How did the Hasap group come about?
Pierre Haesebrouck: In 2006, after several years at Vuitton and a first online start-up, I wanted to try my hand at acquiring a company. Of the 50 companies that I was offered, it was Saga Agencement that caught my attention. The company specialised in interior fitting services for shops, and met all of my criteria: it operated in a sector in which aesthetics play a key role (it's easier to manage people when you're creating beautiful things), its work was both technical and service-oriented, and its market was local and not overly exposed to foreign competition. The same year, I also acquired Suscillon, a major player in interior joinery for service-sector clients. Since then, several other interior fitting companies have joined the group: CBA Montagne (luxury chalets and hotels), Burie Agencement (hotels from 1 to 4 stars) and Batimob (service sector). In 2013, we also set up a new company, Insight TCE, which is a general contractor.
What are the synergies between the group's various entities?
P.H.: Each company has its own production workshop, its own technicians and, naturally, its own site supervisors. However, the technical department and purchasing department, along with commercial development, are shared at the group level. This means that our developers can customise our service to meet each client's specific requirements. Our various units are a great fit in terms of expertise, but also production availability. This organisation makes us the only French group that can handle large-scale projects. Three of our companies are involved in fitting out rooms in the Cheval Blanc, the major new luxury hotel in Paris that will be part of the La Samaritaine complex. CBA Montagne and Saga Agencement are doing the fit-out work, and Insight TCE is co-ordinating them. Today, we can handle all aspects of a project, from design all the way through to artistic realisation, while keeping a firm grip on costs and ensuring feasibility, due to the technical experience of our production teams. Our ability to help clients design new premises is one of our main areas of growth.
Is Hasap planning to acquire any more companies?
P.H.: We currently work with various partners that supply metalwork and locks, which are important components in the custom construction industry. Our ambition is to bring these skills in-house, so that we can fully exploit the creative potential of these materials.
Do you have international ambitions?
P.H.: We help our clients with their international development. For example, we fit out Novotel hotels for the Accor group. This international activity takes place mainly in the luxury segment, because high-end services travel better. Since we worked on our first 5-star hotel, we have been involved in a dozen or so luxury hotels, and that has given us a high level of credibility.
You are currently chairman of France's national association of interior fitting companies. Why did you decide to take on that role?
P.H.: One of the main problems in our industry today is recruitment. It is increasingly difficult to find people who are adaptable and have the required technical knowledge. As a result, one of my aims is to develop training programmes and attract talent to our industry, which offers exciting opportunities and pays well.
What role does Crédit Mutuel Equity play in your business?
P.H.: It's a partner with which we've worked closely since we acquired Suscillon in 2006. It has supported our growth and structural development by investing in our capital increases and helping us to make acquisitions. Its long-term commitment is also shown by the fact that our contact people have stayed the same, which is pretty rare.
What the partner says
Crédit Mutuel Equity (formerly CM-CIC Investissement) has been supporting Hasap since 2007. The group has grown rapidly, driven forward by its boss, Pierre Haesebrouck, and its high-quality staff. It is now a leading player in its market and known for the quality of its work. After Crédit Mutuel Equity bought into Hasap, it has made four acquisitions that have bolstered its expertise and broadened the scope of its business. Crédit Mutuel Equity is an active partner, and has reinvested in Hasap in order to fund its development. We have put Hasap in touch with other companies in our portfolio and network, and provided it with our experience in structuring deals.
Hasap has four integrated workshops and total production space of 14,000 m2. The group is using its know-how to deliver excellence for its clients. That strategy relies on the skills and expertise of its teams, the quality of its management and its cutting-edge equipment, which mean that it can deliver unique, high-quality work.
Hasap now wants to make more acquisitions in order to add further skills and become involved in projects further up the decision-making chain.
Of course, that development strategy will take time to realise; as such, it ticks all our boxes as a long-term investor and fits with our desire to work with highly performing companies and people.
€49.0m of revenue in 2016
12000 m2 of production space in total