As part of Babcock Wanson Group growth, Christophe de Maistre has been appointed as the new Group CEO.

Christophe brings to the group an extensive background in the energy management, proven executive experience and a recognized ability to lead complex organization through sustained growth and transformation.

The Board wish to express its sincere thanks to Cyril Fournier-Montgieux, who has served as CEO since 2005. Under its leadership, the company has reinforced its operational performance, expanded its market presence and undertaken significant development initiatives.

The appointment of Christophe de Maistre marks the beginning of a new chapter in the company development. Christophe joins the Group with a clear mission and a strong conviction: to accelerate our shift towards electric and low-carbon solutions, a core pillar of our long-term strategy, and to bring our teams and recent acquisitions together as a unified European platform. This change reflects our confidence in the future. What remains unchanged is our trust in our teams, our shared values and in our customers.

We are convinced that Christophe’s leadership and experience will bring new momentum to our journey. 

This communication is made under the authority of the board of directors of Babcock Wanson Group.

Read the full press release

The integration of ACT significantly strengthens Babcock Wanson Group’s footprint in Spain, where it already operates through its long-standing subsidiary, Babcock Wanson España, based in Bilbao. The addition of ACT enhances the Group’s geographic reach and service capacity across the Iberian Peninsula, allowing it to provide more comprehensive and responsive support to Spanish industrial customers.

Founded and developed by Alfredo Córdoba T., ACT has earned a strong reputation for technical excellence and reliability in the Spanish industrial boiler market. The company provides full-scope solutions for the design, installation, and maintenance of industrial boiler systems, including repair services, retrofits, and long-term maintenance contracts.

Having already transferred operational leadership to his two children, Alfredo Córdoba T. has ensured a smooth succession and continuity of the business. ACT will continue to be managed by the next generation of the Córdoba family, maintaining the company’s core values and customer-first approach under the Babcock Wanson Group umbrella.

“With ACT joining the Group, we are reinforcing our capabilities in Spain by integrating a company primarily dedicated to industrial boiler services and optimization, ” said Cyril Fournier-Montgieux, CEO of Babcock Wanson Group. “This acquisition strengthens our presence in Southern Spain and is fully aligned with our long-term vision: to support European manufacturers in their transition to more sustainable, energy-efficient thermal processes.“

“We are proud to continue our father’s legacy and excited to join forces with Babcock Wanson Group. This partnership will allow us to accelerate our development while staying true to the service quality and technical reliability that our customers expect,” said Alfredo Córdoba C. and María Ángeles Córdoba C..

The addition of ACT will enhance Babcock Wanson Group’s ability to deliver turnkey decarbonization solutions—including high-efficiency boilers, heat recovery systems, hybrid and electric technologies, and long-term service agreements—while deepening its local service model in Spain.

With direct operations now in more than 14 countries, Babcock Wanson Group continues to expand its network of industrial service hubs across Europe. Backed by Ambienta and Kartesia, the Group’s strategic combination of organic growth and targeted acquisitions positions it as a leader in sustainable heat solutions for European industry. “We are proud to support Babcock Wanson Group’s ongoing growth,” added Gwenaëlle Le Ho Daguzan, Partner at Ambienta. “The acquisition of ACT illustrates the strength of our shared vision—to create a European champion in industrial energy transition, rooted in strong local presence and operational excellence.”

Download the full press release

Following its most recent acquisition of Germany’s VKK Group in 2024, Babcock Wanson Group further expands its geographic scope in Europe by bolstering its presence in Denmark. As such, the acquisition of Chr. Møller, a Danish specialist in services for industrial boiler and thermal equipment, reinforces the Babcock Wanson’s standing in the Nordic region and perfectly aligns with its strategy to develop its services activities through targeted external growth.

