Panosol (France) - Dec 2007

Demeter Partners has invested €1.2m in a series-A round investment in start up Panosol. The founders retained the majority of the capital.

Company

Toulouse-based Panosol installs solar energy solutions such as solar panels and solar heating in private homes. The company operates in the south of France and seeks to use the investment to increase its presence in the geographical area to about 20 agencies over the next three years. Since it was created in March 2006, the company’s solar installations have increased threefold. The company had a turnover of €1.3m in 2007 and aims to generate €6.3m in 2008. Panosol employs 20 people.

People

Mathieu Pauc and Nicolas Durand are the co-founders of Panasol, while Stéphane Villecroze and Benjamin Carlu worked on the deal for Demeter Partners.

Advisers

Equity - Grant Thornton, Marc Claverie, Sylvain Quagliaroli (Financial Due Diligence)Equity - Morvilliers Sentenac, Guy-Alain Lafont de Sentenac, Murielle Freund (Legal)

Sourced from: France unquote" 89 (Mar 2008)

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