Mergers and acquisitions

Sale of BATI ETANCHE to BUILDTECH GROUP

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Industrials
Date
September 2024
Client(s)
Counterpartie(s)
Country
France
Cédric Beudin
Managing Partner
+33 (0)6 26 02 37 69
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GROUPE STANKIA, established through the merger of BATI ETANCHE ILE-DE-FRANCE and TEP ETANCHEITE in 2015, has been active in the waterproofing sector for over 40 years.

GROUPE STANKIA is a recognized player, specializing in waterproofing, insulation, and the safety of flat roofs. With its intervention teams, GROUPE STANKIA handles more than 600 projects annually, exclusively for B2B clients.

GROUPE STANKIA is among the few waterproofing companies operating both in the nuclear market (including power plants and research centers), serviced by its subsidiary TEP ETANCHEITE, and in renovation markets for public and private environments through its subsidiary BATI ETANCHE ILE-DE-FRANCE. This latter provides a comprehensive service offering, ranging from complex construction work to the maintenance of particularly sensitive sites, such as various CEA (Commissariat à l’énergie Atomique) facilities and the RATP. Based near Paris, BATI ETANCHE ILE-DE-FRANCE achieved a turnover of approximately €8.5 m last year.

As of today, GROUPE STANKIA only runs its subsidiary TEP ETANCHEITE and intends to explore medium-term liquidity options for this company, which specializes in operations within the nuclear sector. TEP ETANCHEITE is experiencing significant growth, driven notably by major investment programs dedicated to the maintenance of nuclear power plants across the country.

ATOUT CAPITAL advised CLECICAN Finance, the holding of the President Frank ADRIANSEN, SIPAREX ENTREPRENEURS, and VOLNEY DEVELOPPEMENT (the private equity subsidiary of CREDIT MUTUEL MAINE-ANJOU, BASSE-NORMANDIE), shareholders of this Group, in connection with this sale to BUILDTECH.

"SIPAREX, accompagné de VOLNEY DEVELOPPEMENT (Filiale de capital investissement du CREDIT MUTUEL MAINE-ANJOU, BASSE-NORMANDIE) et de la holding du Groupe STANKIA recherchions une équipe agile capable d'organiser sa cession. ATOUT CAPITAL a su créer une proximité forte avec le management qui a été déterminante pour assurer une cession sereine dans un secteur où les acteurs se connaissent bien. Leur agilité et leur réactivité - notamment au moment de redéfinir l'opération en envisageant un carve out de BATI ETANCHE (la filiale étanchéité civile BtoB du groupe) - ont été des atouts précieux pour mener à bien ce processus compétitif intégrant de nombreuses contreparties."
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Damien FULCHIRON
PARTNER - SIPAREX ENTREPRENEURS
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