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Press Release

2024-02-13

IK Partners enters into exclusive negotiations with CAPZA for the acquisition of Eurofeu

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IK Partners (“IK”) is pleased to announce that the IK X Fund has entered into exclusive negotiations to invest in Eurofeu Group (“Eurofeu” or “the Group”), a leading player in the French fire protection market. IK is acquiring a majority stake from CAPZA and the management team, who will both be reinvesting. Financial terms of the transaction are not disclosed.

Founded in 1972 in Senonches (Eure-et-Loir, France), Eurofeu installs and maintains fire protection equipment, as well as fire protection systems, for business-to-business (“B2B”) clients mainly. As one of the few market providers in possession of integrated manufacturing capabilities, Eurofeu has a highly differentiated offering. The Group also benefits from a high level of sales recurrence thanks to the maintenance side of the activity, as well as the associated sales of spare parts.

Today, Eurofeu has 1,850 employees, based across 42 agencies and two manufacturing sites, who serve roughly 160,000 B2B clients across France.

Under CEO Eric Hentgès and with the backing of CAPZA since July 2020, the Group has grown considerably; both organically and via an active buy-and-build strategy. In partnership with IK and with the continued support of CAPZA, Eurofeu has ambitions to leverage its network, salesforce and IT tools at its disposal to drive growth. In addition, the Group plans to expand into other European geographies and drive consolidation.

Completion of the transaction is subject to legal and regulatory approvals.

Eric Hentgès, CEO of Eurofeu, stated: “I have been extremely proud of the progress we have made towards becoming a leading player in the French fire protection market. With CAPZA’s backing since July 2020, we have been able to accelerate organic growth and lead an active M&A strategy, allowing us to expand geographically and broaden the Group’s offering to include equipment with more complex capabilities. We would like to thank CAPZA for their support thus far and look forward to partnering with IK and leveraging their pan-European platform to pursue further expansion.”

Diki Korniloff, Partner at IK and Advisor to the IK X Fund, said: “We have been impressed by Eurofeu’s journey to date and are convinced of the critical and resilient nature of their service offering to a wide base of B2B clients. We are excited to partner with Eric and his team, as well as CAPZA, to support the Group in its next phase of growth, where European expansion will be key. The Group will have access to the full breadth of IK resources and expertise, while also being able to leverage our network of European offices.”

Fabien Bernez, Partner at CAPZA, added: “It has been fantastic to work with Eric and the wider team at Eurofeu over the past few years. Since our investment in 2020, the Group has become a leading player in the French fire safety market; an achievement we are very proud of. We look forward to continuing to support Eurofeu and its management team in the next chapter of growth, alongside IK.”

For further questions, please contact:

IK Partners
Vidya Verlkumar
Phone: +44 (0) 7787 558 193
vidya.verlkumar@ikpartners.com

About IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics, and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in over 180 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit ikpartners.com

About Eurofeu

Founded in 1972 in Senonches (Eure-et-Loir, France), Eurofeu installs and maintains fire protection equipment, as well as fire protection systems, mainly addressing B2B clients. The Group also produces and distributes fire extinguishers and other fire safety equipment to smaller independent players. Eurofeu employs 1,850 people across its two production sites and its national network of 42 agencies. The Eurofeu group serves nearly 160,000 B2B customers and maintains an installed base of 4.2 million fire safety devices. For more information, visit www.eurofeu.fr

About CAPZA

Created in 2004, CAPZA is an established European private investment platform focused on small and mid-cap companies.

With €8.2 billion of assets, CAPZA puts its experience and passion for investing at the service of investors in Europe and worldwide with its platform of 6 complementary areas of expertise: Growth Tech, Flex Equity, Flex Equity Mid-Market, Private Debt, Transition and Artemid.

CAPZA offers financing solutions to small and mid-cap companies at every stage of their development. Its unique platform allows CAPZA to support companies over the long term by providing them with custom made financing solutions (majority equity, minority equity, subordinated debt, senior debt, etc.). CAPZA is a generalist but has built up strong expertise in supporting companies in the health, technology, and services sectors.

CAPZA Group has more than 100 employees based in Paris, Munich, Madrid, Milan and Amsterdam. For information, visit capza.co

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