Industry
N.D.
France FR

Scope of intervention

Sycomore Corporate Finance acted as exclusive financial advisor to Chequers Capital, Didier Namy and the other selling shareholders on the disposal of Group Altema to the consortium led by Siparex ETI, alongside Arkea Capital

Date of closing

on going

Chequers Capital, a leading European private equity house, has agreed to sell Group Altema, a leading French hyper-specialist distributor in metal solutions for Building Envelope and Wood Heating Systems, acting as a key player in sustainable construction and energy transition, to the consortium led by Siparex ETI, alongside Arkea Capital..

Rationale

  • Accompany the Group in the next phase of its development in France and pursue network expansion in France, both through organic and external growth
  • Benefit from new financial resources that will allow Altema to continue to strengthen its product offering and pursue its industrial investments in order to meet growing demand

Group Altema at a glance

Founded in 1869, Altema, formerly known as Group Hild, is a leading hyper-specialist distributor in metal solutions for Building Envelope and Wood Heating Systems, acting as a key player in sustainable construction and energy transition. Thanks to its attractive product offering, Altema is positioned at the crossroads of building energy efficiency and energy transition, contributing to reduce energy consumption of individual and collective housings as well as services and industrial buildings.

Altema boasts an efficient national distribution network of 40 branches under the banner Altema with strong regional footholds and services, thanks to its hyper-specialist positioning, a large customer base of over 12,000 construction independent craftsmen (incl. roofers / carpenters / plasterers / plumbers / heating engineer).

Based in Jebsheim, Alsace (France), the Group operates three modern manufacturing facilities located in Alsace and Haute-Savoie. In 2021, the Group recorded revenues of €240m and employed over 700 employees.

Chequers Capital at a glance

Founded over 50 years ago, Chequers Capital is one of the leading private equity investment firms in continental Europe.

Operating throughout the entire industrial, services and distribution sectors, Chequers capital focus on majority and minority investments in growth companies in France, Germany, Switzerland, Italy, Benelux and the Iberian Peninsula. Since inception, Chequers Capital conducted over 300 investments and aims to be a strategic partner investing alongside management teams.

In 2017, Chequers Capital raised €1.1bn for its current 17th investment vehicle and holds today a portfolio of 20 investments. The firm numbers 23 experienced investors from 6 nationalities.

Siparex ETI at a glance

Siparex Group is one of France’s leading independent private equity firms operating as a key partner to SMEs and SMIs, as well as to start-ups. The firm manages today around €3bn of assets under management through its various vehicles.

Siparex Group relies on a strong national presence in the French territory, with 6 regional offices (Paris, Lyon, Nantes, Lille, Strasbourg, and Toulouse) ensuring strong coverage. In addition, the firm is present in 4 European major cities (Milan, Munich, Berlin, and Brussels), and has established partnerships in Africa and North America.

Siparex ETI, operates along French and European growth-oriented midmarket companies looking for a committed and core financial partner focused on supporting managers on their growth project, while respecting their values and corporate culture.

Siparex ETI manages over €800m of assets under management and invests as a minority or majority shareholder in companies.

Arkea Capital at a glance

Arkéa Capital, the investment arm of the French bank Group Crédit Mutuel, operates as a minority shareholder, long-term investor, in French companies ranging from start-ups to SMEs, at all stages of their development.

Founded 40 years ago, Arkea Capital is a leading regional financial investor in France, thanks to 7 regional offices (Brest, Nantes, Paris, Rennes, Bordeaux, Strasbourg and Lyon) ensuring a strong coverage of the French territory.

Arkea Capital operates through 8 complementary investment vehicles: Arkéa Capital Investissement, Arkéa Capital 2, Breizh Ma Bro, Arkéa Capital Partenaire, Arkéa Capital Managers, Breizh Armor Capital, We Positive Invest and We Positive Invest 2.

The firm holds minority stakes in over 100 companies in France and manages over €1.2bn of assets.