DC Advisory advised OMERS on the disposal of a majority stake in Trescal to EQT Infrastructure

Background

• Established in 2004 and headquartered in Paris, Trescal stands as a global leader in calibration services offering a comprehensive range of solutions supported by measurement, repair, qualification, validation and asset management

• Trescal operates across a diverse range of critical end markets such as transport, healthcare, telecoms and other sectors relying on a network of more than 380 facilities worldwide

• Trescal is recognised for its global expertise and “one-stop-shop” approach in calibration including accredited, in-house, traceable and customer on-site services covering all OEMs’ brands and c.800 accreditations

• Under the leadership of OMERS, Trescal has doubled in size, diversified into new high growth market segments such as life sciences, and expanded its geographic footprint into seven new markets including South Korea and Australia. Alongside delivering strong organic growth, Trescal completed 47 acquisitions

• Trescal employs 4,400 people in 29 countries and has an annual turnover of around €480 million

Process

• DC Advisory (DC) acted as exclusive financial advisor to OMERS and Trescal

• DC conducted a competitive process with a limited number of PE funds, pre-qualified for their appetite for Trescal

Outcome

• In November 2022, EQT Infrastructure entered exclusive negotiations to acquire a majority stake in Trescal

• OMERS will re-invest in the proposed transaction, retaining a significant minority stake (25%) alongside EQT Infrastructure and the management team

• Together they will support the continued development of Trescal and its pursuit of international growth opportunities in current and new geographies and end markets

• The proposed transaction remains subject to several conditions including completion of consultations and customary approvals by the antitrust and other regulatory authorities and signing of a definitive agreement. The transaction is expected to close in Q1 2023