Chr. Møller is a Danish company specialised in the maintenance and optimisation of industrial boiler and all associated services. With nearly five decades of history, the Company has built a strong reputation for technical excellence, reliability, and a long-standing track-record in optimizing the energy consumption of its customers across a broad range of industrial sectors — including food processing, district heating, pharmaceuticals, and chemicals. It is a full-scope service provider, including inspection, refurbishment, tailored preventive maintenance, emergency interventions, as well as rental thanks to a high-performance fleet of boilers ready to meet temporary needs. All these solutions are delivered by a highly skilled team of technicians with deep knowledge of thermal and pressure systems. Since 2000, the Company has been successfully managed by Kristian Jensen and Torben Bjørn Andersen, the two current shareholders who will both remain as Directors: “We are delighted to be building our company’s future within Babcock Wanson, which will be able to support our growth and enhance the decarbonization solutions we offer our industrial customers” announce Kristian and Torben.

Chr. Møller plays a critical role in ensuring operational continuity and energy efficiency for its clients throughout Denmark and the Nordic region. Renowned for its technical capabilities and customer fidelity, Chr. Møller brings to the Group a strong regional footprint and a trusted reputation among industrial customers in Northern Europe. The company’s know-how in boiler maintenance, piping installation, and thermal system optimisation complements Babcock Wanson’s integrated offering of energy efficiency and decarbonisation technologies. “This acquisition is fully aligned with our long-term vision: to support European manufacturers in their transition to more sustainable, energy-efficient thermal processes,” said Cyril Fournier-Montgieux, CEO of Babcock Wanson Group. “Chr. Møller’s expertise and local presence will enable us to better serve our Nordic customers by complementing our existing activities in Norway and Finland, thus further accelerating our deployment in Europe.”

The integration of Chr. Møller into Babcock Wanson will enhance the Group’s capacity to deliver turnkey decarbonisation solutions (including high-efficiency boilers, heat recovery systems, hybrid and electric solutions, and long-term service contracts) while reinforcing its local customer service model. With this acquisition, Babcock Wanson now directly operates in more than 14 countries and continues to grow its network of industrial service hubs across Europe, in line with its mission to provide reliable, low-carbon heat solutions to support the competitiveness and sustainability of the European industry.

This ambitious external growth programme, combined with strong organic growth in its historical markets, has enabled Babcock Wanson Group to significantly grow. All this is made possible by Babcock Wanson Group’s financial support, led by its main shareholder Ambienta, and its historical backer Kartesia. “This acquisition marks a step forward in the growth journey we are building together with the Babcock Wanson management team,” said Gwenaëlle Le Ho Daguzan, Partner at Ambienta. “We are fully aligned in our vision to create a pan-European leader in energy transition solutions for industry. The successful acquisition of Chr. Møller reflects the strength of our partnership and our shared ambition to pursue value-creating, strategic acquisitions across Europe. We are confident this is the first of many successes to come.”

Download the full press release

Kartesia, majority shareholder since 2021, and IRDI, a leading asset management company in the south-west of France, will continue to support the group alongside management to consolidate its position as European leader in industrial boiler systems and a key player in the decarbonisation of industrial activities.

Gwenaëlle Le Ho Daguzan, Private Equity Partner – Head of France at Ambienta, commented: “This investment represents a unique opportunity to drive industry decarbonization, a major challenge for all industrial players, which is fully in line with Ambienta’s commitment to environmental sustainability. We are very proud to partner with Kartesia and the management team to support Babcock Wanson in its next growth chapter focused on low-carbon industrial heating solutions”.

Julien Rigon, Partner – Head of France at Kartesia, added: “In partnership with the management team, we have successfully delivered an ambitious growth plan since our first investment in the Group in 2016 and renewed support in 2021, building an undisputed leader in low-carbon industrial heat solutions. We look forward to working with Ambienta, fully confident in the team’s high-value contribution to our common thesis and continuing to support Babcock Wanson in its objective of reducing industry’s carbon footprint across Europe and globally”.

Cyril Fournier-Montgieux, CEO of Babcock Wanson Group, commented: “We are very excited to start working with Ambienta and continue our partnership with Kartesia in this new phase of growth for the Group. After having successfully entered the electric boiler market, we are committed to strengthening our impact on the energy transition and being a leading one-stop-shop provider of sustainable industrial heating solutions. Ambienta’s approach is strongly aligned with this ambition, and we see them as the perfect partners for us”.

