PE Deals

ICG buys further stake in OSB from CAA

Ocea Smart Building is a firm in the French market for smart water & heat metering infrastructures.

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  • ICG acquired its initial stake in OSB in 2019
  • ICG is a global alternative asset manager based in London
  • The firm has $74.5bn in assets under management

ICG (Intermediate Capital Group), via its ICG Infra I fund, has acquired a further stake in Ocea Smart Building (OSB), a firm in the French market for smart water and heat metering infrastructures, from Crédit Agricole Assurances (CAA). No financial details of the transaction were disclosed.

OSB is headquartered in Courbevoie, France.

ICG acquired its initial stake in OSB in 2019 and it will now hold 100 percent of OSB alongside the management team, according to a release.

“By further investing in OSB, we are demonstrating our confidence in the company and the management team as we support the energy transition for the French residential sector, where the need for energy savings is more present than ever,” said Guillaume d’Engremont, head of infrastructure at ICG.

ICG is a global alternative asset manager that provides flexible capital services to help businesses grow and expand. The firm has $74.5 billion in assets under management and is based in London.

CAA is an insurance group headquartered in Paris, France.