CM-CIC increases stake in Fouchard

Fouchard's employees and the new CEO, Stéphane Sartelet, acquired an equity stake in the transaction.

In total, 70 employees are currently shareholders alongside chairman Frédéric Fouchard and CM-CIC.

The capital will aid the development of its planned branch in Roen, with the firm focusing on organic growth.

Previous funding
CM-CIC first invested in Fouchard in 2005, purchasing a 40% stake in a minority buyout. The previous owner reduced their stake from 70% to 40%, with the firm's management taking a 20% share.

Company
Founded in 1947, Fouchard develops, installs and maintains air conditioning and heating equipment. The company's speciality is air treatment in hospitals. It employs 260 people and expects to generate turnover of €30m in 2017. Its office and manufacturing workshop is based in Coutances and it has branches in Caen, Saint–Lô, Cherbourg and Avranches. Most of its business comes from public and private companies rather than individuals.

People
CM-CIC – Michel Chaboissier (investment manager).
Fouchard – Stéphane Sartelet (CEO); Frédéric Fouchard (chairman).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• France
• Support services
• France
• Credit Mutuel Equity (ex CM-CIC Investissement)