Linklaters advises EQT on entering exclusive negotiations with ICG Infra to acquire Ocea Group

Linklaters advised EQT Active Core Infrastructure (“EQT”) on entering exclusive negotiations with ICG Infrastructure Equity I (“ICG Infra”) to acquire Ocea Group (“Ocea”), a leading French water and heat sub-metering infrastructure provider. 

Ocea is a provider of smart water and heat metering infrastructure in France. Operating more than 4 million heat and water submeters, Ocea provides a comprehensive range of sub-metering services to over 7,000 public and private customers. 

Applying its track record in the energy and environmental sectors, EQT plans to further accelerate Ocea’s growth in its core sub-metering business and across other adjacent solutions in the environmental, data management and smart housing segments. 

The transaction is subject to customary regulatory conditions and approvals including information and consultation of the works council of Ocea. It is expected to close in Q2-Q3 2024.

The Linklaters team was composed of Florent Mazeron, partner, Julie Bailly, managing associate, Géraldine Gonzalvez, Virgile Morel, and Estel Robert, associates in Corporate/M&A, Thomas Elkins, partner, Clelia Di Pasquale, associate, in Antitrust and Foreign Investments, Fanny Mahler, partner, Thibaud Troublaïewitch, managing associate in Public Law/Energy and Infrastructure, Pauline Debré, partner, Jean-François Merdrignac, counsel, Samara Moussa, associate, in Intellectual Property, Sonia Cissé, partner, Faustine Piechaud, managing associate, Thomas Feigean, associate, in Technologies, Media and Telecommunications, Françoise Maigrot, partner, Marie Raynaud, associate, in Real Estate, as well as Lionel Vuidard, partner, and Cécile Boulé, associate in Employment Law.