Tikehau Capital Raises Over €1 Billion to Fuel Egis’ Global Growth

Key Takeaways

Sector: Business Services.
Geography: France.

Analysis

Tikehau Capital has raised more than €1 billion ($1.08 billion USD) to fund the next phase of expansion for Egis, a global engineering and infrastructure firm, via its first private equity continuation fund. This transaction marks a major milestone in Tikehau’s decarbonisation investment strategy, supported by an investor consortium led by Apollo S3, the Abu Dhabi Investment Authority (ADIA), and Neuberger Berman.

Tikehau Capital first invested in Egis in January 2022, acquiring a majority stake from French public institution Caisse des Dépôts et Consignations (CDC). That transaction was executed via the first vintage of Tikehau’s private equity decarbonisation strategy and aimed to support Egis’ internationalisation, digitalisation, and strategic M&A initiatives. The initial partnership enabled Egis to accelerate its growth well ahead of plan, setting the foundation for this latest continuation fund.

The new capital will help Egis double its size by 2028 and fuel its international expansion, especially through strategic M&A in high-growth regions such as North America. The continuation fund also includes additional capital commitments to support future equity increases, ensuring Egis has the financial flexibility to pursue its ambitious roadmap.

This new fundraise is the fourth investment under the second vintage of Tikehau’s decarbonisation strategy, which has now surpassed €2 billion in commitments—1.5 times larger than the first vintage and raised within just one year. The capital will support Egis’ aggressive buy-and-build strategy, while CDC remains a key shareholder in the business.

Founded in France, Egis is a global leader in architecture, consulting, and engineering services, with operations in over 100 countries and more than 20,500 employees. The company designs and operates sustainable infrastructure and smart buildings that address climate change, urbanization, and mobility needs.

Since Tikehau’s initial investment, Egis has exceeded growth targets, more than doubling its EBITDA and surpassing €2.2 billion ($2.4 billion USD) in revenue in 2024. The company aims to enter the top 10 global engineering firms, while focusing on delivering low-carbon solutions for cities, transport, and energy systems.

Mathieu Badjeck, Pierre Abadie, and Emmanuel Laillier, Tikehau’s senior private equity leaders, praised Egis' management team for executing a bold transformation since 2022 and expressed confidence in Egis’ continued growth and global impact.

Laurent Germain, CEO of Egis, and Olivier Gouirand, CFO, welcomed the support from new investors and highlighted the strategic importance of the funding to scale internationally. “This partnership with Tikehau Capital and our new investors allows Egis to accelerate its ambition and build a global platform aligned with the decarbonisation agenda,” Germain said.