Fauché’s management, supported by EMZ Partners, has just completed the acquisition from Parquest Capital of Groupe Fauché, the leading independent electrical engineering specialist in France. On this occasion, management acquires the control of the company.
Multicroissance, GSO Capital and NMP Développement, financial partners of the group since 2011, are also reinvesting in the transaction.
This transaction represents a new milestone in the development of Fauché, which has grown significantly since 2017. Revenues of the group which amounted to €175 million in 2017 should exceed €280 million in 2021 thanks to a well-managed development strategy, both through organic growth and targeted acquisitions. Fauché’s business model has proven particularly resilient in 2020, the group maintaining its growth path.
Patrick Zmirou, CEO of Fauché: “With all the managers of the Group and with Philippe Touyarot, Chairman of the Supervisory Board, we are delighted with the arrival of EMZ Partners by our side. This long-term partner will allow us to pursue the development of the group with confidence, through our dynamic strategy of organic and external growth. This transaction is also a decisive moment in the group’s history since it allows the managers, who heavily invested in the transaction, to gain control of the group and to reaffirm its independence”.
Thierry Raiff (EMZ Partners) added: “We are pleased to commit ourselves alongside Fauché’s management and to provide the group with the financial means to ensure its development. We have great confidence in Patrick Zmirou and his team and fully support their ambition to strengthen Fauché’s leadership in France”.
Denis Le Chevallier (Parquest Capital) said: “We are pleased with the successful entrepreneurial story we shared with Fauché’s management team as well as with the new now opening in the independent development of Fauché”.
The bank financing for the transaction was underwritten by Crédit Agricole, LCL, BPO and CIC.
- ABOUT GROUPE FAUCHE
Groupe Fauché was created in 1963 and is the independent leader in electrical engineering in France. It provides services across the entire value chain, including electrical design/installation, maintenance, design/installation of automation systems and manufactures electrical equipment. Specialized in tertiary and industrials, the group operates for a wide range of sectors. With a workforce of 1,710 employees, in 77 agencies and service centers, the group continued to grow in 2020 despite the Covid crisis and expects revenues over €280 million in 2021.
The company is managed by Patrick Zmirou (CEO).
- ABOUT EMZ PARTNERS
Based in Paris and Munich, EMZ is a leading European investment firm that acts as a partner for medium-sized companies and their respective management teams. EMZ provides flexible equity and quasi-equity financing solutions to founders, family shareholders, and management teams for their development and shareholding projects. EMZ is majority-owned by its own employees. EMZ9, the last vintage of the fund has more than €1.0 billion in total commitments and its investment tickets range from €10 to €150 million.
The transaction was followed by Thierry Raiff, Ludovic Bart et Mathieu Barlet.
- ABOUT PARQUEST CAPITAL
Founded in 2002, Parquest Capital is a recognized private equity player in the French mid-market segment. Since inception, Parquest Capital has made 30 investments with a philosophy to support management teams in the long-term and for ambitious growth projects. Parquest Capital is currently investing its second fund since becoming independent from ING Group in 2014, for an amount of €310 million.
- FINANCIAL INVESTORS
EMZ Partners (Thierry Raiff, Ludovic Bart, Mathieu Barlet) ; Multicroissance (Laurent Sauvade) ; GSO Capital (Laurent Mazard) ; NMP Développement (Frédéric Sajas)
Parquest Capital (Denis Le Chevallier, Thomas Babinet, Camille Coutelet)
- BANK FINANCING
Crédit Agricole (Olivier Cluzel, Magali Champion, Marlène Lacombe, Isabelle Saurel), LCL (Frédéric Morel, Geoffroy Domercq), BPO (Pascal Bourdon, Laurence Cros), CIC (Alexis Loustalan, Xavier Coia)
- ADVISORS ON THE TRANSACTION
Legal advisors : Moncey Avocats (Corporate : Guillaume Giuliani, Marie-Victoire James, Eléonore Coquerel, Bonnie Brenier, Valerie Colin-Simon, Tax : Frederic Bosc, Mathilde Cotillon, Financing : David Malamed, Jonathan Devillard, Social : Anastasia Fleury)
Legal advisors: Claris Avocats (Manfred Noé, Léopoldine Mauvais, Ana Molina)
M&A: Capitalmind (Michel Degryck, Thibault Laroche Joubert, Augustin Alle, Sophie Dupin)
Legal advisor: Goodwin (Corporate : Thomas Maitrejean, Mathieu Terrisse, Yong Fei Zhu, Tax : Marie-Laure Bruneel)
Legal and social VDD: Mazars (Jérôme Gertler, Jordan Benzaken, Victor Fayad-Walch, Laurence Suchet, Charles-Augustin Dequidt)
Financial VDD: Eight Advisory (Katia Wagner, Corentin Bélard, Mourad Mouslih)
Tax VDD: Mamou & Bocarra (Laurent Mamou, Camille Stofati, Benjamin Chemla)
Legal advisor: CARDS (Chucri Serhal)