Ambienta announces the sale of its majority stake in Cap Vert

• Ambienta has reached an agreement to sell Cap Vert to Gimv.
• Since Ambienta’s investment, Cap Vert has tripled in size, underpinned by strong organic growth and a disciplined acquisition strategy.
• The Group was transformed from a fragmented and decentralised organisation into a fully integrated national leader supported by a strengthened professional management team under strong CEO leadership.

Milan/London/Paris/Munich/Stockholm, 25 June 2026 - Ambienta SGR S.p.A. ("Ambienta"), one of Europe’s leading asset managers entirely focused on environmental sustainability, is pleased to announce the signing of an agreement for the sale of Cap Vert (“The Group”), a leading French provider of critical environmental services and a portfolio company of the Ambienta Mid Cap Fund III. Ambienta will sell its majority stake in the business to Gimv, a tier-one private investment firm listed on Euronext Brussels, with Cap Vert CEO Eric Girot retaining a significant stake alongside the management team, underscoring their strong alignment and continued commitment to the Group’s future growth. The transaction is expected to close in the second half of 2026, subject to customary approvals.

Founded in 1984 and headquartered near Paris, Cap Vert is a leading multi-specialist provider of critical services for the transformation and maintenance of green spaces and ecological infrastructures. The Group operates across four complementary divisions: urban pruning, creation and maintenance of green urban areas, watering and fountain works, and infrastructure pruning, all supported by a transversal expertise in ecological engineering. Serving mainly B2B clients and public authorities under multi-year contracts, Cap Vert is recognised as a leader in its sector.

Since Ambienta acquired Cap Vert in 2021 through its Mid Cap Fund III, the Group has undergone a profound transformation, both operationally and strategically. By leveraging its local market expertise and proven track record in scaling environmental champions, Ambienta tripled the Group’s revenues and EBITDA during the holding period through a combination of organic growth and a disciplined M&A strategy with 18 targeted acquisitions serving as a key tool to accelerate an already robust growth trajectory. Cap Vert today ranks among the top five players in the French green spaces market and is the undisputed leader in profitability.

A central pillar of this transformation has been the evolution of Cap Vert from a fragmented federation of entities into an integrated, cohesive group, operating under common processes, systems and strategic direction. This was reinforced by the appointment of a professionalised senior leadership team, led by CEO Eric Girot, which strengthened governance, enhanced execution capabilities and instilled a unified performance culture across the organisation.

Alongside its structural transformation, the Group expanded its scope and capabilities. It expanded into new specialty and critical market segments offering high margins and strong growth dynamics, notably infrastructure pruning, and continued to develop its presence in water management. At the same time, Cap Vert launched new transversal solutions across the Group linked to biodiversity and ecological engineering, further strengthening its positioning at the forefront of environmental services innovation. These initiatives complemented the Group’s core activities and reinforced its value proposition to clients facing increasing environmental and regulatory challenges.

With Cap Vert, Ambienta identified early on an environmental champion actively addressing critical urban sustainability needs, including carbon capture, biodiversity preservation, and climate resilience. By delivering services that are increasingly critical to urban areas, which account for the majority of CO₂ emissions and continue to drive population growth across Europe, the Group has combined strong, consistent financial performance with meaningful environmental impact, contributing to the capture of c. 62,000 tons of greenhouse gas emissions (CO₂e), the removal of 380 tons of pollutants, and the preservation of around 640 hectares of biodiversity annually.

Gwenaëlle Le Ho-Daguzan, Partner at Ambienta, said: “Cap Vert exemplifies Ambienta’s strategy of partnering with environmental champions and supporting their transformation into scaled, high-performing platforms. Together with the management team, we have successfully transformed the business into a leading national platform - tripling revenues and building a fully integrated organisation with enhanced capabilities through both organic initiatives and a disciplined acquisition strategy.”

Eric Girot, Chief Executive Officer of Cap Vert, added: “We are grateful to Ambienta for their strong partnership and continuous support, notably to support the buy-and-build strategy. Over the past years, we have transformed Cap Vert into a more integrated, diversified and professional organisation, strengthening our leading market position and expanding our services. We look forward to building on this solid foundation in the next phase of growth.”

Ambienta was advised by Amala Partners (M&A advisor), Alvarez & Marsal (financial due diligence), Oliver Wyman (commercial due diligence), Weil, Gotshal & Manges (corporate legal), EY (legal due diligence), Ansa (ESG due diligence), Marsh (insurance due diligence), Coruscans, and Jeausserand Audouard (management advisor).

About Ambienta

Ambienta is a European investment manager, founded in 2007, pioneering sustainable investing in environmental champions across private equity, public markets, and private credit. With offices in Milan, London, Paris, Munich and Stockholm Ambienta manages over €4bn in assets and is backed by a global and growing investor base. The firm invests in companies driven by environmental megatrends and whose products or services improve Resource Efficiency or Pollution Control. Its science-driven approach identifies environmental champions of the real economy – businesses that deliver strong financial returns while generating measurable positive environmental impact.

An industry pioneer, Ambienta was one of the first UN PRI signatories in 2012 and attained B-Corp status in 2019. In 2020, Ambienta became IIGCC member and in 2023 committed to the Science-Based Targets initiative (SBTi). www.ambientasgr.com

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