BTC Group (owner of Piazza Coffrages) takes control of the FET BTS group. Septentrion Finance advises the buyer and arranges the financing
26/11/2019
BTC Group (owner of Piazza Coffrages, specialist in the rental of HUSSOR brand formwork) doubles in size by taking control of the FET BTS Group (specialized in the rental of surveying and trench shoring equipment).
FET BTS Group, the second-largest French player in the sale and rental of trench shoring and surveying equipment, has changed hands. Laurent VASSAUX, 57, founder of FET BTS Group, has chosen Nicolas PORICHE to succeed him in leading the group, which now employs nearly 20 people. Primarily active in Île-de-France, Normandy, Moselle, and Luxembourg, FET BTS generated close to €7 million in revenue in 2018 and is experiencing around 10% growth in activity in 2019.
As the exclusive distributor of the SBH and TWF brands, FET BTS owns a significant fleet of over 6,900 equipment units, enabling it to supply an average of 200 active sites simultaneously to meet the demands of its numerous clients.
Nicolas PORICHE, who has also been leading PIAZZA Coffrages Solutions since his MBI acquisition in 2017, aims to accelerate the development of FET BTS by pursuing an intensive investment policy in shoring equipment and expanding associated new services.
"Our goal is to develop a local network with our clients to support them in all their projects. We plan to quickly open two new agencies and strengthen our sales force by hiring several technical sales representatives," explains Nicolas Poriche.
To accelerate the growth of his Group, Nicolas Poriche took advantage of this operation to reinforce equity capital by relying on his historic investor partners (Bpifrance Investissement and FINORPA), who were joined on this occasion by the RE-SOURCES CAPITAL fund. It should also be noted that the operation was supplemented by senior debt arranged by BNP PARIBAS with support from Banque Populaire du Nord and CIC Nord-Ouest. Thanks to this strengthened financial structure, the Group will be able to implement a robust five-year investment plan and seize external growth opportunities as they arise.
Following this major external growth operation, BTC Group (the parent holding company consolidating Shoring, Surveying, and Formwork activities) will achieve nearly €14 million in revenue from 2019 onwards. As part of this strategic operation, the Group is also strengthening its team with the arrival of Dorothée DUPREZ as Group Chief Financial Officer.
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Buy-side advisors:
- M&A: Septentrion Finance (Guillaume Dubois)
- Legal: Cabinet Theret (Edouard Theret, Idaline Le Granvalet)
- Due diligences: Mazars (Eddy Bertelli, Lucie Rasoanaivo)
- Financiers (equity): Bpifrance Investissement (Gabrielle Tétart, Vincent Stievenard), FINORPA (Isabelle Spender) et RE-SOURCES CAPITAL (Matthieu Billoir)
- Financiers (banks): BNP Paribas en qualité d’Arrangeur (Séverine Menuge, Benoit Defrenne) et en tant que Participants la Banque Populaire du Nord (Martin Descamps, Amina Maniche), le CIC Nord-Ouest (Nicolas Armengaud, Jason Labruyère) et Bpifrance Financement (Cindy Baesen)
Sell-side advisors:
- M&A: Eurvad Finance (Jonathan Melloul, Martin Klotz),
- Legal: Dénovo (Jean-Noël Couraud)