Press release from the Competition Council regarding the economic concentration project concerning the joint takeover of the company “Segula Holding SAS” by the companies “Eiffel Investment Group SAS” and “Eurazeo SE”

In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 issued for its implementation, as amended and supplemented, the Competition Council makes available to the public the “operation summary” below, containing the information provided by the parties.

This information was prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.

The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 issued for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented.

Names of the companies and groups involved:

• Acquirer No. 1: The company “Eiffel Investment Group SAS”;
• Acquirer No. 2: The company “Eurazeo SE”;
• The target: The company “Segula Holding SAS” as well as its subsidiaries.

Nature of the operation:

• Joint takeover.

Economic sectors concerned:

• Engineering works and technical studies.

Deadline for interested third parties to submit their observations:

• 10 days from the date of publication of this press release, i.e., March 16, 2026.

NON-CONFIDENTIAL SUMMARY OF THE OPERATION

PROVIDED BY THE PARTIES

The Competition Council received notification of an economic concentration project concerning the joint takeover of the company “Segula Holding SAS” and its subsidiaries, together the “Segula Group”, by the companies “Eiffel Investment Group SAS” and “Eurazeo SE”.

“Eiffel Investment Group SAS” is a French portfolio management company controlled by the company “Impala SAS”. “Impala SAS” and its subsidiaries together the “Impala Group”, is a French private investment group based in Paris. The “Impala Group” makes long-term investments in the industry, energy, consumption, services, and finance sectors, both in France and internationally. Its strategy is entrepreneurial and aims for sustainable value creation through control and growth investments to support the development and transformation of the companies in its portfolio.

“Eurazeo SE” is an investment company headquartered in Paris, France. This company holds a significant portfolio of diversified assets. Its mission is to identify, accelerate, and enhance the transformation potential of the companies in its portfolio, regardless of their size. It operates in three main activities: private equity, private debt, and real assets. “Eurazeo SE” is active in Morocco through its subsidiaries the companies “Planet Payments Services UK, Worldstrides, Questel, Scaled Agile, Redspher (Flash Maroc) UTAC Maroc”, “Altaïr group”, “I-Tracing, Ekoscanet Diffusely” (formerly Meero).

The “Segula Group” is a global engineering and technology consulting group of French origin, active notably in the automotive, aerospace/defense, energy, and railway sectors. In Morocco, the “Segula Group” operates through its subsidiaries “Segula Maroc Africa SA” (SMAF), “Segula Morocco SARL” (SM), “Simra Maroc SA”, “Simra Tanger SARL”, and “RDO SARL”, a real estate subsidiary of “Simra Maroc SA”.

 

Done in Rabat, on March 5, 2026