Acquisition of MasterGrid by Ardian alongside the management team
FR
Sycomore Corporate Finance acted as Financial Advisor to Ardian in its acquisition of a majority stake in MasterGrid, alongside the management team
On May 22nd, 2025, Ardian, a world-leading private investment house, signed an exclusive agreement to acquire a majority stake in MasterGrid alongside the management team.
Rationale
Ardian’s investment will support MasterGrid’s ambitious growth strategy. With its unique technical expertise and long-standing client relationships, the company plans to capitalize on the expected massive investments in the electricity infrastructures, pursue the diversification in new equipment, and further accelerate its international expansion, particularly in Europe and the Middle East.
MasterGrid is a leading provider of maintenance services and manufacturer of equipment for critical electrical infrastructure, notably on the most technical high-voltage segment.
Headquartered in Grenoble and historically a business unit of Siemens, MasterGrid was carved out by Siemens to Andera Partners in 2019. Since then, the Group, which was focused on the manufacturing and maintenance of Merlin Gerin installed base of equipment, has successfully diversified its offering and expanded into 11 new countries both through organic and external growths (7 acquisitions realized since 2020).
Today, MasterGrid operates across three main segments: proprietary services and equipment (manufacturing, spare parts and maintenance), services on third party equipment, and engineering & solutions. The Company mainly provides its services and equipment to power generation companies, transmission & distribution system operators, and private connections for industries and infrastructures.
MasterGrid is ideally positioned in a market driven by key megatrends around the sustainable energy transition, ageing infrastructure, and growing electricity needs. These trends are expected to drive further demand from MasterGrid’s customers, enhancing the Company’s long-term growth prospects.
Ardian is a world-leading private investment firm, managing or advising $177bn of assets on behalf of more than 1,850 clients globally. Its broad expertise, spanning Private Equity, Real Assets and Credit, enables to offer a wide range of investment opportunities and respond flexibly to its clients’ differing needs.
Ardian Customized Solutions creates bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide.
Ardian’s main shareholding group is its employees and the Group places great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Its 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. The Group’s goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.