Getec and Babcock Wanson Group are pleased to announce that they have agreed to the sale of the VKK Group, a prominent German company renowned for its expertise in industrial boiler technology.

VKK Group, comprising VKK Standardkessel Köthen GmbH, VKK Standardkessel Service Köthen GmbH, VKK Standardkessel Verwaltung Köthen GmbH, Dampferzeuger-Rohrleitungsbau GmbH and PCE GmbH was originally acquired by Getec Group in 2018. Under Getec’s ownership, the boiler manufacturer, with physical presence in Kothen, Duisbourg and Lichtentanne, has undergone significant reorganization, restructuring, and strategic positioning over the past five years, positioning VKK Group as a leading and innovative player in the German industrial boiler market.

Coming from the still famous story of Standardkessel boilers, the group of companies nowadays known as VKK Group, is a specialist in the design, manufacturing and sales of industrial boilers for the energy, food, chemical and other diverse industries. VKK Group also offers to its customers a wide range of services including engineering, installation of turnkey projects, monitoring and maintenance of equipment. The company has developed an expertise in high power boilers that gives it a strong competitive advantage in the industrial boiler market in Germany.

“With the takeover by Babcock Wanson Group, VKK Group will benefit from a strong and highly respected European specialist to pursue its growth trajectory” states Volker Schulz, chairman of the advisory board. “VKK Group can look ahead with optimism and confidence to its next step of development.”

Babcock Wanson Group is pleased to make this strategic move and lay the foundation for its expansion into Germany, being one of the largest market for industrial boilers, leveraging the production site in Kothen and the service site in Duisbourg.

“We are thrilled to welcome VKK Group to our journey of growth,” remarks Cyril Fournier-Montgieux, Chairman of Babcock Wanson Group. “VKK’s stellar reputation and expertise in industrial boilers make it the perfect gateway for our entry into Germany, enabling us to continue supporting our industrial clients in their energy transition and decarbonization efforts.”

The Babcock Wanson Group intends to leverage the expertise of the VKK Group’s management and existing teams to bring to local customers the most energy and cost efficient solutions for their boiler room needs. This acquisition thereof represents a mutually beneficial arrangement, facilitating the integration of VKK’s expertise in high power boilers across all of Babcock Wanson’s European subsidiaries while harnessing its production capabilities. In parallel, VKK will benefit from Babcock Wanson Group’s advanced portfolio of technologies, including Parat’s high-voltage electric boilers, thereby contributing to the decarbonization efforts within the industrial sector.

Supported by its main shareholder, Kartesia, Babcock Wanson Group remains committed to expansion and aims to cement its position as the European leader in decarbonization solutions for industrial processes.

The Global Compact is a call to companies around the world to align their practices and strategies with ten universal principles, derived from the fundamental texts of the United Nations, in the areas of human rights, labour law, the environment and anti-corruption. By joining the Global Compact, we commit to respecting these principles and contributing to the achievement of the 17 Sustainable Development Goals (SDGs), which aim to respond to the most pressing social and environmental challenges of our time.

This is in line with our raison d’être, which is based on our commitment to help make the world a better place by being a powerful force for energy transition in industry.

By joining the Global Compact, we become part of a network of over 19,000 members, based in 164 countries, who share the same vision of a more sustainable and inclusive world.

This network will provide us with a framework for exchange and learning, as well as tools and resources to strengthen our CSR performance and report on our progress. The Babcock Wanson Group, a major European player in the energy transition and supplier of equipment and solutions for industrial boiler rooms, is delighted to be taking this next step in our commitment to responsibility.

With the support of its majority shareholder Kartesia, Babcock Wanson Group (“Babcock Wanson” or “the Group”) reaffirms its commitment to becoming the pan-European leader in solutions for the energy transition of Europe’s manufacturing industry. The integration of Parat and PBS Power Equipment at the end of the year mean the Group has made three acquisitions in 2022 alone, following the acquisition of Donau Carbon technologies in October.

Download the full press release here

After the announcement last October of the acquisition of Donau Carbon Technologies, Babcock Wanson welcomes Norwegian company Parat, world leader in high voltage boilers and PBS Power Equipment, a key player in Central Europe for industrial boilers’ solutions, which have strengthened the Group’s position in the European industrial sector.

