Sparring Capital sells its stake in Novakamp

Sparring Capital, a shareholder since 2020, has sold its entire stake in Novakamp to a consortium of investors led by Siparex Midcap, also comprising Crédit Agricole (via GSO Capital and Socadif), BNP Développement and Bpifrance, which enters Novakamp’s share capital as the majority shareholder, alongside the Group’s Management, which is making a significant reinvestment on this occasion.

Formed in 2020 following the merger of two defence-sector companies (Novae and Kapi), and led by Emmanuel Chopin (Chairman), Augustin de Castet and Nicolas Aumont (Managing Directors), the NovaKamp Group has established itself as the French specialist in critical infrastructure services and solutions for base camps and remote sites, and for complex or degraded environments (military camps, defence infrastructure, industrial sites, etc.).

Headquartered in the Île-de-France region, with operations in Nouvelle-Aquitaine and Luxembourg, the Group designs, integrates and operates network infrastructures as well as modular and containerised solutions dedicated to energy generation and distribution (generator sets, photovoltaic and hybrid solutions, electrical networks) and to water treatment, whether for drinking water or wastewater. Historically focused on off-grid energy generation and distribution, NovaKamp has gradually broadened its scope to other vital utilities (water, IT/telecom) by leveraging its expertise in critical infrastructures in remote sites. The Group serves a portfolio of top-tier key accounts, mainly in the defense sector, including the French Ministry of the Armed Forces. It supports French forces deployed on overseas operations, and also works with one of France’s industrial prime contractors, alongside major industrial players in telecommunications, energy, and other sectors.

Since the combination of Kapi and Novae at the time of Sparring Capital’s investment in 2020, NovaKamp has carried out a deep organisational transformation, notably through the build-up of a high-calibre management team led by Emmanuel Chopin. Over the past five years, the Group’s revenue has doubled to nearly €50 million, driven by both organic growth and external growth, while strengthening its industrial, technological and organisational foundations and diversifying its activities and customer base. Operating in more than 60 countries, NovaKamp, with around 120 employees, now positions itself as a key player in autonomous infrastructures with high energy and environmental performance.

The investor consortium, led by Siparex Midcap and comprising Crédit Agricole’s GSO Capital and Socadif, BNP Développement and Bpifrance (notably through its dedicated defence fund Definvest), intends to support the Group in continuing its growth trajectory, alongside a Management team meaningfully invested in the capital. This new phase aims in particular to strengthen and sustainably structure the military business, accelerate development in the civilian segment, and continue the innovation and industrialisation of solutions with strong environmental impact. NovaKamp also intends to pursue an active buy-and-build strategy, with several opportunities currently under review. The transaction also enables Sparring Capital’s exit after being a shareholder since 2020.

Johann Le Duigou, Managing Partner, Sparring Capital, said:

” We are very proud to have supported NovaKamp through this phase of structuring, strategic diversification and growth. The Group is now a key player in the ‘off-grid utilities’ space and has particularly strong fundamentals to continue its development “.

Emmanuel Chopin, Chairman of NovaKamp, added:

“Sparring Capital’s support was instrumental in structuring the Group, strengthening our expertise, driving innovation and supporting the diversification of our activities, both in Defence and Civil markets. The arrival of Siparex and its co-investors marks a new stage in NovaKamp’s development, enabling us together with the existing and reinforced management team to continue our growth and innovation trajectory for the benefit of our customers and all our partners, civilian and military alike “.