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August Debouzy advised on the acquisition of Geismar, a key player in the railway industry, by a consortium led by Sandton Capital Partners, Verdoso, and MegaRock
Communiqué Restructuring Operations | 09/05/25 | 2 min. | Laurent Cotret Mehdi Abdelouahab Jennifer Hinge Pauline Desplas Virginie Devos Joël Fernandez Julien Wagmann Maxime Legourd Xavier Rohmer
Industry - Industrial projects Transportation
August Debouzy acted as legal counsel to the companies of Geismar, a French industrial group with international reach, specializing in the design and manufacture of equipment for the construction, maintenance, and modernization of railway networks. This acquisition, overseen by the Economic Activities Court of Nanterre, marks the culmination of several years of strategic transformation following economic and financial challenges and difficulties.
Geismar implemented a “pre-pack sale” process, at the end of which the Economic Activities Court of Nanterre, by judgments dated 7 May 2025, approved the sale plans involving the group’s assets and operations in favor of a consortium of investors led by the U.S. investment fund Sandton Capital Partners, alongside Verdoso Group, the Chinese industrial group Megarock, and Geismar’s management team.
This acquisition plan led by the consortium ensured the retention of over 80% of jobs in France and abroad – i.e., 641 jobs worldwide, including 344 in France. The company will now operate under the name GRITS (Geismar Rail Industry Technologies & Services).
Since the beginning of the process, substantial efforts have been made to streamline the product portfolio, structure ongoing projects, and strengthen commercial partnerships.
This reorganization process has also been supported by continued dialogue with banking partners, who have confirmed their support for the company’s activities and long-term viability.
The August Debouzy team advising Geismar included:
- Laurent Cotret (partner) and Mehdi Abdelouahab (associate), for restructuring matters,
- Jennifer Hinge (partner) and Pauline Desplas (senior associate), for financing aspects,
- Virginie Devos (partner) and Joël Fernandez (associate), for employment law issues,
- Julien Wagmann (partner) and Maxime Legourd (senior associate), for corporate matters,
- Xavier Rohmer (partner), for tax matters.
The court-appointed administrators were SCP Abitbol & Rousselet, represented by Maître Joanna Rousselet, and Selarl AJRS, represented by Maître Thibaut Martinat. The court-appointed receivers were SCP B.T.S.G, represented by Maître Marc Sénéchal, and SAS Alliance, represented by Maître Gurvan Ollu.