Émeraude

France's leading player in the powder-coating of aluminium profiles has acquired its counterpart Silac. The acquisition was carried out by Émeraude Participations, whose two existing holdings are based Northwest France, i.e. SFPIin Fougères and TLV in Chavagnes-en-Paillers. SFPI was taken over in 1996 by Armel Reminiac and is now managed by its son, Philippe Reminiac. The arrival of Silac, based in Champlitte in Eastern France's Haute-Saône region, has widened the group's geographical footprint. The new-look group will have annual revenue of €45 million and 450 employees. Crédit Mutuel Equity, subsidiary of Crédit Mutuel Alliance Fédérale and a shareholder since 2005, is supporting this family-owned company with its major growth ambitions in France and Europe.

SFPI specialises in the powder-coating of aluminium profiles used in windows and verandas, and in industrial painting. It has grown through both acquisitions and organically, including regular investments in its production facilities. In that way, the company has steadily increased its production potential, while ensuring fast turnaround times and a convenient service for its customers, which consist of window manufacturers, carpenters and major clients. Alongside the head holding company's acquisition of Silac, SFPI is investing €3.5 million in a new powder-coating line and an expansion of its Fougères site.

"The market is growing rapidly, and moving into Eastern France enables us to diversify our assets and create new growth drivers. Silac operates in exactly the same business as us, but we have only one client in common, and so we are an excellent fit. This latest transaction is a major milestone, since it safeguards our independence and makes us more able to target growth in Europe, where the building market is flourishing," explained Philippe Reminiac, Chairman.

"When I bought SFPI, I wanted to instil a long-term vision so that this SME could become a leader in its sector. Crédit Mutuel Equity (formerly CM-CIC Investissement), our investment partner for 12 years now, has given me the confidence to develop the company, expand our activities and manage the process of handing over the reins to my son, so that the group can continue on its path while extending its reach," added Armel Reminiac.

"We are proud to support and advise this excellent company, with which we have developed a close, trusted relationship. By moving into a new region, the Émeraude group now has national reach, giving it the opportunity to make further acquisitions in the near future," emphasised Caroline Pasquet, Managing Director at Crédit Mutuel Equity.

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