Wendel Acquires Scalian from Cobepa

Ardian-led Consortium Acquires Vulcain Engineering (LBO)

December 22, 2023

Engineering Services

Ardian is leading a consortium including Tikehau Capital, EMZ, Bpifrance, Amundi and the Fonds France Nucléaire (managed by Siparex) in a leveraged buyout of Vulcain Engineering. The transaction effects the exit of existing shareholders Equistone Partners Europe and Sagard while co-CEOs Frédéric Grard and Alban Guilloteau and more than 350 employee-shareholders strengthen their positions. The new financing will provide resources to accelerate Vulcain's international expansion, digitisation of engineering processes and continued external growth via acquisitions.

SQUAD Acquires SCASSI Conseil and SCASSI Ciberseguridad

May 13, 2024

Cybersecurity

French cybersecurity firm SQUAD (backed by Abenex) has taken a stake in and integrated SCASSI Conseil and its Spanish subsidiary SCASSI Ciberseguridad to broaden its industrial and embedded-systems cybersecurity capabilities and accelerate growth in Spain. The move strengthens SQUAD Group's 360° cybersecurity offering and supports the company's plan to become a European cybersecurity leader by 2026.

Cobepa Acquires Majority Stake in Itineris

June 23, 2025

Software

Cobepa has signed an agreement to acquire a majority stake in Itineris, a Ghent-based provider of customer information systems and utility software. Existing institutional investors PMV, Gimv, Smartfin and SFPIM will exit, while founder and CEO Edgard Vermeersch remains the largest non-institutional shareholder; the investment is intended to accelerate growth, expand Itineris' global footprint, and strengthen its software capabilities for water and energy utilities.

Cicor Group Acquires Significant Business Activities of Éolane Group

April 18, 2025

Manufacturing

Cicor Group has had its offer accepted by the Paris Commercial Court to acquire significant business activities of the French Éolane Group. The deal, closing April 22, 2025, adds around 890 employees and CHF 125 million of sales, expanding Cicor’s EMS footprint in France and strengthening its position in aerospace & defence, railway and nuclear technology markets.

SCALIAN Acquires MANNARINO Systems & Software

June 21, 2024

Aerospace & Defense

SCALIAN has acquired Canadian avionics and safety-critical systems specialist MANNARINO Systems & Software Inc., strengthening SCALIAN's avionics, embedded software and certification capabilities in North America. The deal expands SCALIAN's system & software engineering footprint—particularly in Advanced Air Mobility, eVTOL and drone markets—and brings MANNARINO's Transport Canada DAO and near-complete ARINC 653 RTOS certification into the group.

Bain Capital Acquires Controlling Stake in Engineering Group

February 5, 2020

IT Services

Bain Capital Private Equity signed a definitive agreement to acquire a controlling stake in the Engineering Group, the leading Italian IT services and digital transformation business, from funds advised by Apax Partners and Neuberger Berman. Neuberger Berman will reinvest alongside Bain Capital; the transaction remains subject to regulatory approvals. Engineering is headquartered in Rome and employs more than 11,000 professionals across multiple countries.