Industries & Finances Partenaires has raised EUR135m for a third new fund specialising in SME Buy & Build strategies.
Industrie & Finance Investissements 3 has exceeded both its EUR125m target and Fund 2 (EUR110m).
The fund’s largest LPs include CDC Entreprises, CNP Assurances, Idinvest, Axa France, Akina and EIF.
Sixty per cent of commitments are from LPs outside France.
A statement from Industries & Finances Partners says: “The success of this fund‐raising, despite difficult market conditions, is the result of the team’s unique strategy, which it has followed since inception, with the support of loyal LPs. We believe we are the only French team and one of a handful of European firms with a dedicated focus on Buy & Build strategies. Our Buy & Build strategies not only create a lot of value for investors, but also contribute to the French economy, enabling the creation of strong intermediate‐sized enterprises (ISEs) from the consolidation of carefully‐selected SMEs.”
Industrie & Finance Investissements 3 will build on the successful strategy followed by previous funds. Alongside experienced management teams, the fund will take a majority position in companies valued up to EUR50m which operate in fragmented sectors. Industries & Finances will pursue a Buy & Build strategy, driving the company’s growth into an ISE.
The partners of Industries & Finances have extensive experience of working with companies, particularly industrial companies, and will make their expertise available to support portfolio companies as they carry out ambitious growth projects.