Parat is a long-standing player in industrial and marine boilers and more specifically in the electric segment (electrode technology). Based in Flekkefjord (Norway) since 1842, Parat develops, manufactures and distributes electric boilers primarily in Europe but also across various regions in the world, thus assisting industrial players with their decarbonisation strategies. This family-owned company has established its leadership in high-voltage boilers and has experienced strong growth over the past few years. Parat‘s growth is notably linked to the solutions it can offer for electrical grid regulations and the decarbonisation of industrial processes like food processing, pharmaceuticals, chemicals and paper manufacturing. Electrode boilers enable electrical capacities to be converted into thermal energy (hot water or high-pressure steam) with unmatched reliability and responsiveness. Parat employs about 100 people, all based in Flekkefjord and with extensive experience in the sector.

Yngve Halvorsen, CEO of Parat and former majority shareholder, says: “We were looking for a sustainable solution to support our strong growth and confirm our position as world leader in this market. The project proposed by Babcock Wanson and its majority shareholder immediately seemed coherent to us as not only do they provide significant capacities to expand our operations further, but we also share the same values.”

PBS Power Equipment (“PBS”) is a Czech company based in Trebic recognized for its high-quality industrial burners and boilers. PBS is a former subsidiary of PBS INDUSTRY, itself majorly owned by Czech-based private equity firm Jet Investment. It provides customised energy solutions to help manufacturers optimise their energy consumption and limit their environmental impact. The company has operations across the Eastern Europe and has strong ties with blue chip customers, addressing their entire scope of requirements in this market.

Karel Pleha, director at PBS, comments: “Joining Babcock Wanson Group allows us to join a highly relevant organization, active in the same markets as ours, providing synergies for both businesses. We will be able to strengthen our product and service offering to our customers and share knowledge and skills across the newly-formed organisation to increase our market share.”

These two acquisitions complete Babcock Wanson’s 2022 external growth programme, which already welcomed Donau Carbon Technology, a leading supplier of environmental solutions for VOC destruction and solvent recovery in October 2022.

Cyril Fournier-Montgieux, CEO of the Babcock Wanson Group comments: “We are delighted to integrate these three companies within our group, all of which have different profiles and geographic reach but are in line with our overall ambition. They allow us to strengthen further our market-leading position in Europe while also aiding our target to become the leader in solutions for the decarbonisation of the industrial sector. Parat offers us a local presence in Northern Europe but above all the leadership in the industrial electrification initiative. In parallel, PBS brings us closer to our customers in Central Europe but also strengthens our offer in high efficiency combustion solutions.”

This ambitious external growth programme, combined with strong organic growth in its historical markets, has enabled the Babcock Wanson Group to make a great leap forward. All this is made possible by the partnership between Babcock Wanson and its main shareholder Kartesia, which supports the group’s growth.

Julien Rigon, Director at 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. 2022 has allowed us to accelerate this ambition and add extra capabilities to the group, which represents a major milestone in its history. We are extremely proud of the work that has been done so far with Babcock Wanson to create a leader in Europe’s energy transition and look forward to the next period of growth for the business with Kartesia’s operational and financial support.”

With the renewed support of its majority shareholder Kartesia, Babcock Wanson Group firmly reaffirms its commitment to be the pan-European leader in energy transition solutions for manufacturing industries by integrating Parat into the group.

Download the full press release here

Parat is a long-standing player in industrial and marine boilers and more specifically in the electric segment (electrode technology). Based in Flekkefjord (Norway) since 1842, Parat develops, manufactures and distributes electric boilers primarily in Europe but also across various regions in the world, thus accompanying industrial players towards their decarbonisation plan.

This family-owned company has established its leadership in high-voltage boilers and has experienced a strong development over the past few years. Parat‘s growth is notably linked to the solutions it can offer for the electrical grid regulation and the decarbonisation of industrial processes (food processing, pharmaceuticals, chemicals, paper manufacturing, etc.). Electrode boilers enable electrical capacities to be converted into thermal energy (hot water or high-pressure steam) with unmatched reliability and responsiveness. Parat employs about 100 people, all based in Flekkefjord, who lead the company’s expertise.

