Background

  • Headquartered in Paris, OCEA Smart Building (“OSB”) is a leading player in the French market for smart metering infrastructure, with more than 3 million water and heat sub-meters installed
  • The Group provides a comprehensive range of services enabling a greater control of water and heat consumption by its customers, including installation & rental of sub-meters, reading & data collection, maintenance, as well as value-added auxiliary data management services. Since early 2019, OSB has expanded its activities into the installation, rental and management of Electric Vehicles Charging Stations
  • OSB operates across 27 operating sites in France with over 450 employees

Process

  • Leveraging on its strong knowledge of the sub-metering market and contacts in the sector, DC Advisory was mandated by the Infrastructure team of Intermediate Capital Group (ICG) to act as both its exclusive M&A and financing adviser
  • DC Advisory assisted ICG Infra which successfully pre-empted a highly competitive sale process with the backing of the management team. In parallel, DC Advisory helped ICG secure a binding financing package within an accelerated time frame

Outcome

  • ICG entered into exclusive negotiations for the acquisition of OSB from InfraVia
  • This transaction will be the second investment of ICG's European Infrastructure team, which was established in 2018