Jardel raises €1.6m from BPI France et al.

A breakdown of the round was not provided, but Multicroissance, whose investments target companies in south-west France, typically writes cheques in the €300,000-3m space.

The investment takes place in parallel with a management transition at Jardel, soon to be led by hitherto managing director Dimitri Goineau.

Under his supervision, the company will continue the build-up strategy it has followed for the past few years. Notable bolt-ons include Vianord, acquired by Jardel in 2012; the add-on provided the business with a foothold in northern France.

BPI France has had an active return from the summer recess. The state-backed investor recently took part in a €45m round for French renewable power producer Quadran and a €6m financing provided to freight transporter alongside Picardie Investissement.

Company
Founded in 1985, Jardel is a freight transport service specialising in the shipping of refrigerated goods for retailers.

With headquarters near Toulouse, the business works via a network of 11 sites across France, with a focus on the south-west region. With 800 freight vehicles under management, the company employs 1,100 professionals and most recently generated €100m in revenues.

People
BPI France was represented by Christine Busque, while Pierre-François Brunot, director of participations at Multicroissance, led the deal on behalf of the firm.

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• Topics
• France
• Expansion
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• France
• BPI France