CM-CIC in €10m round for Phenix

CM-CIC is joining Phenix's existing pool of investors including Audacia, which provided two rounds of funding for the group in 2013 and 2015 successively.

Sébastien Roumelot, the company's co-founder and CEO, will retain a majority stake in the advertising group. Phenix's turnover steadily increased from €22m in 2014 to €27m last year. Since inception, and with Audacia's support, the group has completed seven build-ups.

Most recently, it acquired PhinLine, specialised in outdoor advertising for the pharmaceutical industry, similarly to Stratego, bolted on in 2009. Phenix also launched its digital subsidiary in 2016 to improve omni-channel communication, according to a company statement.

The fresh funding should enable it to complete a few more acquisitions in the sector and to keep enhancing and extending its screen-based advertising technology.

Recent investments completed by CM-CIC included the takeover of La Croissanterie and that of FDG Group earlier this year, as well as a €6m round for Sigma.

Previous funding
Phenix previously received two rounds of funding, both provided by Audacia: in 2013, the GP injected €1.5m into the group, followed by a €1.3m round two years later. The capital received notably enabled the group to complete several external acquisitions.

Company
Founded in 2013 through the merger of Insert, Kawet and Storequest, Phenix specialises in outdoor advertising and marketing technology. It claims to own 400 digital screens in Paris, which reach an estimated 42 million viewers a week. The group owns and manages several subsidiaries such as a PhenixDigital, Stratego, and Kawet, each of which services clients from different sectors.

Phenix employed 300 people and generated €27m in revenues in 2016.

People
CM-CIC Investissement – Stéphane Vermot-Desroches (senior principal); Germain Debaene (analyst).

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• Topics
• Expansion
• France
• Technology
• France
• Credit Mutuel Equity (ex CM-CIC Investissement)
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