The Fareneït group is opening a new chapter in its development alongside Crédit Mutuel Equity and Bpifrance

Established in 2000, and based in Sartrouville, the Fareneït group, which specialises in services relating to the installation and maintenance of technical installations for the building and industry sectors, is continuing its growth alongside two investors, Crédit Mutuel Equity and Bpifrance. Boasting 14 subsidiaries following successive mergers, the Group, which is based in Île-de-France, now generates 50 million euros in turnover and has 280 employees. This first round of funding of 12.5 million euros, will enable Fareneït to develop and strengthen its multi-regional network, especially in the Lyon region, in the areas in which it specialises (air-conditioning systems, electrical engineering and roofing/waterproofing).

The Fareneït group was established with the ambition of offering its diverse range of customers, comprising major groups, architects, design offices and property asset managers, a comprehensive range of services covering the installation and maintenance of technical installations for the building and industry sectors including heating, ventilation, air conditioning, electricity, plumbing and roofing.

Boasting eight locations in France, including in its home region of Île-de-France, and also in Auvergne Rhône-Alpes, Normandy and Hauts-de-France, this multi-specialist company developed gradually by incorporating around thirty or so SMEs since its establishment, enabling it to manage its continuous growth in stages. Its federal structure takes its strength from its workforce : each subsidiary has a high degree of managerial independence and has two guiding principles, which are the individual quality of each employee and the importance of being part of a larger team constantly striving for performance and efficiency.

This first round of capital financing by Crédit Mutuel Equity, the leading partner in the transaction, and Bpifrance, gives Fareneït, and its co-founders Joël Claudepierre and Christophe Puga, who remain majority shareholders, the opportunity to grow and become a midsize company. This transaction demonstrates the group’s ambition to acquire target companies that are sufficiently large to achieve a turnover of more than 70 million euros, while remaining true to its values and its long-term vision for the business.

“Fareneït has been patiently growing in size for the past 20 years, by setting reasonable and solid targets, during which the time aspect has played a central role. That’s why we wanted to find like-minded partners, capable of supporting us in our long-term approach, respecting the tempo and values of the company. In both cases, we were delighted to enter into high-quality partnerships on both a human and professional level : on one hand, we selected Crédit Mutuel Equity for its knowledge of the sector, its expertise in company organisations and its multi-regional presence, which will enable us to broaden our development capacity and, on the other hand, we selected Bpifrance as an institutional player capable of supporting us over the long term”, explained Christophe Puga, Managing Director of the Fareneït group.

“We are delighted to formalise this relationship with the management team of the Fareneït group. Becoming shareholders was based on a shared vision of market challenges, the development strategy, as well as the shared resources and values between our entities. For us, Fareneït has assets that set them apart, in the attention it pays to the human aspect and the quality of its installation and services in its maintenance and installation business. In a market led by external growth transactions, a route well travelled by Fareneït over the past few years, the directors and teams have the ambition and credibility to continue developing, supported by long-term investors”, added Jean-Marie Giannettini, Director of Shareholdings at Crédit Mutuel Equity.

“Fareneït, whose business has doubled in the past five years, has become a key player in the Île-de-France region in the Air-conditioning and Electrical engineering market. We are very proud to support the management in this new stage of the group’s development, alongside Crédit Mutuel Equity, and to take part in the implementation of an external growth policy targeting the north and the Rhône-Alpes region.” , added Axel PIRIOU, Director of Shareholdings and Hortense JACON, Investment Manager at Bpifrance.

About Crédit Mutuel Equity

Crédit Mutuel Equity groups all the Capital Investment activities of Crédit Mutuel Alliance Fédérale : Capital Développement (Capital Development), Capital Transmission (Capital Transfer) and Capital Innovation.

Crédit Mutuel Equity provides capital support to directors at all stages of development of their companies - from start-up to transfer - giving them the resources and time required to implement their transformation projects. Crédit Mutuel Equity boasts over 350 directors who share their convictions and questions within a real network of entrepreneurs, which offers everyone, regardless of the nature of their project, the assurance of benefiting from the experience of others. By investing its own capital (3.5 billion euros), Crédit Mutuel Equity finances companies' projects with timelines that are adapted to their development strategy, in France, Germany, Switzerland, Canada and the United States.

For more information : www.creditmutuel-equity.eu

About Crédit Mutuel Alliance Fédérale

A first-rate French bank and insurance company, with over 75,000 employees, serving over 29 million customers, Crédit Mutuel Alliance Fédérale offers a range of services to individual customers, local professionals and companies of all sizes, via 4,500 points of sale. Among the most solid banking groups in Europe, its equity capital amounted to 53.2 billion euros and its CET1 ratio was 18.8% on 31 December 2021. Crédit Mutuel Alliance Fédérale groups the Crédit Mutuel funds of the following federations : Centre Est Europe (Strasbourg), Sud-Est (Lyon), Île-de-France (Paris), Savoie-Mont Blanc (Annecy), Midi-Atlantique (Toulouse), Loire-Atlantique and Centre Ouest (Nantes), Centre (Orléans), Normandie (Caen), Dauphiné-Vivarais (Valence), Méditerranéen (Marseille), Anjou (Angers), Massif Central (Clermont-Ferrand), Antilles-Guyane (Fort-de-France) and Nord Europe (Lille). Crédit Mutuel Alliance Fédérale also groups the Caisse Fédérale de Crédit Mutuel, the Banque Fédérative du Crédit Mutuel (BFCM) and all its subsidiaries CIC, Euro-Information, Assurances du Crédit Mutuel (ACM), TARGOBANK, Cofidis, Banque Européenne du Crédit Mutuel (BECM), Banque de Luxembourg, Banque Transatlantique and Homiris.

More information is available at www.creditmutuelalliancefederale.fr

About Bpifrance

The capital investments of Bpifrance are carried out by Bpifrance Investissement. Bpifrance finances companies - at every stage of their development - with credit, guarantees and equity capital. Bpifrance supports them with their innovation and international projects. Bpifrance also supports their export activity through a wide range of products. Consulting, its own university, networking and acceleration programme for start-ups, SMEs and midsize companies are also offered to entrepreneurs.
Thanks to Bpifrance, and its 50 regional branches, entrepreneurs benefit from a sole, local and efficient point of contact to support them in their challenges.

More information is available at : https://bpifrance.fr/ - https://presse.bpifrance.fr/

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