A long-standing client of Crédit Mutuel, the Breton company Aluvair (TO €6.5 million, 40 employees) specialises in designing, manufacturing, and installing custom aluminium joinery (façades, glass curtain walls, glass roofs…) for various types of architectural projects. It targets only professional clients: property developers, general construction companies, tradespersons, colleagues (for subcontracting).
Thanks to the contribution made by Crédit Mutuel Equity to Aluvair’s capital, complemented by a bank funding led by CIC Ouest, the company was able to purchase Tellier, a leading French player in the field of curved aluminium joinery, based in the Maine-et-Loire department. They were put in contact by Xavier Lionnet, Director of the branch Entreprises Nantes Nord Loire of Crédit Mutuel. “The synergies developed between various departments within Crédit Mutuel Alliance Fédérale represent a real added value for the solutions we are able to provide our clients,” he commented.
Expansion and diversification
Created in 1987, Aluvair was taken over in 2013 by Olivier Brun and Rémi Jodeau, two dynamic engineers with complementary profiles, aiming at a turnover of €25 million within 5 years.
Pairing equipment manufacturing and components trading
“With this first acquisition, Aluvair can expand its range of services, while preserving a specific know-how. It can also optimise its procurements through economies of scale,” explained Romain Freismuth, Principal for Crédit Mutuel Equity in Nantes. “At the same time, installation-related risks on work sites are reduced, since Tellier joineries are sold ready-to-install. This is a very sensible strategy.”
Crédit Mutuel Equity has taken a stake in Aluvair, having good knowledge of the custom industrial joinery market, through previous investments made in this sector. The company will be able to capitalise on this expertise, when studying new external growth opportunities.