Septentrion Finance has advised Hall U Need on its latest fundraising round
20/06/2024
Bpifrance and Picardie Investissement support Hall U Need in its expansion across France
Bpifrance and Picardie Investissement are backing Hall U Need, a multi-activity indoor dining, bar, and leisure complex, in its opening of new locations throughout France.
Hall U Need is an innovative French concept inspired by North American "Eats and Entertainment" complexes, offering multi-leisure indoor sites.
The first venue, launched in June 2021 in the Lille metropolitan area, has a capacity of 1,650 people over 7,000 m². It features a 500-seat restaurant-bar, a 320-seat terrace, and numerous classic activities (bowling, karaoke, arcade games, and a children’s play area) alongside some unique experiences in France.
Following the success of this initial Lille site, which has welcomed over 1.7 million visitors, Hall U Need plans to expand its concept across France, targeting major metropolitan areas. The goal is to provide an intergenerational B2C and B2B clientele with a warm and welcoming environment for relaxation and entertainment year-round.
To support this growth, Cyril Parenna sought trusted long-term investors and initiated a new fundraising round with Bpifrance, a longstanding investor in the group, and welcomed Picardie Investissement as a new shareholder.
Cyril PARENNA, Founder and CEO of Hall U Need, said: "This second fundraising round comes three years after the opening of our first complex and marks a new milestone in our development. This operation will allow us to open two new sites in 2025: one in the Paris region (Lieusaint, 77127) and one near Lyon (Saint-Priest, 69800). Bpifrance and Picardie Investissement provide strong support to help us pursue our ambitions."
Gabrielle TETART, Investment Director at Bpifrance, added: "We are pleased to renew our support for Hall U Need through our France Investissement Tourisme 2 fund. This unique concept in France, highlighted by Cyril Parenna’s overall strategy, convinced us. Hall U Need now has the financial means and effective governance to confidently expand throughout the French territory."
Jean d’ORSETTI, Investment Officer at Picardie Investissement, said: "We are delighted to support Cyril Parenna and his teams, whose dynamism, demonstrated by the success of the first establishment in Saint-André-lez-Lille, convinced us. Hall U Need now has all the tools necessary to roll out its concept in new locations."
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Sell-side advisors:
- M&A: Septentrion Finance (Thibaut Bouchoir, Rudy Sebbah, Amélie Crépin)
- Legal: Euraconseil (Bertrand Decaudin)
Investors advisors :
- Legal: ABPM (Guillaume Defrance, Jean-Philippe Flamand)
- Financial, legal and tax due diligences: Grant Thornton (Jérôme Lesage, Vincent Delfosse, Jean-François Blaret)