International law firm Bird & Bird has advised Artemid, BNP Paribas Asset Management, BNP Paribas, Bpifrance Investissement, Banque Populaire Rives de Paris, Caisse Régionale de Crédit Agricole Mutuel d’Acquitaine, Crédit Agricole Corporate and Investment Bank, Cerea Partners, La Banque Postale, LBP AM and Generali as lenders and Crédit Agricole Corporate and Investment Bank as agent, in the refinancing of Babcock Wanson Group’s debt.
Bird & Bird also advised Ambienta’s acquisition of a stake in Babcock Wanson Group, alongside Kartesia.
Babcock Wanson is a leading European player in the energy transition, specialising in equipment and services for industrial boilers. With operations in 11 European countries, 6 production sites and more than 1,150 employees, the Group generates annual sales of around €300 million. The Group focuses on optimising steam production through the manufacture of boilers and the development of adjacent environmental solutions such as heat recovery systems and air and water treatment systems, while rounding out its offering with after-sales services. By drawing on its manufacturing expertise, Babcock Wanson aims to reduce the cost and increase the efficiency of industrial boilers, thereby significantly minimising its customers’ carbon footprint.
This refinancing and change of control will enable the Group to pursue its European development strategy and its policy of decarbonising European industry, in particular through its range of products and services designed to reduce the environmental footprint of its customers.
The lenders, including BNP Paribas and Crédit Agricole Corporate and Investment Bank, were advised by Bird & Bird, with partner Jessica Derocque and associate Daphnée Raffard in charge of the financing aspects of these two transactions.
Babcock Wanson Group and Kartesia were advised by De Pardieu Brocas Maffei’s financing team (Sébastien Boullier de Branche and Oneda Durmishi) and corporate team (Sandra Aloui and Mélanie Jaouën) for the purposes of these transactions. Ambianta was advised by Weil, Gotshal & Manges LLP (Frederic Cazals, Yan Boistay and Louise Faure).
