Quilvest Private Equity has teamed up with Bpifrance to acquire French communications networks installation and systems integration specialist Sogetrel from Equistone.
Founded in 1985, Sogetrel partners with major public and private operators and local authorities, particularly in the rollout of ultra-high broadband networks. Sogetrel is also involved in communicating solutions (electronic security, connected objects, and machine-to-machine applications) including the recent rollout of the Gazpar smart meter for Grdf (Engie Group).
With an estimated turnover of more than EUR250 million in 2015 and a sharp increase compared with the previous year, Sogetrel employs a staff of 2,200 at 40 sites in France, Belgium and Switzerland. The headquarter is located in Issy-les-Moulineaux near Paris.
As a shareholder of Sogetrel since 2006, Equistone, together with Ardian, Capzanine, ICG and Idinvest, has always supported the group in its development strategy, particularly as it deepened its relationship with Orange and local authorities, and acquired ITA and TBF in its first year of operations followed by Greselle and more recently a fourth company in 2015.
As part of an organised selling process, Quilvest, together with Bpifrance, has signed an agreement with Sogetrel’s existing shareholders to purchase the company, thus allowing a rapid shareholder transition in line with the group’s plan. The transaction should be finalised in early 2016. The transaction is subject to the approval of French regulatory authorities.