On Wednesday, May 7, 2025, the consortium led by Sandton Capital Partners, Verdoso, and MegaRock announced the acquisition of the Geismar Group, a flagship company in the French railway sector, specializing in the design and manufacture of equipment for track installation, maintenance, and inspection. This marks the beginning of a new era for this century-old company with a global reputation, now renamed Geismar Rail Industry Technologies & Services (GRITS).

A Strong Consortium to Secure Geismar’s Future
This strategic alliance brings together complementary players whose combined expertise is a major asset for Geismar’s rebirth and future development:
• Sandton Capital Partners, an independent North American investment firm founded in 2009, specializes in supporting SMEs and mid-cap companies in special situations. It has invested over €1.8 billion since its inception, including approximately €90 million in France since 2016 in iconic industrial companies such as Adveo, Axyntis, and Metalliance.
• Verdoso, an industrial investment firm founded in 1997 and led by Franck Ullmann, brings its experience in supporting transforming businesses, having taken control of over 30 companies. Verdoso currently generates a combined revenue of €600 million through its nine significant holdings in French SMEs and mid-caps.
• MegaRock Group, a historical Geismar partner based in China, strengthens the consortium with its presence. MegaRock specializes in R&D for high-speed rail technologies, and its participation will bolster the group’s export capabilities, particularly in Asian markets where Geismar seeks to enhance its presence amid strong competition.
The active involvement of Geismar’s current management in this takeover ensures continuity and reflects the leadership team’s confidence in this forward-looking project. The acquisition plan includes a substantial initial investment of €20 million, without resorting to debt, demonstrating the investors’ confidence in Geismar’s growth potential. This funding will notably enable a rapid restart of production and investment in new product development.

An Ambitious and Coherent Industrial Project
The industrial strategy led by the consortium stands out for its long-term vision and its ambition to strengthen Geismar’s presence in the French railway ecosystem while expanding and consolidating its international reach. This ambition is exemplified by the appointment of renowned railway industry figures to the supervisory board, including Patrick Jeantet, former CEO of SNCF Réseau and President of the French Railway Industries Federation, who will contribute his industrial expertise and strategic vision.
The entry of TSO—the railway subsidiary of the NGE Group—through Orme Invest, and of NOVIUM, a specialist in railway maintenance equipment, further reinforces this integration into the national industrial fabric and promotes the development of fruitful industrial synergies.
This renewed governance will not only effectively steer Geismar’s redeployment but also lay the groundwork for consolidating the French “railway installation and maintenance” sector, aiming to create a national champion capable of competing with major global players.

Safeguarding Jobs and Activities
As part of this acquisition, the consortium is committed to maintaining 641 jobs, thereby preserving expertise and international presence. In France, the takeover includes 344 of 420 positions, distributed across:
• Colmar / Headquarters: 181 out of 235
• Geismar Alpes: 143 out of 143
• Geismar Provence: 20 out of 29
• In foreign subsidiaries, 297 of 310 jobs will be retained.
All existing customer contracts are being transferred without exception, underscoring the consortium’s intent to maintain the trust of Geismar’s long-standing clients and uphold its global reputation for excellence and reliability. Aware of the human impact of this restructuring, the consortium has designed a robust social plan that includes priority for internal redeployments and a two-year rehiring priority, along with the retention of all existing employee rights. Current employee representative bodies will remain in place until new elections are held, and all existing agreements will stay in force for at least the next fifteen months, ensuring a smooth transition and continuity in the company’s social dialogue traditions.

A Promising Future for a Key Railway Industry Player
With this acquisition, Geismar, drawing on its century-old expertise and global reputation, now has the resources to continue innovating and growing. The objective is to reinforce its leadership position in a rapidly expanding sector, driven by ecological transition and sustainable mobility challenges. The company’s order book has improved significantly in recent months, offering strong mid-term commercial visibility and reaffirming clients’ confidence in Geismar’s ability to meet their needs for innovative and high-performance railway services and equipment.
Geismar’s executive leadership, in close collaboration with its new shareholders, has already developed a clear roadmap to enhance profitability while maintaining its innovation capacity to stay at the forefront of the market. Nicolas Yatzimirsky, President, and Rudy Hayat, Sales Director, will continue to lead the company.

Nicolas Yatzimirsky stated: “This decision marks a turning point for Geismar and is excellent news for all our employees, clients, and partners. The support of Verdoso, Sandton Capital Partners, and MegaRock provides us with the means to achieve our ambitions and further strengthen our clients’ trust. Our immediate priority is to ensure a smooth transition and guarantee the continuity of our global services. We sincerely thank our teams for their unwavering commitment during this challenging time, as well as our clients and suppliers for their loyalty and patience. With the values of excellence, proximity, and innovation that built our reputation, we will write a new chapter in Geismar’s century-long history—together.”

Emmanuel Atlan of Sandton Capital Partners commented: “We are proud to continue supporting French industry and to have now surpassed €100 million invested in France since 2016. We also thank the Nanterre Commercial Court for the trust it has placed in our project, which aims to restore the company’s prestige and turn it into a true flagship of the French railway industry.”