Eight Advisory carried out the financial buy-side due diligence for ICG in the context of the acquisition of Infra Group

16 July 2021

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Infra Group is the Belgian leader in the installation and maintenance of infrastructure networks, founded in 1960. Infra Group and its 1,850 employees generated €350m in revenues from projects in the fields of electricity, telecoms, gas and district heating, water and sanitation, industry and public lighting, with an EBITDA of €50m.

Intermediate Capital Group is an English private equity investment firm with $59.6bn under management, focused on providing capital to help companies grow through private and public markets and provides a number of strategies and funds aimed at institutional investors. It is headquartered in London, England, with offices in a further 13 countries, and is a constituent of the FTSE 100 Index.

The transaction consists of the 4th LBO of Infra Group, led by ICG which becomes the new majority shareholder. Andera, already present in the capital since 2019, also participates in the transaction, as well as the management of Infra Group.

The Eight Advisory team was composed of Mathieu Morisot, Pieter Wygaerts, Edouard Decamp, Henri Lippinois and Nicolas Wemaere.