Asterion Industrial Partners and Mirova to acquire French energy services provider
Asterion Industrial Partners has finalised its first acquisition. Together with asset manager Mirova, the company is acquiring Proxiserve, a French energy services provider, in a deal worth EUR720 million (US$818.1 million).
Proxiserve was a subsidiary of Veolia - the former Veolia Habitat Services - until 2011, when it was transferred to the French fund Latour Capital and the management team, who own 75% of the company. This latest transaction, coordinated by Natixis, gives Asterion and Mirova each 40% stakes in Proxiserve, with the management team to retain the remaining 20%.
The acquisition is still subject to approval by the corresponding competition authorities.
Proxiserve operates in four main business lines: heating, housing maintenance, metering and electricity. It has recently expanded through partnerships with major car companies to install charging points for electric vehicles across France.
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