Geismar becomes Geismar Rail Industry Technologies & Services (GRITS) and opens a new chapter in its century-old history

The consortium led by Sandton Capital Partners, Verdoso and MegaRock has been selected to acquire the Geismar group. This decision marks the beginning of a new era for our century-old company with a global reputation, which will now become Geismar Rail Industry Technologies & Services (GRITS).

A strong group to ensure Geismar’s long-term future

This strategic alliance brings together complementary players whose collective expertise is a major asset for Geismar’s rebirth and future development.
Sandton Capital Partners, an independent North American investment company founded in 2009, specialises in supporting SMEs and mid-cap companies in special situations. It has already invested more than €1.8 billion since its creation, including approximately €90 million in France.
Verdoso, an industrial investment company founded in 1997, brings its experience in supporting companies undergoing transformation, having already taken control of more than 30 companies.
The consortium is also strengthened by the presence of MegaRock Group, Geismar’s long-standing partner based in China. MegaRock’s participation will consolidate the group’s export capacity, particularly in Asian markets.
The active involvement of Geismar’s current management in this takeover is a guarantee of continuity and demonstrates the confidence of the management teams in this forward-looking project. The takeover bid provides for a substantial initial investment of €20 million, without recourse to debt.

An ambitious and coherent industrial project

The industrial project led by this consortium stands out for its long-term strategic vision and its ambition to strengthen Geismar’s position in the French railway ecosystem while consolidating and developing its international presence. Patrick Jeantet, former CEO of SNCF Réseau and President of the French Railway Industry Federation, will join the Supervisory Board, where he will contribute his industrial expertise and strategic vision of the sector.

The entry into the capital of TSO, the railway subsidiary of the NGE group, via Orme Invest, and that of NOVIUM, a specialist in railway maintenance equipment, further strengthens this integration into the national industrial fabric and will promote the development of fruitful industrial synergies. This renewed governance structure aims to create a French champion in railway equipment, installation and maintenance services capable of competing with major global players.

Preserving jobs and activities: a priority

As part of this takeover, the group is committed to maintaining 641 jobs, thereby preserving technical expertise and international presence. In France, the takeover involves 344 of 420 contracts, spread across the Colmar/Head Office (181 out of 235), Geismar Alpes (143 out of 143) and Geismar Provence (20 out of 29) sites, while 297 of the 310 jobs will be retained within the foreign subsidiaries.
All existing customer contracts will be carried over without exception, demonstrating the group’s commitment to maintaining the trust of Geismar’s long-standing customers and its reputation for excellence and reliability in the global market.

A promising future for a major player in the rail industry

With this takeover, Geismar, backed by its century of expertise and global reputation, now has the resources it needs to continue its development and innovation. The aim is to strengthen its leading position in a rapidly expanding sector driven by the challenges of ecological transition and sustainable mobility. The order book, which has developed favourably in recent months, offers excellent commercial visibility in the medium term and demonstrates customers’ renewed confidence in Geismar’s ability to meet their needs for innovative and high-performance railway services and equipment.

Nicolas Yatzimirsky, President, and Rudy Hayat, Commercial Director, will remain at the helm of the company.
Nicolas Yatzimirsky declares : «This decision marks a turning point for Geismar and is excellent news for all our employees, customers and partners. The support provided by Verdoso, Sandton Capital Partners and MegaRock gives us the means to achieve our ambitions. We would like to warmly thank our teams for their unfailing commitment during this challenging period, as well as our customers and suppliers for their loyalty and patience. Driven by the values of excellence, proximity and innovation that have built our reputation, we look forward to writing a new chapter in Geismar’s century-long history with you».

Founded in 1924 under the name Geismar, Geismar Rail Industry Technologies & Services is an iconic player in the French railway industry, specialising in equipment for the installation, maintenance and inspection of railway tracks. With an international presence, it is involved in some of the world’s largest projects (Grand Paris Express, HS2, ONxpress) and has a long history of working with major customers such as SNCF and Deutsche Bahn. With a turnover of €120 million, 75% of which is generated internationally, Geismar Rail Technologies & Services (GRITS) has embodied French excellence in the railway sector for nearly a century.