Sell. Acquire.Transform.

A buyer, a strategic acquisition or a business ready for a new chapter. We support owners through the decisions and the work that follows.

Let’s talk about your business
01

Sell your business.

We help find a buyer aligned with your business’s value and your goals.

Explore this path
02

Acquire a business.

We define what to look for, identify opportunities and prepare the integration path.

Explore this path
03

Transform your business.

We work on people, financial visibility, strategy and technology alongside your leadership team.

Explore this path

Business experience.Working for you.

Energy, Software and SI. Three different journeys taught us to connect a corporate transaction with the work required to grow a business.

+11M€
Aggregate value of production · 2025
3
Businesses. Three transformation journeys.

Sell your business.Give its value a future.

Succession, a sale or a new personal chapter: we start with what you want to achieve. We help find a buyer and build a path aligned with the business’s future.

I want to sell my business
Clarify the sale.
Owner objectives, transaction scope, timing and business continuity.
Prepare the business for discussions.
Organise the numbers, offering and strengths to present the business to potential buyers.
Find relevant counterparties.
Define the buyer profile, research potential buyers and manage confidential initial contact.
Support you through the process.
Coordinate information, meetings and discussions with your legal, tax and financial advisers.

Find the right business.To grow together.

An acquisition should add something to your business: expertise, customers, production capacity or access to new markets. We help translate that ambition into search criteria and tangible opportunities.

I’m looking for an acquisition
Define the business you need.
Sector, scale, capabilities, markets and complementarities against your growth plan.
Research and shortlist opportunities.
Scouting, initial contact and comparison against agreed criteria.
Assess the industrial fit.
Products, customers, people, processes and synergies: assess what can work together.
Prepare for life after acquisition.
Support the process alongside specialist advisers and define responsibilities, priorities and an integration plan.

WAYS TO INVEST

Three structures.One business vision.

The stake is only part of the decision. Consider the capital required, who will lead the business and the owners’ future role.

01BECOME A PARTNER

Minority stake

Take an equity stake and work alongside the existing owners to grow the business.

When it fits
When the existing owners can continue to lead the business’s growth.
Advantages
Less upfront equity than a full acquisition at the same valuation. Continuity of ownership and leadership.
Trade-offs
Less decision-making autonomy. Agree governance rights, access to information and exit arrangements.

02ACQUIRE IN STAGES

Majority + option

Acquire a majority stake. Operating shareholders remain involved, with an option to buy their remaining stake.

When it fits
When you want to lead the business and retain the people who know it.
Advantages
A staged investment and operational continuity. The future price can reward results delivered by the owners who stay.
Trade-offs
Plan the future purchase price and funding needs. Define roles, timing, targets and option terms clearly.

03ACQUIRE THE WHOLE BUSINESS

100%

Acquire all the shares and set a new direction for the business.

When it fits
When you want full ownership and complete integration.
Advantages
A single ownership structure. Greater autonomy over organisation and the business plan.
Trade-offs
More capital than a partial stake at the same valuation. Plan the transfer of knowledge and relationships.
Let’s discuss your acquisition

FROM INTENT TO ACQUISITION

A structured process.Before every signature.

After the search and initial discussions, we coordinate the process with the legal, tax and financial advisers involved.

  1. LOI / MOU

    Align the intentions.

    A letter of intent or memorandum of understanding sets out scope, indicative value, timing and conditions. Confidentiality and exclusivity clauses may be binding.

    An agreed framework to move forward.
  2. Due diligence

    Verify what you are buying.

    Financials, cash, tax, contracts, people, operations and technology. Findings can change the price and terms, or lead to a decision not to proceed.

    A clear view of risks and opportunities.
  3. Agreements & closing

    Complete the transaction.

    Negotiate and sign the definitive agreements. At closing, once the agreed conditions are satisfied, complete payment and transfer the shares.

    New ownership, responsibilities and an integration plan.

After closing, the work continues.

