• With this transaction, Vauban increases its stake in Proxiserve to 99.7%
  • Since acquisition by Asterion and Vauban in 2019, Proxiserve grew its smart meters asset base and introduced new EV products
Vauban and Asterion acquired Proxiserve as co-controlling shareholders in 2019. Today, Vauban has strengthened its position in Financière Groupe Proxiserve (« Proxiserve » or the « Company ») by becoming its sole reference shareholder. 

Proxiserve, a leading French company in the energy services sector, owns and operates notably more than 4.5 million water and heat meters, which on average reduce energy consumption by 15%. Proxiserve also contributes to the decarbonization of transportation by being the leader in installation of electric vehicles charging stations, with 125,000 stations installed since 2013.

From 2019 to 2022, with the support of the shareholders to the Management’s strategy, Proxiserve continued its strong and steady growth, while demonstrated a remarkable resilience during the pandemic crisis. Proxiserve is now very well positioned to seize the numerous growth opportunities arising from its underlying markets.

This bilateral transaction represents an opportunity for Vauban to invest in one of the key players in energy services in France, whose activities benefit from promising markets and the support of public authorities towards the energy transition. Vauban has now exclusive control over the Company and will enable the company to accelerate its development in promising and added value activities such as the operation of heat meters and heat pumps.

Stéphane Caine, Chairman and CEO of Proxiserve, says: “We would like to thank Asterion and Vauban for supporting Proxiserve during what has been a turbulent time. Today, we are a company well positioned to seize the numerous growth opportunities offered by our underlying markets and we look forward to continuing our growth trajectory with Vauban, who has already proven to be of great value.”

Vincent Cassagne, Investment Director and Partner at Vauban Infrastructure Partners, added: "The increase of Vauban's stake in Proxiserve is in line with our first investment in the company in 2019. We consider that Proxiserve is not only aligned with Vauban's ESG policy, but that the Company also contributes to creating value over the long term. Proxiserve benefits from a balanced portfolio of businesses, cutting-edge technologies and a highly diversified client base with broad national coverage to provide sustainable services to all. We would like to thank Asterion for this fruitful cooperation between likeminded investors".

Nicole Hildebrand, Partner at Asterion Industrial Partners, concludes: “The growth of Proxiserve’s business over the last few years has been tremendous and Vauban and the Company’s management team have played an instrumental role in developing Proxiserve into one of France’s leading energy services companies. We are leaving the Company in the hands of a shareholder fully committed to the further growth of the business and its people.”

For further reading:
About Vauban Infrastructure Partners
Vauban Infrastructure Partners is a leading Infrastructure Asset Manager focused on core infrastructure investments. Headquartered in Paris, the Company employs over 65 professionals, the majority of whom have been working together for over a decade.

Vauban targets predominantly European brownfield mid-market assets, and pursues a long-term, yield-driven strategy that matches the underlying nature of the assets & the long-term commitment to all stakeholders’ interests through a strong focus on creating sustainable value. Vauban has raised c.€7.2 billion in core infrastructure from over c.100 investors from 17 different countries and has invested in over 70 assets in the mobility, energy transition, social infrastructure, and digital infrastructure sectors across 13 different geographies.

Vauban Infrastructure Partners
Affiliate of Natixis Investment Managers
Société en Commandite par Actions – Limited Partnership by shares
Share capital : €10 076 680.20
Regulated by the Autorité des Marchés Financiers (AMF) under n° GP – 19000044
RCS Paris 833 488 778
115 Rue Montmartre 75002 Paris

Natixis Investment Managers
RCS Paris 453 952 681
Share Capital: €178 251 690
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75013 Paris

This communication is for information only and is intended for investment service providers or other Professional Clients. The analyses and opinions referenced herein represent the subjective views of the author as referenced unless stated otherwise and are subject to change. There can be no assurance that developments will transpire as may be forecasted in this material.

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