Infraneo, an engineering group specialized in infrastructure management, announces the acquisition of Martin GmbH, a company specialized in corrosion protection systems for pipelines, based in Hattingen, Germany. One month after the acquisition of Esiris group, Infraneo has completed its third external growth operation since the arrival of Sparring Capital as majority shareholder.
Founded in 1970, Martin GmbH is a German engineering company dedicated to anti-corrosion systems that assists its customers in the protection of their pipelines. The company has an excellent reputation and offers inspection and supervision services to public energy and water management institutions as well as to industrial and petrochemical companies.
Martin GmbH, with 45 employees whose technical skills are recognized throughout Germany and Europe, brings an essential expertise to the energy sector. The company has also been able to gradually expand its offer and its customer portfolio and has identified promising growth drivers for the coming years.
As a result of this operation, Infraneo has established itself in Germany on a niche market with good growth prospects. After opening offices in Belgium and Spain, Infraneo, which now has revenue of nearly €50m, is accelerating its European expansion and consolidating its position as a leader in soil, water cycle, construction, mobility and energy infrastructure engineering. The Martin GmbH team will be led by Nicolas Martin, based in Hattingen.
Bruce XISTE, Chairman of Infraneo, states: ”Already present in Belgium and Spain with the opening of local branches, the group is accelerating its European expansion with the acquisition of Martin GmbH. This merger provides Infraneo with complementary expertise in the dynamic German energy infrastructure market.”
Nicolas MARTIN, CEO of Martin GmbH, says: “We are happy to be part of Infraneo. The two companies have the same values, namely, efficient teams recognized by their customers, agile management and expertise in their technical professions.”
Dieter MARTIN, Chairman of Martin GmbH, adds: “I am happy that the family business is in good hands and I am sure of a positive development. Being able to offer our quality standards and reliability as a member of Infraneo is a good signal for our employees and customers.”
Arnaud LECLERCQ, CEO of Sparring Capital, states: ”Under the leadership of Bruce Xiste and his team, Infraneo is experiencing remarkable growth. Since Sparring’s acquisition in 2018, the group has quadrupled its revenue, while improving its profitability ratios and strengthening its organization. The fragmentation of the underlying markets and their structural growth still offer very good development prospects.”
Infraneo (Bruce Xiste, Jérôme Garnier)
Sparring Capital (Arnaud Leclercq, Benjamin Zowczak, Diane Perrin-Pelletier)
Crédit du Nord (Yvan Mathieu, Andriy Gromov, Ahlem Jaafar)
BNP Paribas (Kévin Lechartier, Paul Mortier)
Caisse d’Epargne Ile-de-France (Cédric Alin, Maxime Moysan)
M&A advisor to investor:
Active M&A Experts (Björn Voigt, Kai-Henrik Barth), Linkers (Didier Busquet)
M&A advisor to the sellers:
IVC Mergers & Acquisitions (Peter A. Frankenberg)
Legal counsel to investor:
Reed Smith (Marc Fredj, Guillemine Berne, Fernand Arsanios, Guillaume Chaboureau), Qivive (Larissa Wohlgemuth)
Legal counsel to the sellers:
Aulinger (Stephan Löwisch)
Legal counsel to senior banks:
De Pardieu (Christophe Gaillard, Thibaut Lechoux), Poellath (Philipp von Braunschweig)
Financial due diligence of the buyer:
RSM (Eric Fougedoire, Volkmar Berner)