BPI France backs Setforge

Industrial group Farinia, the previous owner of the business, will remain invested in Setfroge.

BPI France intends to support the group's organic and acquisitive growth, as well as international expansion.

The firm has invested in the business via its Fonds Avenir Automobile division, launched in 2009. The division manages two vehicles: €600m FAA Rang 1, which provides tickets of €5-60m; and €50m FAA Rang 2, which invests €1-5m.

The Fonds Avenir Automobile strategy is backed by investors and corporates, including PSA, Renault, Bosch, Faurecia, Hutchinson, Plastic Omnium and Valeo.

Previous funding
BPI France previously backed Setforge's subsidiary Forge & Développement in 2011.

Company
Based in Paris, Setforge is a designer and manufacturer of forged and machined components for the automotive sector, serving companies such as Renault, Peugeot and Volkswagen. The business has origins dating to the early 1900s. 

People
Setforge – Hervé Gestas (general director).
BPI France – Hubert Hernandez (investment director).

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• BPI France