Siparex et al. back ECM Technologies with €10m

Siparex and BPI France co-led the round, investing €4.4m each. Investment companies InnovaFonds and Capida completed the round by providing €1.2m between them.

ECM will use the fresh capital to strengthen its core industrial furnaces activity, but also to develop the photovoltaic engineering side of the business. Acquisitive growth options will be explored, according to Siparex.

Company
With roots dating back to 1924, ECM designs, manufactures and distributes heat-treating furnaces. The group also offers low-pressure cementation installations for the automotive and aerospace markets.

Based in Grenoble, the company employs around 200 staff and generates revenues in the region of €60m.

People
Bertrand Robert and Mathias Cuny worked on the deal for Siparex. BPI France was represented by Nicolas Manardo, Stephen Fargis, Sophie Paquin and Jean D'Arthuys.

Advisers
Equity - TAJ, Antoine Larcena, Marion Morvan, Sandrine Berstein Saunier, Émilie Colly (Legal); Grant Thornton, Thierry Dartus, Damien Moron (Financial due diligence); LEK, Serge Hovsepian, Frédéric Dessertine, Bénédicte de Guénégan (Commercial due diligence).
Company - Cabinet Soulier, Jean-Pierre Chaux, Catherine Nommick (Legal); Edmond de Rothschild CF, Guillaume Queyrat, Nicolas Julian (Corporate finance).

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• Topics
• France
• Expansion
• Industrials
• France
• Siparex