KPMG advises Babcock Wanson in PBS Power Equipment acquisition

French group Babcock Wanson is taking over PBS Power Equipment in Třebíčin in the Vysočina Region of the Czech Republic. PBS Power Equipment manufactures industrial burners and boilers and was previously part of the 2JCP group controlled by the Jet Investment fund. KPMG Czech Republic, awarded Advisor of the Year by the Czech Venture Capital Association, served as the buyer's exclusive financial advisor.

"As part of its growth strategy, significant group Babcock Wanson has decided to go down the acquisition route. In recent years, it has acquired several companies in various European countries. Fortunately, the Czech Republic was not left out of its interest, and with our help, it took over PBS Power Equipment. We were able to close the deal at the end of 2022, and it was completed in January 2023," says Petr Slabý, manager at KPMG specialising in mergers and acquisitions.

"The transaction will make it possible to take advantage of the synergies between the two companies. PBS Power Equipment expects to strengthen its product and service offering and increase its market share. With the acquisition, Babcock Wanson will enhance its offering of efficient combustion solutions and will be closer to customers in Central and Eastern Europe, where PBS Power Equipment is active," he adds.

KPMG's M&A teams from Paris and Prague, led by Stéphane Souchet and Igor Mesensky, jointly participated in the transaction. They were also assisted by the Prague team of KPMG Legal.

KPMG has long been the most successful M&A advisor on the Czech market. In 2022, KPMG was the lead financial advisor on eight transactions.

Also last year, Mesensky's team received an award from the Czech and Slovak Venture Capital Association. Its members selected KPMG as the winner of the competition in the advisor, bank, insurance company category. In addition, KPMG scored in the private equity transaction of the year category in Slovakia.