Babcock Wanson Group, will make its resources available to help Parat‘s teams deliver the high demand for these products.

Yngve Halvorsen, CEO of Parat and former majority shareholder, says: “We were looking for a sustainable solution to support our strong growth and confirm our position as world leader in this market. The project proposed by Babcock Wanson and its majority shareholder immediately seemed coherent to us as not only do they provide significant capacities to expand our operations further, but we also share the same values.”

Cyril Fournier-Montgieux, CEO of Babcock Wanson Group comments: “We are very happy to welcome the entire Parat team into the group. The company is perfectly in line with our strategy: to become a leading player in decarbonization solutions for industry and to develop our service activities by strengthening our presence across Europe with all our industrial customers. Parat allows us to establish ourselves locally in Northern Europe where we were not yet present, but above all to take the lead in the industry electrification initiative.”

After the announcement of an acquisition for its environmental division last October in Italy (DCT), it is now Parat, a key player in the field of electrode boilers, that has strengthened the Babcock Wanson Group. This acquisition is made possible thanks to the strong partnership between Babcock Wanson Group and its main shareholder Kartesia, which supports the group’s growth. Julien Rigon, Director at Kartesia: “Together with Babcock Wanson Group Management team, we view this acquisition as a highly strategic one for Babcock Wanson Group. It represents a major milestone in the history of the group, and we are proud to have made it possible with tremendous perspectives ahead across the entire company.”

Standard Fasel is one of the market leaders in the Netherlands and experienced strong growth in sales and profitability under the ownership of hands‐on investor Nimbus. Under the drive of Kartesia, its new majority shareholder, Babcock Wanson continues its external growth strategy by welcoming Standard Fasel into the group.

Standard Fasel is a Dutch group with a strong reputation in the field of industrial boilers. A specialist in the design, manufacture and sales of industrial boilers and burners for the energy, food, chemical and manufacturing industries, Standard Fasel also offers its customers a wide range of services including engineering, installation of turnkey projects, monitoring and maintenance of equipment. The company has developed an expertise in high power boilers that gives it a strong competitive advantage in the industrial boiler market in the Netherlands and internationally.
Nimbus became the main shareholder of Standard Fasel in 2018, giving a new impetus to the development of services within Standard Fasel.
Alexander de Haas, partner at Nimbus, says: Over the past three years, Nimbus, together with the management team, has helped Standard Fasel to build on its strengths. This meant focusing on streamlining the operation and a more dedicated focus on its service activities. We believe Babcock Wanson is the right partner to allow the company, the management team and its employees, to continue to push its strategic agenda and further benefit from the energy transition.

Ger Roovers, the current CEO, joined the company in 2011 and will continue to lead the company with the current management team. After a good natured and successful partnership with Nimbus, we are very excited to be joining the Babcock Wanson Group as we share a common expertise and know‐how focused on solutions for decarbonising industry. says Ger.
With the acquisition of Standard Fasel, the Babcock Wanson Group consolidates its presence in the Benelux and shows its ambition to create a European leader in industrial boilers.

Cyril Fournier‐Montgieux, Chairman of the Babcock Wanson Group, says: Babcock Wanson and Standard Fasel share a common philosophy focused on the energy transition and the optimisation of the energy consumption of our industrial customers. The complementary nature of the products and services offered by the two companies will enable commercial and industrial synergies capable of strengthening our position in process industries. Babcock‐Wanson is already present in this geographical area through its subsidiaries Maes (Belgium) and Reputabel (Netherlands) that will complete the structure of Standard Fasel, with complementary teams and competences.

This is Babcock Wanson’s fifth acquisition since 2016 and the second since Kartesia became the majority shareholder in July 2021.
Julien Rigon, Director at Kartesia, adds: We are very pleased to complete this acquisition. Kartesia is committed to supporting Babcock Wanson in consolidating the industrial boiler market to become a pan‐European leader and to be able to push forward innovative and environmentally friendly technologies.