People, organisation and priorities: the transaction becomes a plan to execute.

See how we work
Explore the transaction terms

LOI and confidentiality · BDCThe acquisition process · BDC

Move your businessforward again.

Start with a specific challenge or a broader transformation, even without a corporate transaction. We support owners and leadership teams in decisions and execution, connecting five areas of change.

Talent goes whereit can see a future.

Hundreds of interviews have taught us to recognise managers who can make a difference. But recruiting them is only part of the work: the business must attract them, integrate them and enable them to have an impact.

  • We define key roles, responsibilities and the skills to look for.
  • We source and select managers and specialists, taking care of every step of the candidate experience.
  • We build a credible proposition: vision, autonomy, objectives and a clear onboarding path.

A team with clear responsibilities, a shared culture and tangible reasons to stay and grow.

A vision to believe in.A plan to put into action.

We listen to the leadership team’s ideas and test them against customers, the market and competitors. We connect the dots to build a direction the team can own and commit to delivering.

  • We clarify positioning, the offering, pricing and development opportunities.
  • We align products, R&D and operational priorities with the chosen direction.
  • We translate the vision into objectives, responsibilities and shared decisions.

An actionable business plan: what to do, why it matters, who owns it and how to track progress.

Understand your margins.Take control of cash flow.

Growing revenue alone does not tell you how the business is performing. We make margins, costs, receipts and commitments clear, so you can decide where to invest and which initiatives can support growth.

  • We establish management reporting around margins, costs and operating results.
  • We build cash-flow forecasts covering due dates, expected receipts and commitments.
  • We compare budgets with actuals and assess investments alongside their impact on liquidity.

A shared, up-to-date financial and operating view that leadership can use to make decisions.

More capability in your team.More edge in your market.

We bring AI tools into daily work, automate where the benefit is tangible and develop custom solutions when they can create a distinctive competitive advantage.

  • SI Adoption to build skills, introduce tools and establish new working habits.
  • SI Agents to reduce repetitive tasks and free up operational capacity.
  • Bespoke projects for products, data and solutions that set your offering apart.

A technology roadmap tied to business priorities, with projects selected for the value they can create.

Get chosenfor what you know.

We help businesses make their value visible. We bring our approach to lead generation: identify trends, offer useful content and turn interest into commercial conversations.

  • We define audiences, the value proposition and topics that matter to the market.
  • We build content, workshops and campaigns that demonstrate the company’s expertise.
  • We organise follow-up, pipeline and offers, tracking the journey from first contact to project.

A more structured commercial system, with traceable opportunities and an offer the market can understand and buy.

A shared plan.Work that moves forward.

We put expertise where it is needed: in decisions, teams and projects. With an agreed scope and a continuous conversation about what is working.

Establish the priorities

We listen to people, examine the numbers and test ambitions against the market.

A shared diagnosis and intervention priorities.

Put the plan into action

We define the plan and work with its owners to activate people, tools and projects.

Initiatives with assigned owners and resources.

Measure and adjust

We review progress, results and cash impact. We revisit priorities when the data calls for it.

A management rhythm that moves the plan forward.

Three businesses.Three transformation journeys.

ICEL, XEEL LAB and UnderControl. Work on organisation, financial management, offering and technology: what we have done, business by business.

100% acquired in 2022

From continuity.To industrial growth.

New management, distributed responsibilities, broader markets and an expanded switchgear range.

The story of ICEL

Signed option to acquire 70%

A stronger model.A new offering.

Cost control and pricing, team development and SI projects alongside time and materials services.

The story of XEEL LAB

Signed option to acquire 70%

Domain expertise.Becomes agentic capability.

From conversations with over 30 clients to a Claude connector and project management automations.

The story of UnderControl

Let’s talk about your business.

Tell us your goal, sector and current situation. We start with a confidential conversation.

Or email us directlyinfo@icarex.ai

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The first step is to understand your priorities together.