Sale of GSRI to Pragma Capital

Business Services
Deal type
Buyout / MBO / Sell your business
February 2018
Countries involved


GSRI is a leading independent French player of infrastructure inspection services


Capitalmind advised Bpifrance and the management in the sale of GSRI to Pragma Capital


Lead team

  • Michel Degryck

    Michel Degryck

    Managing Partner France

What we did

Capitalmind actively supported GSRI’s shareholders along the sell-side process: marketing materials preparation, screening and selection of the relevant financial buyers, valuation guidance, management of the due diligences, negotiation of terms and conditions of the deal, assistance to the social communication phase, management package assessment and negotiation, etc.

About the deal

GSRI is a French specialist in inspection, testing and consulting dedicated to underground infrastructures (water & sewerage networks); they also provide services for bridges, dams and railways. The group was founded by Idriss Benslimane, in 1997, and now relies on more than 100 engineers and technicians based in Paris and Lyon.

GSRI is embarking on this new MBO transaction with Pragma Capital, who takes a majority stake in the deal – the company has historically been owned by its management and BPI France. GSRI has plans to accelerate its growth in both France and internationally by strengthening its technological offer and by using acquisitions to establish itself in new geographies. It is also benefiting from a buoyant market environment, boosted by the ‘Grand Paris’ infrastructure project and the 2024 Olympic Games.