ISP System

From its bases in Vic-en-Bigorre and Mérignac, ISP System designs, assembles and sells high-precision equipment and technologies for high-tech industries. Its €4 million capital increase reserved for Crédit Mutuel Equity, a subsidiary of the Crédit Mutuel Alliance Fédérale group, will enable it to take its growth strategy to the next level, with the main focus on North America. ISP System already generates 25% of its business from export markets, primarily in Europe.

ISP System was founded in 1996 by Paul Sauvageot, a graduate of France's elite Arts et Métiers engineering school, at a time when precision robotics was still a frontier research field. Since then, the company has grown rapidly because of increasing demand among manufacturers for technological expertise in the high-precision field. ISP System now has a team of 80 people in a variety of disciplines, including 30 engineers and PhD graduates with expertise in a diverse range of fields such as aeronautics, space, defence, lasers, optical, nuclear, automotive and rail. ISP System is generating double-digit annual revenue growth, and is on track to achieve €20 million of revenue eventually.

Every year, it manages more than 40 projects involving innovation/R&D processes, and it has developed a portfolio of 12 technological patents through its ongoing R&D efforts, on which it spends around 10% of its annual revenue. In addition to its main business involving the design and industrial production of micro-positioning, mechatronic and laser-specific optical equipment, the company also sells a range of precision robotics, laser brazing and sintering machines and embedded electrical actuators. As a result, it has unique expertise in high-precision technologies, and it has developed very close ties with its customers.

"We are proactively looking for new sources of growth outside France, and particularly in North America. To achieve that, we decided to seek the backing of a trusted partner in the form of Crédit Mutuel Equity (formerly CM-CIC Investissement), which has the expertise and presence in that region to help us achieve our ambitions," explains Paul Sauvageot, CEO. "Our aim is to set up a unit in North America that will provide a local response to our clients' needs and help extend our commercial reach, including through acquisitions."

"ISP System has rare technological expertise in the high-precision field, as acknowledged by its numerous top-tier industrial customers. The rapid build-up of its business, supported by long-term contracts and the launch of game-changing products such as its nano-positioning stage, persuaded us to support ISP System with its development plans, particularly outside France," added Alexandre Joubert, Principal at Crédit Mutuel Equity.

Key figures

Vic-en-Bigorre site: 16,700 m² of which 4,500m² is used for production and development activities and including: 2 ISO5-ISO7 cleanrooms, 2 dust-free rooms, assembly workshops, measurement rooms, research laboratories and a design office.

Mérignac site: located close to strategic clients such as the Laser Mégajoule programme. Because of growing business levels at ISP Aquitaine, the company will move to a new site in Pessac in 2017.

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