Eurazeo has acquired a majority stake in French-based SMP Energies through its Planetary Boundaries Fund (EPBF), with the goal of transforming the geothermal drilling company into a European market leader in deep drilling and decarbonised energy solutions.

The deal marks the second investment by EPBF since its March 2025 launch, reinforcing the fund’s strategy to scale profitable businesses that address planetary challenges, particularly climate change and pollution.

SMP Energies is France’s leading contractor in geothermal well construction and maintenance, with over 60 wells drilled to date. The company provides fully integrated services, covering drilling, workovers, and well abandonment across both domestic and international markets.

With demand for deep geothermal energy rising across Europe, driven by the need for sovereign, baseload renewable energy and supportive regulatory conditions, Eurazeo’s investment comes at a pivotal moment. In 2023, Europe’s five largest geothermal markets generated approximately 8TWh, with double-digit growth expected through 2030.

“We are very pleased to support SMP Energies’ growth ambition to accelerate geothermal energy development in Europe,” said Erwann Le Ligné and Wilfried Piskula, Partners and Co-Heads of EPBF. “This second investment highlights our strategy of backing small and mid-sized businesses capable of becoming tomorrow’s environmental champions.”

SMP Energies CEO Fabien Lemesnager welcomed the partnership, noting: “Their long-term commitment and impact-driven investment strategy are fully aligned with our vision. This partnership will accelerate our growth, strengthen our capabilities, and help us scale our impact.”

The investment will support SMP Energies’ continued expansion through both organic development and strategic acquisitions, in line with EPBF’s buy-and-build approach.

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