BPI France and Crédit Agricole back Technique Solaire

According to press reports BPI France and Crédit Agricole Régions Investissement invested €4m in the company.

Both investors have provided debt to the company since 2009.

The deal is the first investment for BPI France's France Investissement Energie Environnement (FIEE) fund, launched in July 2017. The fund had a capacity of €100m when launched this summer, and invests in SMEs related to renewable energies, energy efficiency and the circular economy. 

Crédit Agricole Régions Investissement, set up in 2002, tapped its CATP Expansion fund for the investment. Crédit Agricole Régions Investissement manages approximately €180m, allocating €20-40m a year. It invests €200,000-10m per deal, but more when co-investing with other Crédit Agricole Group companies. The GP targets SMEs with a turnover of €2-200m.

The group aims to triple its installed capacity by 2020.

Company
Founded in 2008, Technique Solaire develops and installs sustainable energy products focusing on solar and biogas systems. It is headquartered Poitiers and has facilities in France, including Guadeloupe, as well as in India. The group includes 31 subsidiaries, of which 25 are project companies. 

People
BPI France Investissement – Jacques Solleau (director); Samia Ben Jemaa (investment director); Marc Prevot (managing director); Jérôme Langlade (investor).
Crédit Agricole Régions Investissement – Etienne Guerche (chargé d'affaires).
Technique Solaire – Lionel Themine, Julien Fleury, Thomas de Moussac (co-founders, managing directors).

Advisers
Equity – Meridian Avocats, Paul-Henri Dubois, Camille Davin (legal); Deloitte, Alexis Levasseur, Armel Pedron (financial due diligence); Greensolver, Guy Auger, Carla Vico, Marcos Blanco (operational due diligence); S3D, David Guianvarch (operational due diligence).
Company – Finergreen, Damien Ricordeau, Louis Catala, Arthur Omont (M&A); Deprez Guignot Associes, Grégoire Guignot, Me François-Xavier Blanchard (legal).

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• Expansion
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• BPI France