Private equity firm CapVest Partners LLP has completed its acquisition of a majority stake in TSG Solutions, a prominent European provider of technical services for critical energy infrastructure, following the receipt of all regulatory approvals.
Headquartered in Paris, TSG operates in 30 countries with a workforce exceeding 7,000 employees and annual revenues top €1.4 billion. The company provides design, construction, and maintenance services across high-, medium-, and low-voltage electrical networks, EV charging infrastructure, solar power, battery energy storage systems (BESS), biofuels, and biogas networks.
The completion of the deal marks a continuation of TSG’s aggressive expansion model, which has seen the group complete nearly 50 acquisitions across 20 countries in under four years.
Recent additions to TSG’s portfolio include:
- Powertek Utilities (UK) – electric grid connections and upgrades
- TEPU Holding AG (Switzerland) – electrical services for complex data centre infrastructure
- Processkontroll Green Technology (Nordics) – compressed and liquid gas infrastructure
Under CapVest’s ownership, TSG plans to accelerate its buy-and-build strategy to broaden its technical capabilities and extend its geographic footprint across Europe, with several additional acquisition targets currently under evaluation.
CapVest, which operates out of New York and London, specialises in acquiring companies providing essential goods and services, driving growth through a combination of strategic investments and targeted M&A.
Existing investors HLD alongside TSG’s management team have reinvested in the business, retaining significant minority stakes.
Commenting on the completion, Fred Raikes, Partner at CapVest, noted that TSG occupies a crucial position within Europe’s energy transition, serving both traditional fuel and new energy markets. He highlighted the opportunity to accelerate the company’s trajectory through organic initiatives and strategic acquisitions.
Jean-Marc Bianchi, Chairman and CEO of TSG, stated that the partnership aligns with the firm’s growth ambitions, emphasizing CapVest’s focus on investing in people, innovation, and expansion. Cédric Chateau, Partner and Chairman of the Investment Committee at HLD, added that TSG remains well-positioned to scale further across electric mobility, solar, and energy storage markets.
