About the deal
Investec has advised the Turenne Group and Thierry Le Guevel on the sale of Inaxe, a fast-growing French TIC services provider, specialized in sustainable building management, to Capza Transition.
Inaxe is a fast-growing TIC services provider with a revenue of €11m, specialised in sustainable building management. The Group provides property owners and managers with TIC services and technological solutions to ensure the compliance of their assets, improve their performance, and enhance sustainability. Inaxe’s service offering includes technical diagnostics (asbestos, lead, energy performance, etc.) and a range of value-added complementary services to support clients from initial diagnostic to the implementation and management of rehabilitation solutions.
Inaxe, which has forged strong partnerships since its inception with major French social landlords, has progressively expanded its services to industrial and tertiary clients. The Group has enjoyed rapid, profitable growth over the last decade thanks to a sustainable development model based on strategic positioning in attractive and complementary market niches, an industrialised and highly digitised operational model, strong long-term contractual commercial relationships offering significant cross-selling and upselling opportunities, and proven expertise in recruiting, training, and retaining multi-certified technicians.
This new LBO transaction, structured around Inaxe’s two executives, Cédric Audo and Sébastien Taddia, is supported by Capza Transition, which is investing alongside Thierry Le Guevel, the founder and former majority shareholder of the Group.
Future growth will be driven by four key initiatives:
- Expanding the private client base,
- Geographical expansion within France,
- Sales initiatives to promote the premium service offering,
- Development of new services targeting high-potential niche markets emerging from regulatory changes.
Our role
Investec supported Inaxe’s shareholders throughout the entire process:
- Designing a robust equity story and defining the deal strategy,
- Drafting the marketing documentation,
- Assisting management in drafting the business plan,
- Qualifying financial investors,
- Organising a structured and competitive process,
- Coordinating the due diligence process,
- Taking part in final negotiations to optimise the terms and conditions.
“Thanks to its deep understanding of the company’s challenges, its market and the requirements of PE funds, Investec played a key role in the success of the INAXE/CAPZA transaction”
Thierry Le Guevel, CEO, Inaxe
“We were looking for an M&A team with expertise in TIC to support the Inaxe Energie & Environnement team in its secondary LBO. The Investec team stood out for its deep industry expertise, thorough knowledge of LBO counterparties, and close relationship with the management team.”
Stéphane Saudo, Partner, Turenne Emergence
