- Bowmark Capital acquires the construction cost assessment platform Building Cost Information Service (BCIS).
- Apave acquires the industrial inspection company GEI Group (Goodwill Engineering & Inspection).
- The integrated OSS and BSS platform for telecommunications companies gaiia raises $40 million.
- Waterland Private Equity acquires the manufacturer of door systems for public transport vehicles BODE.
BOWMARK CAPITAL
Bowmark Capital acquires the construction cost assessment platform Building Cost Information Service (BCIS)
Bowmark Capital announces its investment in Building Cost Information Service (BCIS) (£10.2 million of revenue in 2025, London / ENG), a platform that provides benchmarking and cost evaluation services for players in the construction, real estate, and insurance sectors. The operation allows Lloyds Development Capital (LDC), former investor of BCIS, to sell its stake after supporting the company’s transformation into an independent entity since 2022. With Bowmark’s support, BCIS plans to accelerate its investments in data, artificial intelligence, and analytical capabilities to enhance its innovation and expand its offerings into new markets (Bowmark Capital, press release)
PAI PARTNERS
Apave acquires the industrial inspection company GEI Group (Goodwill Engineering & Inspection)
Present in the portfolio of PAI Partners, Apave (c. €1.9 billion of revenue in 2025, Île-de-France / FRA), a company that offers various service solutions to help businesses improve the safety and performance of their equipment, production units, buildings, and environments, acquires a majority stake in GEI Group (Goodwill Engineering & Inspection) (Central Region / SGP), a company specialized in industrial inspection services and non-destructive testing (NDT), including ultrasonic testing, radiography, eddy current testing, and advanced inspection techniques, serving the energy, petrochemical, maritime, and heavy industry sectors. This operation allows Apave to accelerate its development in high-growth Asian markets and consolidate its technical risk management offering internationally (Apave, press release)
JMI EQUITY
The integrated OSS and BSS platform for telecommunications companies gaiia raises $40 million
gaiia (Quebec / CAN), integrated OSS and BSS software platform for Internet services providers and telecommunications companies that automates operations, simplifies billing processes, and facilitates Internet service management through AI-driven workflows and customizable tools, raises $40 million in a Series B funding round led by JMI Equity, with participation from Inovia Capital. This funding round, which brings the company’s total financing to $66 million, allows the founding team to remain in control while accelerating the development of autonomous AI agents and the commercial expansion of the platform (JMI Equity, press release)
WATERLAND PRIVATE EQUITY
Waterland Private Equity acquires the manufacturer of door systems for public transport vehicles BODE
Waterland Private Equity announces the acquisition of a majority stake in BODE (Hesse / DEU), a company that manufactures modular door and access systems for rail and road vehicles, offering customized solutions from proven components and focusing on reliability, robustness, and advanced digital connectivity to optimize the interface between vehicles and passengers. The acquisition was made from Schaltbau (€508 million of revenue in 2023, Bavaria / DEU), a company owned by The Carlyle Group that develops and manufactures innovative electromechanical components for the rail sector and industry. The management team of BODE reinvests alongside Waterland in this operation, which will allow the company to accelerate its international expansion, strengthen its innovation capabilities, and pursue an external growth strategy to consolidate its position in the global market for access systems for public transport (Waterland Private Equity, press release)
