About the deal

Infraneo is a TIC (Testing, Inspection and Certification) services provider focused on asset integrity. Infraneo is specialized in infrastructure, notably bridges, railways, water & energy networks and large buildings.

Acquired by Sparring Capital in 2018, Infraneo has quadrupled in revenues to reach €55m in 2022, boosted by organic growth and 4 acquisitions completed in France and in Germany.

Infraneo is going through a secondary buy-out supported by Seven2 Partners to accelerate growth and reach €200m+ revenues in 5 years, by implementing its buy & build strategy in Europe.

What we did

Capitalmind Investec supported Infraneo shareholders throughout the transaction process: defining deal tactics and timing, designing the “equity story”, screening for build-up targets in targeted European countries and contacting target owners, qualifying investors which were most likely to value Infraneo positioning and support its development alongside Bruce Xiste, organising a competitive bid process and creating the right level of tension to meet shareholders objectives in terms of valuation.

Capitalmind Investec has especially leveraged its sector expertise in the TIC industry and strong experience of private equities to manage this successful secondary buy-out.

Capitalmind Investec was the natural choice to support the sale of Infraneo, given their perfect understanding of the Infraneo business and challenges of the transaction. Capitalmind Investec has then demonstrated unfailing professionalism and commitment throughout the sale process. This was complemented by human skills that were deeply appreciated by all parties involved into the transaction. Many thanks to Michel Degryck and his team!

ARNAUD LECLERCQ
President, Sparring Capital