EiM Capital Sells its Majority Stake in Citygie Group including its Subsidiaries Francioli, Protecsan, & Cubik Home
12-10-24
EiM Capital announced today that it has successfully completed the sale of Citygie Group, a prominent provider of urban furniture made from prefabricated concrete. The divestment includes Citygie's subsidiaries Francioli and Protecsan, along with a minority stake in Cubik Home.
EiM Capital is an investment firm specializing in the acquisition, development, and transformation of privately held companies that require growth and repositioning support.
Citygie, based in Chaleins, France, is an industrial group specialized in the design, off-site manufacturing, installation, maintenance, and servicing of urban infrastructure solutions. The group is a leading provider of prefabricated concrete public restrooms and urban furniture for public and private clients for over 60 years.
EiM Capital had acquired Citygie from the Consolis Group in 2019. During its ownership, EiM Capital actively supported the management team in repositioning the Group towards new products and markets, significantly improving its financial performance and development prospects. EiM Capital also backed Citygie's acquisition of a minority stake in Cubik Home, a company developing an innovative low-carbon fiber-reinforced concrete modular construction technology for public facilities and private housing.
Convinced of Citygie's development potential in its historical markets as well as in promising new markets, Éric Piroud, already a minority shareholder along with his team, has positioned himself for the majority acquisition of the Group through their holding company, Hygie Investissements."
Hygie Investissements is supported by BTP Capital Investissement, Sopromec Participations, and 5 private investors specialized in the construction sector (Qualified Investors) as minority shareholders, and has completed its financing with a banking pool led by Société Générale and Caisse d'Épargne Rhône-Alpes.
Renaud Delaage and Luigi Chiaraviglio, founding partners of EiM Capital, said, "This transaction perfectly illustrates our expertise in acquiring non-core subsidiaries of large groups, repositioning them, and developing them alongside the management team, enabling them to fully realize their sustainable and profitable potential."
"I am extremely proud of the work accomplished over the past five years alongside EiM Capital. Together, we have succeeded in making the Group autonomous and consolidating its leadership position, particularly through its repositioning on higher value-added markets and the acquisition of a stake in Cubik Home," added Eric Piroud, President of the Hygie Investissements.
Philippe Magnani, Partner at EiM Capital, added: "We are delighted to have contributed to Citygie's development and to have facilitated the transition of leadership to Eric Piroud and his team. We extend our best wishes to them as they guide the group into its next phase of growth."
Societex provided advisory services to the seller in relation to the M&A process, while Almain handled the legal aspects. BDGS was responsible for advising on tax-related matters, and Deloitte managed the financial aspects of the transaction.
About EiM Capital:
EiM Capital is an investment firm specialized in the acquisition, development, and transformation of unlisted SMEs seeking new momentum. Focusing mainly on the industrial, construction, chemicals, consumer goods, and associated services sectors, EiM Capital's portfolio consists of small and medium-sized enterprises. Founded by Renaud Delaage and Luigi Chiaraviglio, EiM Capital operates across Europe from its offices in Paris, Milan, London, and Luxembourg.
About the Citygie Group:
Based in Chaleins, the Citygie Group is a French industrial group specialized in the design, manufacturing, installation, maintenance, and servicing of urban development solutions, including high-value-added technical concrete public restrooms and urban furniture for public and private clients for over 60 years.
About BTP Capital Investissement:
Created in 1974, BTP Capital Investissement is an investment company that invests in equity and quasi-equity in SMEs and intermediate-sized enterprises in the construction and related sectors, whose shareholders are the main industry institutions (Fédération Française du Bâtiment, BTP Banque, SMA BTP, and ProBTP). BTP Capital Investissement primarily intervenes in development (organic or external growth) or the financing of transmission’s operations.
About Sopromec Participations:
Founded in 1964, Sopromec Participations is a company that supports entrepreneurs through minority equity investments. Sopromec Participations invests in companies from all sectors in development capital and transmission capital, in France. With solid expertise, the Sopromec Participations team prioritizes rapid decision-making and efficient execution based on simple engineering.
