14 April 2022

We are pleased to announce that on April 14th, 2022, Apax Partners acquired CEME Group, alongside Société Générale Capital Partenaires and BNP Paribas Développement, both long-standing investors who are renewing their commitment with this acquisition.

Founded in 1949 in Moulins (France), CEME Group is a proven leader in electrical and HVAC engineering and maintenance, with operations focused on energy optimisation processes for industrial, tertiary and residential buildings, mainly for private clients.

CEME Group is recognised for its strong technical capabilities, particularly for logistics warehouses and its solutions that meet all the electrical and HVAC needs of datacentres, managing complex projects that require best-in-class expertise. CEME Group has 700 employees across a network of 22 agencies and branches in France. With revenue of €125m, 1,600 projects completed in 2021 and more than 800 clients, the Group is a leading national and independent energy player.

With the backing of Apax Partners, Société Générale Capital Partenaires and BNP Paribas Développement, the company aims to continue its organic growth and step up its acquisitions strategy to support its regional development and complementary expertise (maintenance, automation, data wiring, energy efficiency and renewable energies).

The transaction will reorganise the shareholding structure, ratifying the exit of majority shareholder Azulis Capital and the Desbruères family, the Group’s founder, while ensuring the continuity of the established management team, headed by Jean de Vauxclairs. Some 60 partner-managers are investing heavily in this acquisition.

In the context of the transaction, Sycomore Corporate Finance acted as exclusive financial advisor to CEME Group and its management team.

The Sycomore transaction team comprised Pierre-Arnaud de Lacharrière, Tristan Dupont and Sébastien Richer.