Sade buys €5M water-network firm Font TP Martinaud to densify west of Lyon
What's the deal? SadeDealroom has a profile for this one. Try Dealroom →, a subsidiary of France's NGE groupDealroom has a profile for this one. Try Dealroom →, is acquiring Font TP Martinaud, a family-owned underground networks company based in Larajasse in the Rhône. The target has 31 employees and €5 million in revenue, and keeps its site and operational teams. Terms were not disclosed.
Who are they? Founded in 1920, Font TP Martinaud builds wet and dry utility networks — from drinking water to telecoms — and handles sanitation, wastewater plants, roadworks and earthworks across the Rhône, Loire and Isère. Public contracts make up 65% of its business.
What's the endgame? Font TP Martinaud joins Sade's Centre-East division and complements its Montagny branch in the Loire, strengthening Sade's presence in the Lyon–Roanne–Saint-Étienne triangle. Sade, established in 1918, designs, builds and maintains water and energy networks in France and abroad.
The logic is densification. In water-network work, geographical proximity lets operators serve dispersed sites and maintain local infrastructure.
Why it fits: Font TP Martinaud brings knowledge of local markets; in return it draws on the technical and engineering resources of Sade and NGE. "The arrival of Font TP Martinaud within SADE is a great opportunity to strengthen our presence in the western Lyon area," said Sylvain Camilla, Sade's deputy managing director for France. The focus is on synergies with existing branches rather than immediate reorganisation.
The signal: The deal extends NGE's external growth strategy in the water cycle. The group posted €5 billion in revenue in 2025 and employs 25,000 people across around 20 countries, with 72% of capital held by its founders, management and employees and 28% by investment fund Montefiore.
Read more: auris-finance.fr
Image credit: USDAgov
