Finorpa, Croissance Nord-Pas de Calais invest €800,000 in HES

Finorpa and Croissance each invested €400,000 in the transaction.

The two firms are supporting the replacement of founder and current CEO Bernard Lacquemanne with new CEO Yves Teboul. Lacquemanne will retain a 9% stake in the company following his departure.

According to French publication Capital Finance, Teboul has acquired a 51% stake in the company, with Finorpa and Croissance holding the remaining 40%.

Company
Founded in 1983 and headquartered in Valenciennes, HES is a manufacturer of industrial machinery for the energy sector. The company makes machinery for hydraulic power plants, the steel industry, lubrication systems and gas pipelines.

HES was established as a maker of equipment for hydraulic power plants and the steel industry. In 1994, the company began manufacturing equipment for lubrication systems and expanded to gas pipelines in 2004.

The company employs 14 staff and generated turnover of €2.5m in 2013.

People
HES was founded by Bernard Lacquemanne, who will be leaving the company and replaced by Yves Teboul as CEO in six months' time.

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