Kartesia-backed Babcock Wanson comes to the boil with Parat and PBS

• Combining these two deals, the firm has a total of 3 acquisitions in 2022
• The firm had acquired Donau Carbon Technologies in October
• The deal was supported by Babcock’s majority shareholder Kartesia

Babcock Wanson, with Kartesia’s support, has acquired Parat, and PBS Power Equipment, in a move to solidify its standing in the market for the energy transition of Europe’s manufacturing industry.

Parat is a Norwegian company specialising in high-voltage boilers, whereas PBS Power Equipment, a Czech company based in Trebic, offers industrial boiler services in central Europe.

This merger was assisted by Kartesia.

“We have been at Babcock Wanson’s side since 2016 and strengthened our collaboration in July 2021 by becoming the group’s majority shareholder as we firmly believe in the management team’s project and its capacity to deploy it,” said Julien Rigon, director at Kartesia.

The two deals marked the completion of Babcock’s 2022 external growth programme, which totalled three acquisitions, including Donau Carbon Technologies in October.

Kartesia, headquartered in London, is a pan-European firm financing small and middle-market companies. The firm manages over €5 billion of assets, and the team comprises 90 professionals.  It has offices in Brussels, London, Luxembourg, Madrid, Munich, Milan, Amsterdam, and Paris.

Babcock Wanson is focused on energy transition, providing equipment and products for industrial boiler rooms. It is headquartered in France and has offices across Europe.