Andera Partners completed the MBO buyout of Infra Group, which builds and renovates utility infrastructure networks for gas, water, electricity and telecom companies, from Waterland for $114m. “Winch Capital is truly excited to partner with Tom Vendelmans and his team to continue and accelerate the growth of Infra Group. We have been impressed by Infra Group’s management team and our common goal is to reinforce Infra Group’s position as a leader in the Belgian market, while pursuing the change of scale of the Company through new growth opportunities in Europe, notably in France and in Germany,” Laurent Tourtois and Antoine Le Bourgeois, Andera Partners Partners.