Gimv invests in Acceo’s further growth alongside management
Gimv acquires a c. 60% stake in Acceo next to founder/CEO Stéphane Doré and management. Acceo is an independent French provider of inspection and certification services for buildings, with a focus on areas requiring specialist expertise such as elevator inspections, regulated accessibility audits and energy efficiency audits. Over the coming years, Acceo will be focusing on further profitable growth in France, penetrating new geographical markets and expanding into new business lines.
Founded in 2003, Acceo (www.acceo.eu) is an independent player active in elevator inspection and monitoring services, regulated accessibility audits and energy efficiency audits. The group also has a center of excellence for vertical transportation providing advice for elevator design in new and existing buildings. Its clients are property owners in the commercial or administrative sector (e.g. Unibail Rodamco, BNP, Allianz, EDF, Casino), municipalities or regional authorities, schools and universities, hospitals, social sector organizations, as well as property managers (e.g. Foncia, Citya, Nexity, Square Habitat). Headquartered in Gémenos near Marseille, Acceo operates a commercial network of 17 independently-managed agencies in France, Belgium and Spain. Over the years, the company was able to grow its revenues to EUR 18.4 million in 2015, driven by increasing regulatory requirements for buildings in the areas of safety, accessibility and sustainability. The ambition is to double the company’s size over five years by (i) strengthening its position in France, (ii) further geographical expansion, initially in Belgium and Spain, and (iii) expanding into adjacent services.
Gimv takes a c. 60% stake in the company by acquiring shares previously owned by Ekkio Capital (40%) and by providing partial liquidity to the founder and management.
Thomas Dewever, Partner in Gimv’s Sustainable Cities platform: "Property owners and managers are increasingly confronted with complex technical and administrative requirements to comply with safety and sustainability regulations. Acceo offers independent advice and specialist expertise to deal with these obligations and shoulder the burden for the customers. The company’s professionalism and proximity to its customers has resulted in strong customer loyalty and impressive growth. We are very happy to partner with an ambitious and entrepreneurial management team to build on this track record and continue Acceo’s growth in France and adjacent markets."
Stéphane Doré, CEO and Founder of Acceo: "We are very happy to have Gimv on board as a partner for this new phase in our development. We have ambitious plans to continue to grow our business in France and abroad. Gimv’s track record as a growth investor together with its European dimension will help us achieve these ambitions over the coming years."
Further financial details on the transaction will not be disclosed.