Sparring Capital has sold NovaKamp to a pool of financial investors led by Siparex

NovaKamp

Headquartered in France, NovaKamp is a French provider of mission-critical utilities for off-grid environments. The company designs, integrates, deploys and operates power generation, electrical distribution, water treatment and other utility systems, primarily for military camps, defense operations and critical infrastructures. With decades of experience alongside armed forces, NovaKamp is recognized for its robust engineering, rapid projection capabilities and high operational reliability. Building on this strong defense DNA, the group is also expanding into civil, industrial and infrastructure markets, leveraging hybrid, low-carbon and resource-efficient technologies to support the energy transition while ensuring continuity of operations in the most challenging conditions.

The Deal

Lincoln International has advised Sparring Capital and Management on this operation, welcoming Siparex as new majority shareholder via its Midcap fund. Siparex is joined by a consortium including GSO Capital, Socadif, BNP Paribas Développement and Bpifrance, while management has reinvested alongside the new sponsors. The transaction is intended to support NovaKamp’s strategy of leveraging its defense-grade expertise to accelerate diversification into the civil market, particularly in autonomous, energy-efficient and resource-critical solutions.

Our Perspective

Charles de Fels, Managing Director in Lincoln International’s Paris office, commented, “Over recent years, NovaKamp has significantly expanded its capabilities, establishing itself as a reference player in mission-critical energy and water solutions. This transaction marks a key milestone in that trajectory. With strengthened resources, NovaKamp is well positioned to accelerate its expansion into civil and industrial markets, scale low-carbon solutions and further consolidate its position as a long-term European leader in the military field. The business sits at the intersection of two powerful structural trends—rising military spending and the transition to sustainable energy—underpinning a highly attractive long-term outlook.”

Sparring Capital

Sparring Capital Partners is a Vienna-based investment firm founded by a group of entrepreneurs to provide capital and expertise to companies with strong growth prospects. Sparring backs visionary founders commercializing breakthrough technologies that contribute to a stronger, more self-reliant Europe.

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