On May 22nd, 2025, Ardian announced it will acquire a majority stake in MasterGrid, aiming to support its growth strategy in the thriving electricity infrastructure sector.

Information on the Target

MasterGrid is a premier provider of maintenance services and a manufacturer of equipment essential for critical electrical infrastructure, particularly in the specialized high-voltage segment. The company is headquartered in Grenoble and has a rich history as a former business unit of Siemens, which divested it to Andera Partners in 2019. Since its independence, MasterGrid has broadened its portfolio beyond the manufacturing and maintenance of the Merlin Gerin installed base, expanding its offering and presence into 11 new countries through both organic growth and strategic acquisitions, including seven since 2020.

Today, MasterGrid operates in three core segments: proprietary services and equipment, which encompasses manufacturing, spare parts, and maintenance; services for third-party equipment; and engineering and solutions. The company serves a diverse clientele, including power generation firms, transmission and distribution system operators, and private industrial connections.

Industry Overview in France

The electricity infrastructure industry in France is currently undergoing a transformative phase, driven by the need for sustainable energy solutions, the maintenance and upgrade of aging infrastructure, and rising electricity demands. F