Ardian-backed Trescal makes two acquisitions

Trescal, which is backed by Ardian, has acquired Calibration Solutions based in Cornelius, North Carolina and the calibration laboratory of GES SIEMSA, based in Madrid, Spain. No financial terms were disclosed for either transaction.

PRESS RELEASE

September 30th 2014. Trescal, the international specialist in calibration services, announces the acquisitions of Calibration Solutions Inc., based in Cornelius (North Carolina) and the calibration laboratory of GES SIEMSA, based in Madrid, Spain.

The acquisition of Calibration Solutions Inc., (11 employees including 6 engineers and an annual turnover of ~$1.7 million) allows Trescal to expand its footprint on the American market and expand its skills in pressure, temperature and torque. Calibration Solutions is A2LA accredited.

Guillaume Caroit, General Secretary of Trescal Group, said: “We are delighted to welcome Calibration Solutions in Trescal; we are convinced their strong growth and excellent technical skills will help us make the difference in the Carolinas. We still plan to make one or two acquisitions in the US by the end of the year.”

GES SIEMSA calibration laboratory is located in Madrid and employs 21 people (15 technicians) with ~€1.5 million annual sales. The strong skills in temperature/ humidity, gas flow and optical will help Trescal better serve its clients in Spain. This is the second acquisition in Spain this year. The laboratory is ENAC accredited.

These deals were completed with the support of Trescal’s majority shareholder, Ardian, the premium independent private investment company. These acquisitions are the eighth and the ninth build-up following Ardian’s takeover of Trescal in July 2013.

Thibault Basquin, Managing Director in the Mid Cap Buyout team at Ardian, said: “These two new acquisitions are key parts of the external growth plan for Trescal. They are a perfect fit for our strategy and highlight our ambitions for the company. Not only do they bring greater technical expertise to Trescal but they also reinforce the group’s position in two key geographies. We are looking forward to continuing to support Trescal in its development.”

ABOUT ARDIAN
Ardian, founded in 1996 and led by Dominique Senequier, is a premium independent private investment company with assets of US$49bn managed or advised in Europe, North America and Asia. The company, which is majority-owned by its employees, keeps entrepreneurship at its heart and delivers investment performance to its global investors while fuelling growth in economies across the world. Ardian’s investment process embodies three values: excellence, loyalty and entrepreneurship.

Ardian maintains a truly global network, with more than 340 employees working through ten offices in Paris, London, New York, Beijing, Frankfurt, Jersey, Luxembourg, Milan, Singapore and Zurich. The company offers its 345 investors a diversified choice of funds covering the full range of asset classes, including Fund of Funds (primary, early secondary and secondary), Direct Funds including Infrastructure, Expansion, Mid Cap Buyout, Ardian Croissance, Co-Investment and Private Debt.
www.ardian-investment.com

ABOUT TRESCAL
Trescal, international specialist in calibration provides a broad range of services for the test and measuring equipment market. Trescal are represented in 16 countries: Austria, Belgium, Czech Republic, Denmark, France, Germany, Italy, Singapore, Spain, Sweden, Switzerland, the Netherlands, United Kingdom, United States, Romania and Tunisia. Supplementing the standard technical services (verification, calibration and repair of T&M instruments), Trescal offer their expertise for the implementation and acquisition of measurement systems, customized equipment pool management software solutions, metrology and technical support, and training. Trescal operate in 71 calibration laboratories and employ over 1,955 people across the world. Trescal service 28,000 customers in various sectors such as Defence, Aerospace, Aeronautics, Automotive, Power Generation & Utilities, Electronics Manufacturing, Communications and Medical & Chemistry. Trescal’s sales reach 181 million Euros.
www.trescal.com

ABOUT CALIBRATION SOLUTIONS
Calibration Solutions has been in operations since March of 2000. The owner, Robert Ray opened the business to provide test and measurement sales and calibration services. The company has grown rapidly since then and offers services to a variety of industries including but not limited to; Aviation, Biomedical, Biosciences, Construction, Electronics, Energy and Manufacturing.
www.csimetrology.com/

ABOUT GES SIEMSA
GES SIEMSA is the conventional energy division of Global Energy Services (GES), a worldwide leader in services for the renewable energy industry. GES SIEMSA is a top player in Spain and Portugal, providing engineering, installation, commissioning and maintenance work for the energy, industry and oil & gas sectors. With operations in Europe, America and Africa, GES has an unmatched track record in construction and services for wind and solar. GES is owned by 3i, a leading international investor focused on mid-market Private Equity, Infrastructure and Debt Management.
www.services-ges.com

LIST OF PARTICIPANTS
TRESCAL: Guillaume Caroit, Federico Levenson, Léonard de La Hosseraye

ARDIAN: Thibault Basquin, Yann Bak, Arnaud Tardan, Edouard Level

Tax due diligence – US build-up: Alvarez & Marsal Jamie Bowden

Legal counsel – US Build-up: Hooper Hathaway: James Beuche, William Beuche

Financial due diligence – US build-up: PwC: Robert Long, Christopher Engstrom

Structuration & tax – Spain build-up: Mariscal & Asociados: Alberto Alvarez

Financial Due diligence – Spain build-up: PwC: Juncal Vadillo Crespo, Katia Dubor