Consumer goods & services
France FR

Scope of intervention

Sycomore Corporate Finance acted as financial advisor to Proxiserve and its management

Date of closing

October 2015

The management of Proxiserve has acquired a majority stake in company from Latour Capital, the France-based private equity and venture capital firm.

The management team was led by Stephane Caine, CEO of Proxiserve.

In December 2011, Proxiserve’s managers had chosen Latour Capital to accompany them in their MBO (spin-off of Veolia Environnement) and in the future development of their Group. Since then, the group realised 5 build-ups.

In 4 years, the management team, significantly developed all activities and significantly improved the profitability of the Company, particularly in the maintenance business that was in deficit.

Convinced of the remaining potential for development and profitability improvement, Latour Capital reinvested in a minority position alongside management and another minority financial investors entering.


  • Allow Proxiserve management to take control of the company
  • Enable Latour Capital to reinvest in the company as a minority investor
  • Support Proxiserve in its ambitious and credible development plan for the coming years

Proxiserve at a glance

France-based company specialised technical service solutions for the maintenance of heating and water distribution systems.
In 2015, Proxiserve reported revenues of €346m with a work force of 3,200 employees and a network of 25,000 clients.

Latour Capital at a glance

France-based private equity and venture capital firm investing between €20m and €60m in companies, based in France and Europe, with enterprise value between €30m and €200m.