Unquote

PE-backed Groupe Fleuret acquires Sati and Paoletti

  • José Rojo
  • José Rojo
  • LinkedIn  
  • Google plus  

Groupe Fleuret has secured €5m from iXO Private Equity, lenders and founding shareholders for the acquisition of mechanical welding and metal sets businesses Sati and Paoletti.

The management at Groupe Fleuret will retain their majority stake, while details of how the remaining stake will be distributed across investors have yet to be disclosed.

Based in Toulouse and Marseille, iXO Private Equity manages €500m across several retail funds, of which €190m falls within the FIP (local investment funds) category and €310m are classified as FCPI (innovation funds). The deals, ranging between €1m–15m, are focused on SMEs across southern France.

Through the acquisition of Sati and Paoletti, Fleuret expects an immediate threefold increase of its annual turnover (up to €13m) with revenues approaching the €20m mark within five years.

The group, which received a €900,000 investment from venture capital firm OTC Agregator in May 2009, will use the new capital to develop the products it provides to contractors across the aeronautics, spatial and military sectors.

According to the company, a particular focus will be placed on increasing the response capacity to public tenders and expanding its current offer of ground system equipment (GSE).

Companies
Founded in 1986 and headquartered in Toulouse, Groupe Fleuret is a designer and manufacturer of foil containers designed to transport fragile aparatus such as aeronautical, space and telecommunication equipment, military systems and measurement devices.

Sati was founded in 1976 and runs a specialised construction business that generated a €9.08m turnover in 2013. Set up in 1971, Paoletti operates in the same sector and recorded revenues totalling €2.17m in 2014. Both companies are based in Tournefeuille, near Toulouse. 

People
iXO Private Equity was represented by director Jean-Luc Rivière and associate Nicolas Olives. Nicolas Larger is CEO of Groupe Fleuret.

Advisers
Equity – Mazars, Eric Gonzalez, Christophe Delas (Financial due diligence); Cabinet Plasseraud, Jacques Bardou (IP due diligence); Assurinco, Stéphane Juan (Insurance due diligence); Altij, Sylvain Favier, France Charruyer (Legal).
Company – Morvilliers Sentenac, Stéphane Jolas, Murielle Freund (Legal); Synercom, Alain de Chanterac (Corporate Finance).

  • LinkedIn  
  • Google plus  

More on France

Latest News