Cornet Vincent Ségurel assists Fondasol in the acquisition of a majority stake in Canadian company DEC Enviro

Founded in France in 1958, Fondasol Group (forecast sales of €100m in 2024) is an expert in consulting engineering for the construction industry. It has announced the acquisition of a 60% stake in Canadian company DEC Enviro (forecast sales of CAD11m in 2023), which specialises in environmental engineering, geotechnics, materials engineering, hydrogeology and building sciences. The remainder will be held by Kevin Donovan, head of DEC Enviro.

With this acquisition, which follows on from the integration of Canadian company Solroc at the end of 2020, the Fondasol Group is doubling its activity and workforce in North America (sales of CAD 23 million for 160 employees), with more than 20% of its sales generated outside France.

This operation is part of the overall growth and diversification strategy of the French Fondasol Group, which aims to position itself in innovative market segments and to become a major international player, particularly in North America.

In this region, the complementary nature of DEC Enviro’s and Solroc’s resources, expertise and business sectors will strengthen the Group’s ability to respond to calls for tender in North American public procurement markets, including the United States, in a buoyant context for major infrastructure projects and urban renewal initiatives.

Participants:

Purchaser: Fondasol (Olivier Sorin, Caroline Notre-Dame)

Seller : Manager (Kevin Donovan)

Advisors:

Lawyers Purchaser :

• Corporate: Cornet Vincent Ségurel (Emmanuel Mansillon, Victoire Miniscloux)
• Canada and DD legal and tax: Fasken Martinaud
• Tax law: EY société d’avocats (Christian Desjardins)

M&A Advisory Acquirer : Allinvest (Vincent Behr, Stéphane du Périer, Manon Ardouin)

Financial DD Buyer : EY TS

M&A advisor Seller : BDO

Lawyer for the seller : Gowling WLG