EQT to acquire majority stake in French calibration company Trescal
EQT Infrastructure V fund has agreed to acquire a majority stake in Trescal, a French calibration company, from Ontario Municipal Employees Retirement System (OMERS), marking the fund’s third investment in France.
Trescal offers regulated calibration services for testing and measurement equipment in end-markets such as transport, telecom, and healthcare.
The Paris-headquartered company operates third-party calibration laboratories and has a global network of over 380 facilities across 29 countries.
Christoph Balzer — EQT Infrastructure’s Advisory Team Partner said: “EQT Infrastructure has followed Trescal for a long time.
“We are deeply impressed by the management team’s achievements in creating a global leader in calibration laboratories with a differentiated one-stop-shop offering to serve its customer’s requirements.
“We believe EQT’s track record of building global companies, industrial DNA, and value-add approach strongly positions us to support the Company in its next phase of growth.”
EQT Infrastructure to acquire majority stake in French calibration company Trescal. Photo courtesy of Trescal.
Previously a part of Air Liquide and created as an independent company in 2007, Trescal generates an annual turnover of around €450 million.
EQT Infrastructure will help Trescal improve its business in existing and new markets, apart from digitizing its operations.
Thomas Rajzbaum — EQT’s French Infrastructure Advisory Team Managing Director and Head said: “Trescal provides mission-critical services to its industrial customers in essential end-markets that are experiencing increasingly stringent requirements.
“We look forward to further strengthening Trescal’s market position through increased investment in the breadth of its laboratories’ capabilities and footprint, commercial excellence, sustainability and cutting-edge digitization.”
Post-closing, OMERS will remain a minority investor together with EQT Infrastructure.
The deal is expected to close in the first half of 2023, subject to antitrust and potential foreign investment clearances alongside other conditions.
EQT Infrastructure’s other two investments in France include the acquisition of Colisee, a European nursing home facilities operator, and SAUR, a French water services management company.