods and services and typically supports growth through operational investments and acquisitions. Its core sectors include essential services, healthcare and consumer staples.
HLD first invested in TSG in 2020 and helped the company expand across electric mobility, solar energy, gas and battery storage. The European investment group manages more than €4 billion and supports 22 portfolio companies.
KEY QUOTES:
“We are delighted to complete this investment and begin our partnership with Jean-Marc Bianchi and his outstanding team. TSG occupies an important position in Europe’s energy infrastructure, serving customers across both traditional fuel and new energies, and we see a significant opportunity to accelerate its growth organically and through complementary acquisitions.”
“We look forward to supporting the team as they build on their exceptional track record.”
Fred Raikes, Partner at CapVest
“The completion of this transaction marks the beginning of an exciting new chapter for TSG. CapVest’s philosophy of significant investment in people, innovation and capabilities, and its focus on both organic and acquisition-led growth, strongly reflects our own principles and ambitions.”
“I would like to thank all of our employees, whose skill and commitment are the foundation of everything we have achieved, and HLD for their support throughout the first phase of our growth and transformation journey. We now look forward to pursuing the next chapter of that journey with CapVest’s full backing.”
Jean-Marc Bianchi, Chairman and CEO of TSG
“TSG has experienced an incredible acceleration over the past five years under our ownership alongside management, expanding rapidly across electric mobility, gas, solar and energy storage.”
“The growth potential ahead is still significant and the company is now firmly established and ready to scale further. We are delighted to expand this journey alongside the management and CapVest.”
Cédric Chateau, Partner and Chairman of the Investment Committee at HLD
