CapVest Acquires Energy Services Firm TSG Solutions

CapVest Partners LLP has finalized its acquisition of a controlling interest in TSG Solutions, a significant player in technical services for Europe's vital energy networks. This strategic move by the New York and London-based investment firm signals strong confidence in the evolving energy sector and TSG's established position within it.

Operating across 30 European nations with a workforce exceeding 7,000 professionals, TSG Solutions generates annual revenues surpassing €1.4 billion. The company's expertise spans the design, construction, and maintenance of critical energy infrastructure, encompassing electrical systems (high, medium, and low voltage), charging infrastructure, solar installations, battery energy storage systems (BESS), biofuels, and gas/biogas facilities. This broad multi-energy capability, coupled with deep technical acumen and extensive geographic reach, has fostered enduring relationships with major energy operators.

The acquisition is particularly timely given the accelerating demand for electrification and the substantial investments required to modernize Europe's energy infrastructure. TSG is well-positioned to capitalize on these structural growth trends. The company's growth strategy heavily features bolt-on acquisitions, having successfully integrated nearly 50 businesses in less than four years across 20 countries. Recent additions include Powertek Utilities in the UK for grid connections, TEPU Holding AG in Switzerland focusing on data center electrical services, and Processkontroll Green Technology in the Nordics for gas infrastructure. CapVest intends to further accelerate this acquisition program under its ownership.

CapVest, recognized for its strategy of partnering with essential goods and services providers and scaling them through organic and acquisition-driven expansion, sees significant potential in TSG. The management team of TSG, alongside existing investor HLD, has reinvested, retaining substantial minority stakes. This demonstrates a shared belief in the company's future prospects and growth trajectory.

Fred Raikes, a Partner at CapVest, expressed enthusiasm for the partnership, highlighting TSG's crucial role in serving both traditional and new energy markets. He emphasized the opportunity to accelerate growth through both internal initiatives and strategic acquisitions. Jean-Marc Bianchi, Chairman & CEO of TSG, welcomed the new chapter, noting the alignment between CapVest's investment philosophy and TSG's ambitions. He also acknowledged the contributions of his employees and the support from HLD during the company's initial growth phase.

Cédric Chateau, Partner and Chairman of the Investment Committee at HLD, reflected on TSG's rapid expansion over the past five years, particularly in electric mobility, solar, and energy storage. He affirmed that the company is now primed for further scaling, with significant growth potential ahead, and expressed pleasure in continuing the journey with TSG management and CapVest.