23.04.2010 05:00:00
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Eurazeo will support French SME’s with the launch of "Eurazeo Croissance”:
Regulatory News:
Eurazeo (Paris:RF) intends to participate in the development of high potential French small and medium enterprises (SME’s) in need of capital to accelerate their growth, and today announced the launch of a dedicated activity, Eurazeo Croissance.
This new line of investment complements Eurazeo’s current strategy. Eurazeo plans to commit 500 million euros over five years in this activity. It will provide its expertise in supporting SME management teams in the deployment of industrial projects, particularly with regard to the financing and project management, whether through acquisitions or by extension of its own capacities.
Patrick Sayer, Chairman of Eurazeo’s Executive Board said: "We are proud to formally launch Eurazeo Croissance with this first investment in Fonroche, one of tomorrow’s leaders in the development of renewable energy in France. Eurazeo will perform its role as a professional, responsible shareholder in providing support for a rapidly developing SME.”
First investment by Eurazeo Croissance: supporting the development of Fonroche
Eurazeo is making the first investment of Eurazeo Croissance in Fonroche, a key player in France’s photovoltaic industry. The company was founded by Yann Maus, an entrepreneur who already has successfully created and developed two other companies.
Eurazeo will invest up to 50 million euros in equity in Fonroche: following an immediate initial investment of 25 million euros, Eurazeo has already committed to invest an additional 25 million euros before the end of 2011. The long-term support of Eurazeo Croissance will enable Fonroche’s continued development to respond to the strong market demand for installation of photovoltaic systems.
Fonroche’s activities cover the entire photovoltaic value chain, from design, fabrication and installation to systems management and maintenance.
The company:
- designs and fabricates photovoltaic panels: by the end of 2010, Fonroche will be France’s largest assembler of panels with an annual capacity of 90 MWc.
- installs turnkey building-integrated photovoltaic (BIPV) systems for professional clients;
- operates for its own use BIPV systems that it has installed;
- provides maintenance for BIPV systems;
- develops BIPV system sales and installation for individuals, directly or with franchisees, through the Habitat Solaire network.
Fonroche’s goal is to develop a portfolio of directly held BIPV systems of 300 MWc in the next three years and to become one of France’s leading producers of renewable electricity.
Fabrice de Gaudemar, Eurazeo Executive Board member responsible for Eurazeo Croissance, said: "We are very pleased to support Fonroche’s plans and fully share the company’s vision and ambition. Its development goals and overall approach focused on Sustainable Development are fully in line with Eurazeo Croissance’s investment philosophy.”
Yann Maus, founder and Chairman of Fonroche, added:
"We are pleased to be associated with Eurazeo. We will have the means to fully execute our business plan with Eurazeo Croissance’s commitment to provide us with strong, long-term support and its help in securing financing.”
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About Fonroche
Fonroche is a major player in the French photovoltaic industry. By the end of 2010, the Group will have annual photovoltaic panel production capacity of 90 MWc.
Ethics and sustainability are the strategic foundations for the Group and its employees. In terms of Sustainable Development, Fonroche is committed to optimizing its carbon footprint in photovoltaic panel production as well as contributing to the preservation of nature. As part of its commitment, Fonroche will plant one tree for each panel that it produces, representing more than one million trees over five years, establish educational programs and fight against deforestation in the Amazon through a Foundation.
www.fonroche.fr
About Eurazeo
With a diversified portfolio of nearly 4 billion euros in assets, significant investment capacity and a long-term investment strategy, Eurazeo is one of the leading listed investment companies in Europe. Eurazeo is the majority or leading shareholder in Accor, ANF, APCOA, B&B Hotels, Elis, Europcar and Rexel.
Eurazeo’s shares are quoted on the Paris Euronext Eurolist on a continuous basis (ISIN code: FR0000121121, Bloomberg Code: RF FP, Reuters Code: EURA.PA).
Eurazeo 2010 financial calendar
- First Quarter 2010 revenues will be released May 7, 2010
- The Shareholders Meeting will be held May 7, 2010
- First Half 2010 revenues and results will be released August 31, 2010
- Third Quarter 2010 revenues will be released November 10, 2010
For further information, please visit our website: www.eurazeo.com
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