123Venture sells AM Froid to Engie Axima

Engie Axima wholly acquired the company, simultaneously buying shares from previous investor Calliode Partners and the management.

The group will look to grow its national presence and establish more partnerships with large French brands.

Previous funding 
In May 2010, 123Venture acquired a majority stake in AM Froid, investing alongside Calliode and Jean-Luc Salle, who was brought in to manage the company. 123Venture invested a total of €12m in equity and loans.

Company
Founded in 1984, AM Froid supplies made-to-measure refrigerators, including display fridges, walk-in coolers and packaging rooms for supermarkets.

Its services include design, installation and maintenance. The group works with some of the largest supermarket chains in France, including Monoprix, Franprix, Carrefour and Grand Frais.

Last year, the group installed 300 supermarket fridges, mostly in the Paris region. The group registered a €25m turnover in 2015 and currently employs 114 people.

People
123Venture – Paul de Fréminville (board member); Pierre Réveillon (portfolio manager).

Advisers
Vendor – Fieldfisher, Pascal Squercioni (legal); Lalos Chaumeil, Edouard Lalos (legal).

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• Topics
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• 123Venture