Skywater (France) - Dec 2007

unquote
01 December 2007

Tweet
Facebook
LinkedIn
Google plus
Send to

XAnge Private Equity and Emertec Gestion have injected €2m in the first round of funding for rainwater collection specialist Skywater. XAnghe invested €1.4m via its FCPI vehicles, while Emertec made its €600,000 contribution through FCPR Emertec Energies Environnement. The deal was sourced via corporate financier Capital Partner. This financing should enable the company to reach a turnover of €16m by 2010. New money will only be raised to accelerate potential growth.

Company

Founded in 2004, Reims-based Skywater has developed and patented rainwater storage systems and water pressure regulators. The collected water will be used by corporate and public clients, with applications for cleaning services, cooling systems, watering and toilets for example. The technology claims to be able to provide up to 70% of its clients’ water requirements, meaning cost savings, and a safer supply. The cost of the product is typically recouped within three to five years by customers. The company, which distributes its system via a network of licensees, anticipates sales of €2m in 2007, but sees this figure reach €16m by 2010, thanks notably to the increasingly comprehensive geographical coverage of its distributors.

People

Dominique Agrech and Fanny Corpet were in charge of the transaction for XAnge, while Eric Marty worked for Emertec. Willy Rohdmann and Loïc Gouzien are Skywater’s founding CEOs.

Advisers

Equity - Aplitec, Gerard Leple, Isabelle Stecker-Hazan (Financial Due Diligence)Equity - UGGC & Associés, Anne Ducros, Pascal Squercioni (Legal)Management - Capital Partners, Jean-Arthur Datté, Michel Degruyck (Corporate Finance)Management - Pinot de Villechenon & Associés, Antoine Thiébaut, Erwan Tostivint (Legal)

Sourced from: France unquote" 87 (Jan 2008)