Background: 

  • Founded in 1998, Vulcain Ingénierie (Vulcain) is a leading French engineering consultancy group serving the energy and pharmaceuticals sectors. Due to its specialist positioning, Vulcain has grown into a key player in its market, with a strong reputation amongst the main contracting parties
  • Following an investment from Initiative & Finance in 2013 and NiXEN Partners as majority shareholder in 2014, Vulcain has experienced significant growth, driven by an active buy-and-build growth strategy
  • Vulcain relies on a network of 12 subsidiaries and a workforce of close to 1,400 employees worldwide

Process:

  • DC Advisory was appointed as exclusive M&A advisor to NiXEN Partners and Initiative & Finance to organise a restricted sale process
  • Alongside NiXEN Partners and Initiative & Finance, DC Advisory organised and monitored an accelerated sale process in close cooperation with the management team

Outcome:

  • NiXEN Partners and Initiative & Finance have reached an exclusivity agreement for the disposal of Vulcain to Equistone and the management team
  • With this transaction, Vulcain will continue its development in France as well as pursuing strategic international expansion