Nearly three years after Fauché Group’s Management Buy-out, supported by EMZ Partners, the management has completed a new MBO transaction alongside EMZ. This transaction has enabled the company to broaden the circle of employee-shareholders, who now represent over 30% of total employees, hence retaining a majority stake. GSO Capital, Multicroissance and NMP Développement, the group’s financial partners since 2011, are also reinvesting in the transaction.
As the leading independent electrical engineering pure player in France, Fauché Group has enjoyed vigorous growth over the past three years, rising from €280m in sales in 2021 to over €430m expected in 2024. The group has grown mainly organically, by strengthening its geographical footprint with over 120 locations, and by accelerating its external growth strategy with the completion of 11 acquisitions.
Going forward, the Group’s ambition is to pursue a controlled and lasting organic growth, continue improving its operational efficiency, develop high value-added services and pursue external growth.
This transaction also marks the handover between Patrick Zmirou, CEO since 2015, and Christophe Guitton, ex Equans (Bouygues Group) who joined Fauché in 2023 as Managing Director. Patrick Zmirou will become Chairman of the Supervisory Board, while Christophe Guitton will take over as Fauché Group’s CEO.
“For the past 10 years, we have experienced a remarkable entrepreneurial and human adventure, supported by our strong values and a unique and robust management model. By taking part in this new transaction alongside the group’s employees, our financial and banking partners have reaffirmed their commitment to us. I have full confidence in our teams’ ability, led by Christophe Guitton, to carry out this ambitious yet well-managed Group’s development project over the coming years.”
PATRICK ZMIROU – Fauché
Through this new transaction, that is backed by the same financial and banking partners, and with over 80% of the company’s capital held by its employees, Group Fauché is pursuing a carefully controlled and ambitious growth path, at the heart of energy and environmental issues. I would like to thank Patrick Zmirou for creating the right conditions that will enable us to build on the great achievements of the past decade, and I am delighted that he will continue to support us as Chairman of the Supervisory Board. Together with my colleagues of the Executive Committee, the managers and all the group’s employees, we look forward to continuing this exciting adventure, in which our entrepreneurial culture, our human values – humility and conviviality – and our sense of service – responsiveness and commercial proximity – remain the fundamentals of our corporate project.
CHRISTOPHE GUITTON – Fauché
“We are delighted to continue the adventure alongside this outstanding management team, which has been able to involve all the group’s team members in the success of the project and instill a strong entrepreneurial spirit. The growth prospects in the energy services market, driven by the massive challenges of the energy transition, should generate numerous opportunities for Fauché.”
THIERRY RAIFF & LUDOVIC BART – EMZ PARTNERS
Bank financing for the transaction was provided by Crédit Agricole, CIC, Caisse d’Epargne, BPO and LCL.
PARTICIPANTS LIST
Fauché: Patrick Zmirou, Christophe Guitton, Michel Baqué
EMZ Partners: Thierry Raiff, Ludovic Bart, Louiza Kherchi
GSO Capital: Laurent Mazard, Multicroissance: Laurent Sauvade, NMP Développement: Frédéric Sajas
ADVISORS LIST
M&A Advisors – Management: Capitalmind Investec (Thibault Laroche-Joubert, Augustin Alle, Ryan Moyal)
Financing Advisors: Capitalmind Investec (Guillaume Olivier)
Legal Advisors – Management: Claris (Manfred Noé, Ana Molina, Manon Fortin, Sixtine Du Mesnil)
Legal Advisors – EMZ: Moncey Corporate team (Guillaume Giuliani, Marie-Victoire James, Eléonore Hennekinne, Bonnie Brenier, Pénélope Renard), Moncey Tax team (Frédéric Bosc, Mathilde Cotillon), Moncey Financing team (David Malamed, Diane Ferriol, Inès Ourabi)
Legal Advisors – Banks: Cards Avocats (Chucri Serhal, Méliné Torikian, Carole Geara)
Financial VDD: 8 Advisory (Katia Wagner, Nicolas Peluso, Wayl Hammami, Marie-Lou Delvaille)
ABOUT FAUCHÉ
Founded in 1963, Fauché is the leading independent provider of energy solutions and services: electricity, industrial processes and automation, multi-technical maintenance, etc. Present across the entire value chain – design, construction, optimisation and maintenance – the group operates in industry, tertiary and infrastructure sectors. With more than 120 locations in France, Fauché relies on its decentralised organisation and entrepreneurial model to strengthen its employees’ proximity, responsiveness and availability. Fauché employs 2,600 people exclusively in France and generated €400m of sales in 2023.
ABOUT EMZ PARTNERS
Based in Paris and Munich, EMZ’s professionals have completed 160 investments since 1999, for a total value of €5.0 billion. EMZ invests alongside founders and managers of SMEs wishing to increase their shareholding stake of finance strategic external growth operations. EMZ is currently investing the EMZ 10 fund, which totals €1.4 billion of commitments. EMZ’s investment scope covers France, Germany, Austria and Switzerland, with tickets between €10m to €200m.
