GENEO Capital Entrepreneur supports PINETTE P.E.I.
In order to support its ambitions for international external growth and the commercialization of its innovations, the PINETTE P.E.I. group is investing in the investment company GENEO Capital Entrepreneur, which specializes in supporting SMEs with high growth potential, in addition to GEI and Demeter through the European Materials Fund (EMF), which have been present in P.E.I.'s capital since 2016 and which are accompanying the operation.
A successful transformation
With a 150-year history, PINETTE P.E.I. is an industrial engineering group, world leader in composite parts forming equipment, test and assembly benches. P.E.I. innovates, designs and delivers turnkey lines and plants to technical and industrial centres worldwide in the aeronautics, space, defence, automotive and energy sectors. The PINETTE P.E.I. group also includes the Jean Perrot brand, a manufacturer of custom-made, large-format folding machines for sheet metal working.
Jérôme Hubert, who took over this company founded in 1863 in 2011, has developed it into an engineering company at the forefront of innovation.
Innovation and international development: 2 growth drivers for PINETTE P.E.I.
Already very active in exports (more than 65% of its turnover), the Burgundian industrial engineer wishes to accelerate its internationalization through external growth in Europe and the United States.
In recent years, the manager and his teams have developed strong innovation skills, enabling the implementation of new patented technologies that have won several international awards. P.E.I. has established many partnerships with research centres. Its latest innovation, QSP, co-developed with CETIM, revolutionizes the industrial processes of composite forming by allowing production at high speed and without material loss. It is particularly aimed at the automotive and aeronautical sectors.
Through these two levers, and after a year 2018 that has enabled it to reach €28 million in revenue and to generate a historic order book, P.E.I. aims to double its revenue to €50 million by 2023.
The choice of "entrepreneurial capital
Following on from the work carried out with GEI and the GEF since 2016, Jérôme Hubert has chosen GENEO capital entrepreneur to strengthen its governance and support it in the implementation of this growth strategy.
By providing managers with real "entrepreneurial capital", GENEO wants to give managers the means to achieve their ambitions. To this end, GENEO capital entrepreneur is structured as an investment company and provides "evergreen" capital capable of adapting to the company's natural cycles and helping it to seize opportunities, particularly acquisitions, at any time. The "Carnet de croissance" of P.E.I., co-constructed with the manager and co-investors, organizes the support to the execution of the company's strategy, which will benefit from the GENEO expert platform and the GENEO Community (more than 70 entrepreneurs and families, long-term builders, who share experience and network).
Jérôme Hubert, President of PINETTE P.E.I.: "The development of the last five years has been devoted to the promotion of our innovations. After this phase of organic growth and strong growth from our new financial and entrepreneurial partners, P.E.I. is moving into a new phase. Our teams want to bring ever more value to our industrial customers through a more complete and global offer. We are determined to achieve external growth in Europe and North America. »
François Rivolier, Co-founder of GENEO: "The entire GENEO Capital Entrepreneur team is proud to support PINETTE P.E.I., an innovative player in French industry, in its growth project, with a clear focus on excellence, internationalisation and acquisition. P.E.I.'s innovation portfolio is impressive, and QSP technology in particular should be a great accelerator. The Growth Booklet, co-built with Jérôme Hubert and our partners, was tailor-made to support him in this beautiful ambition. »
Frédéric Dubuisson, Co-Founder Partner of GEI: "PINETTE P.E.I. was the last investment of our first fund, and given the time and resources required to achieve P.E.I.'s strategic objectives in the medium term, we have chosen, with Jérôme Hubert and the FEM, to anticipate the opening of the capital and to bring in a new reference shareholder. We have chosen a new shareholder who shares our entrepreneurial values and supports the strategy led by P.E.I. We are very confident in supporting this new phase of P.E.I.'s growth through an investment from our second GEI fund.
Laurent Bocahut, partner at Demeter in charge of GEF management, adds: "We are delighted to continue to support PINETTE P.E.I.'s international expansion over the past few years, led by Jérôme Hubert and his team. With GENEO's arrival at the round table and the renewed support of GEI and the GEF, P.E.I has the resources to match its ambitions to seize the development opportunities that will undoubtedly arise in France, Europe or beyond. It will be a pleasure and an honor for Demeter to contribute to this with the GEF! »
About the PINETTE P.E.I. group
The PINETTE P.E.I. Group, which has 120 engineers and technicians, is the world leader in composite parts forming equipment, test and assembly benches. P.E.I. innovates, designs and delivers turnkey lines and plants to technical and industrial centres worldwide in the aeronautics, space, defence, automotive and energy sectors. The P.E.I. group also includes the Jean Perrot brand, a manufacturer of custom-made, large-format folding machines for sheet metal working.
