Ciné Digital Service

Crédit Mutuel Equity, a subsidiary of the Crédit Mutuel Alliance Fédérale group, and Sodero Participations have been shareholders of Ciné Digital Service since 2002 and are reinvesting as part of the buyout by the group's two main executives, Cédric Aubert and Etienne Roux. Jean-Noël and Nicole Fagot, who have led the group for many years, will remain as chairmen and assist the transition. Ciné Digital Service is France's leading installer of cinema equipment. It generated revenue of €25 million in 2017, and it employs 69 people. Overall, its financial partners are investing €9.0 million in the transaction: €7.2 million for Crédit Mutuel Equity and €1.8 million for Sodero Participations. Together, Cédric Aubert, Etienne Roux, Jean-Noël Fagot and Nicole Fagot will retain a majority stake in the group.

Ciné Digital Service was founded in Chapelle-sur-Erdre in the 1950s. It has developed its business in the cinema equipment installation market and is now France's leading player in digital projection. With its national network, the group supplies equipment to more than half of French cinema screens.

Jean-Noël Fagot is now 58 years old and wants to secure Ciné Digital Service's future as well as giving the opportunity to two young managers - Cédric Aubert and Étienne Roux, who have been with the group for 9 and 5 years respectively - to continue its development, particularly in terms of technological innovation. Back in 2005, the transition from film to digital was an unprecedented challenge for the Nantes-based company. In the space of a few years, cinema operators moved over to digital projection using networked hardware (projectors, servers etc.). Although Ciné Digital Service's core business still consists of installing and maintaining projectors and sound systems, the switch to digital has prompted it to become a producer of software and a supplier of specialist products for cinema operators. The TMS CinéDigital Manager® solution, for example, allows users to manage their projections but also control digital signage (presentation of films, number of seats) throughout a multiplex.

"Innovation is central to our culture, but we also want to continue consolidating our network in France and step up our development abroad. We have started that process with the creation of the European economic interest group Unitia, which now features major sector players in Germany, Spain, the UK, Portugal, Poland and Italy," explained Jean-Noël Fagot. "We are proud to be able to count on solid partners like Crédit Mutuel Equity (formerly CM-CIC Investissement) and Sodero Participations. As they have done consistently for many years, they are again showing their trust in our plans, especially as part of the current managerial changeover, which I want to take place gradually. With their firm support, we can approach that process with great confidence."

"We wanted to continue supporting Ciné Digital Service because we believe in its development: it has always shown a great ability to adapt to a competitive and constantly changing market," said Stéphane Mentzer, Senior Principal at Crédit Mutuel Equity et Valérie Allain-Dupré, Principal at Sodero Participations. "The group's long-standing managers - Jean-Noël Fagot and his wife Nicole - and the new managers taking over from them are an excellent fit, and that will underpin its future success," added Romain Freismuth, Associate at Crédit Mutuel Equity.

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