Funds managed by middle-market private equity house Gilde Buy Out Partners BV agreed to sell Vienna-based Powerlines Group GmbH for an undisclosed sum.

The buyer is Engie SA subsidiary Engie Ineo, formally known as INEO SA.

Powerlines provides critical electrical infrastructure services to railway companies, municipal transport service providers, utility companies and other customers in the rail and energy sectors in central and northern Europe. The existing management team will continue to lead the company.

Lazard was the exclusive financial adviser to Powerlines, Gilde and minority shareholders on the deal. Binder Grösswang, Deloitte and PwC provided additional support to shareholders.