Gimv acquires GSDI Group, the European leader in surface treatment and adhesive film application, to support its next stage of growth

27/01/2022 - 07:30 | Portfolio

Gimv acquires a majority stake in GSDI Group, alongside its founder and management team, in order to support its growth in the French and international rail market and to accelerate its development in new application segments.

Founded nearly 30 years ago by its current CEO, Jacques Coueffé, GSDI (Massy - FR, www.gsdi.fr ) specialises in the surface treatment and installation of technical adhesive films. The Group offers complete solutions for renovation, thermal comfort, protection and decoration to its customers, who are present in the railway, building and food sectors. GSDI relies on the largest installation force in Europe with 160 applicators, all trained internally in its approved training center. The Group, which benefits from structural environmental trends, such as the development of rail transport and the energy transition in buildings, has a turnover of more than 30 million euros.

The Group has a recognised know-how in the railway sector, where it has developed strongly in the recent years thanks to its unique and reputable technical expertise in the application of films, and its ability to manage large and complex projects. This has enabled GSDI to support its customers abroad by opening subsidiaries in Spain, South Africa and Poland.

Gimv's investment into GSDI's capital, alongside Jacques Coueffé, who remains an important shareholder, and the management team, will enable the Group to support its growth ambitions in the railway market, both in France and internationally, and to accelerate its development in new high-growth segments. GSDI plans to expand its presence in the building sector, with the installation of thermal films to improve the energy performance of existing buildings, and applications to  improve hygiene and safety in the food industry. Throughout this primary LBO, Gimv will also support the structuring of the GSDI Group.

Jacques Coueffé, CEO of GSDI, says: "I am very happy with the arrival of Gimv, which my team and I found to be the ideal partner to enable GSDI to accelerate its growth and strengthen its organisation. The real understanding we quickly established between us, and the desire to work together, were key elements in our choice. Gimv also demonstrated a thorough understanding of our challenges and how to meet them, as well as a real know-how in B2B services. We are therefore looking forward to this partnership.”

Nicolas de Saint Laon, Head of Gimv France, and Maxence Kasper, Principal at Gimv, declare: "We are delighted to be able to support the entire GSDI management team in this new phase. The company benefits from unique assets to pursue its growth in the railway market, where it is already a reference, and to strongly accelerate its growth in new segments. This primary transaction fits perfectly with our Sustainable Cities sector investment platform, supporting the transformation of a group benefiting from structural environmental trends, such as the development of rail transport and the energy transition in buildings. Our expertise in BtoB services will also allow us to support the structuring of GSDI in France and internationally.”

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