Houlihan Lokey Advises Veolia

Houlihan Lokey is pleased to announce that Veolia has sold Vivaldi, comprising its subsidiaries STPI, STLI, and Vestalia, a recognised French player in soft facilities management for industrial clients, to Groupe Challancin.

Founded in 1853, Veolia is a global leader in environmental services, specialising in water, waste, and energy management solutions. Operating in more than 50 countries with over 200,000 employees, the group supports municipalities and industrial clients in improving resource efficiency and accelerating ecological transformation. Leveraging its integrated expertise across water treatment, waste recovery, and energy optimisation, Veolia delivers essential services to a broad range of resilient sectors while placing sustainability, circular economy principles, and innovation at the core of its growth strategy.

Vivaldi is a French recognised player specialising in tailor-made soft facilities management for industrial environments. With more than 860 employees and a widespread national footprint across 56 sites, in FY 2024, the group generated c. €50 million in revenue and achieved a strong 16% operational margin. Leveraging its extensive expertise, Vivaldi has built a comprehensive offering spanning industrial cleaning, industrial logistics, and waste collection. The company provides essential, highly recurring services to blue-chip clients across resilient and demanding sectors, notably automotive and defence, fostering long-standing partnerships. Supported by a strong human-centric culture and embedded ESG practices, Vivaldi’s strategy for its next phase focuses on expanding into high-value niche markets like pharmaceuticals and agri-food, while placing the ecological transition at the core of its growth.

Founded in 1933, Challancin is a French family-owned group specialising in cleaning, security, and multiservices for professional environments. With more than 10,000 employees, 50 agencies across France, and full national coverage, the group generates c. €350 million in revenue and ranks among the leading players in the French cleaning market. Leveraging more than 90 years of expertise, Challancin has built a diversified offering spanning hygiene, safety, and facility services, supported by a strong human-centric culture and long-standing client relationships across resilient sectors.

Houlihan Lokey acted as sellside financial advisor to Veolia on the sale of the STPI, STLI, and Vestalia subsidiaries.

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