It creates value in its global markets through innovation, global intervention and integration, services and expertise. P.E.I. is a member of Bpifrance Excellence and many international networks.
P.E.I. is committed to a global approach of social and environmental responsibility and has obtained a GOLD Ecovadis medal.
More information: www.pinetteemidecau.com - www.jeanperrot.eu
About GENEO Capital Entrepreneur
GENEO Capital Entrepreneur is an investment and support company, which supports French and Benelux SMEs and ETIs in their development capital projects and family or managerial transfers. It takes minority stakes in the capital of companies with a minimum turnover of €10 million and an operating profit of at least €1 million, which are mainly held by the managers and/or their families. It can invest between €1 million and €15 million per company, in the form of shares or quasi-equity instruments. The form of company (rather than fund) makes it possible to control time and implement long-term strategies.
Each invested company benefits from a personalized support path, co-constructed with the manager, which takes the form of a Growth Booklet that can be supported by specialized experts from GENEO's expert platform.
GENEO also capitalizes on the experience of its team and the support of 55 entrepreneurs or families, convinced of the interest of "entrepreneurial capital" and allowing the sharing of experience and business networks. Its capital is already endowed with €130 million and the investment company is constantly raising funds to expand the GENEO Community.
Giving each generation the means to achieve its ambitions is the GENEO commitment!
More information: www.geneocapitalentrepreneur.com
About GEI
With more than €150m, GEI is an independent investment fund, mainly subscribed by entrepreneurs, who bring their sector or business expertise to the managers of the holdings. Based in Nancy, Strasbourg and Lille, the fund acts as a majority or minority shareholder, for unit amounts ranging from €3 million to €15 million. Without an exclusive sectoral approach or dogma in the use of the funds provided, the investment strategy consists in supporting profitable and growing SMEs and TWAs in development or transmission contexts. Interventions are tailor-made, with a focus on aligning interests between managers and investors.
More information: www.fonds-gei.com
About DEMETER and the EGF
Demeter is an independent management company specialising in the management of private equity funds dedicated to the environment (water, waste, air, soil) and energy transition sectors (renewable energies, energy efficiency, clean transport). Demeter manages €1 billion around 3 divisions covering the entire private equity value chain: Innovation (financing start-ups), Growth Capital (financing SMEs & ETIs) and Infrastructure (project financing). Demeter has already invested in more than 130 companies and infrastructure projects in the environmental and energy transition sectors.
Demeter also benefits from a strong European presence, with offices in France (Paris - Grenoble - Metz), Spain (Madrid) and Germany (Munster), as well as partnerships with Cycle Capital investment funds in Canada and eCapital in Germany, giving it a real international dimension.
The European Materials Fund is a private equity and development capital investment fund active in Industry and Industrial Services in France and Benelux. With an investment capacity of between €1 million and €3 million per operation, the GEF supports the growth of entrepreneurs in the Materials & Processes industrial sectors (Metals, Plastics, Composites).
More information: www.demeter-im.com
Press Contacts :
PINETTE P.E.I. : Jérôme Hubert (jerome.hubert.alliancetec@gmail.com)
GENEO Capital Entrepreneur: François RIVOLIER (francois@geneocapitalentrepreneur.com ; 06 88 27 23 15) and Fanny LETIER (fanny@geneocapitalentrepreneur.com ; 06 19 35 74 59)
GEI: Frédéric Dubuisson (fd@fonds-gei.com ; 03 83 32 32 48 37)
Demeter (FEM) : Laurent Bocahut (laurent.bocahut@demeter-im.com ; 03 72 39 39 10 65)
Speakers :
GENEO Capital Entrepreneur (Fanny Letier, François Rivolier, Rodolphe Vernazza), GEI (Frédéric Dubuisson, Pierrick Jeannot), Demeter (Laurent Bocahut), P.E.I. Financial Advisor: Canaccord Genuity (Christian Menard, Erwan Robertet), P. Legal AdvisorE.I. : Lamartine (Olivier Renault, Bintou Niang, Aude Marcheux), VDD : Grant Thornton (Laurent Prost), Investor Legal Counsel; Duteil Avocats (François Duteil, David Merlet, Benoît Lespinasse), Investor Financial Audit : Next! (Hervé Krissi, Victor Reveret).
Financing :
LCL (Dirk Weinand, Aurelia Bojmal)
Download the press release (French version, PDF, 165 k)
Download the press release (English version, PDF, 145 k)