Petithuguenin family and Waterland join forces to accelerate the growth of Hélios, building a pan-European leader in road safety

Paris, 2 October 2025 – Waterland announces its investment in Hélios alongside family of founder Jean-Luc Petithuguenin and the management team led by Eric Vandoolaeghe. This first LBO transaction marks a strategic milestone in the Group’s development, with the ambition of creating a European champion in road safety and urban asset management.
Completion of the transaction remains subject to the receipt of customary regulatory approvals.

Hélios: an independent leader with strong growth
Founded in 2000 by Jean-Luc Petithuguenin, Eric Vandoolaeghe and Olivier Jacquin-Ravot, Hélios has established itself as the leading independent road signage company in France. The Group employs more than 600 people, generates consolidated revenues of €100 million and operates through nineteen branches across the country.
Its activities cover horizontal signage (road and cycle path markings, specific markings for car parks and stadiums, as well as removal of existing markings), vertical signage (supply and maintenance of signs, beacons and crash barriers) and urban development. Its clients include public authorities – mainly municipalities and departments – as well as private sector customers for car park and industrial site marking.
Hélios is at the forefront of innovation, using advanced digitalisation tools (such as 360° camera road equipment analysis to prioritise works) and a modern, well-sized fleet of vehicles and marking machines. The company culture is recognised for its strength, with teams united around the motto “Mission Road Safety”. The management team led by Eric Vandoolaeghe, a seasoned figure with more than 30 years of experience, also plays a key role in this success.

A resilient, fragmented market with strong growth potential
The French road signage market is worth around €1bn and is growing at approximately 4% annually. More than 85% of activity comes from recurring maintenance, typically under multi-year contracts of four years, giving the sector strong visibility and long-term stability. France has Europe’s largest road network (1.1 million km), yet only around half is currently marked, leaving significant scope for further development.
Looking ahead, the transition towards autonomous vehicles – which will rely on clear and reliable markings – is set to be an additional catalyst for demand. At the same time, the fragmented competitive landscape creates significant opportunities for consolidation.
These same structural growth drivers are visible across Europe, including the UK, which faces a £16bn backlog in road repairs1, rising spend on cycling infrastructure and ongoing autonomous vehicle trials.

A pan-European ambition
With Waterland’s support, Hélios aims to take a new step forward, becoming the nucleus of a future pan-European leader in road safety and urban asset management. This strategy will combine organic investments – in innovation, digitalisation and new branch openings – with targeted acquisitions in France and across Europe to extend territorial coverage, strengthen expertise and expand the customer base.

“We are delighted to begin this new partnership alongside Jean-Luc Petithuguenin’s family and the Hélios management team. Waterland has been following the road safety services market for several years because of its strong fundamentals: high levels of recurring revenue, clear growth drivers from mobility and infrastructure investment, and significant fragmentation across Europe. Hélios represents the ideal consolidation platform to bring together high-potential companies in the sector, both in France and internationally.” – Louis Huetz, Partner, Waterland.

“Hélios has built a project of excellence in road safety that I wish to sustain and expand internationally. Waterland is the partner our family has chosen to accelerate this pan-European growth.” – Jean-Luc Petithuguenin, Founder of Hélios and Founder of Paprec.

About Hélios
Founded in 2000, Hélios is France’s leading independent road signage company with more than 600 employees and consolidated revenues of €100 million. Initially specialising in horizontal signage, the Group has expanded into vertical signage, safety barriers, beacons, removal, accessibility and urban development.
With nationwide coverage, Hélios deploys its expertise across road and airport infrastructure, as well as industrial and commercial facilities. With highly qualified teams and cutting-edge
technology, the Group designs, delivers and maintains superior quality road safety equipment and solutions, meeting the highest standards of safety and durability.

Press Contacts:
Olivia Andrez – oliviaandrez@gmail.com | +33 6 85 52 86 03
Laurence Van Doosselaere – vandoosselaere@waterland.be | +32 473 88 05 21