The Winch Capital 3 fund is managed by EdRIP and LGT European Capital. It is now providing support to Scalian, a French equipment and industrial techniques group specialising in engineering and consultancy, to pursue its growth strategy through the acquisition of CMT+, a consultancy specialising in purchasing organisation and in project management auditing.
A new strategic step in development
Scalian is pursuing implementation of the plan it adopted in 2015 for developing its areas of expertise in France and abroad. This is evidenced by the acquisition in 2016 of Alyotech, a specialist in information systems and critical systems, as well as by the rebranding of the group (Eurogiciel became Scalian), and with the announcement of the CMT+ acquisition. With the stake taken by Winch Capital 3 and the arrival of Yvan Chabanne in March 2015, Scalian Group’s turnover doubled through both organic and external growth, reaching €150m.
Created in 2003 in Toulouse, CMT+ is a consulting firm specialised in purchasing organisation and project management control. With staff of 200, including many experts in purchasing, supplies, management control, e-procurement and organisation, CMT+ adapts its offer based on audits and guidance, project management and outsourced operations. In 2016, CMT+ had a turnover of 14 million euros. Established in France in Toulouse, Nantes and Paris, as well as abroad in Spain, Germany and in the United Kingdom, the company assists key accounts in the industrial and services sectors.
The acquisition of CMT+ strengthens Scalian’s capacities to innovate and to develop its dual positioning, not only in consultancy and appraisals but in operational support for its customers. As we continue to see strong growth in France and abroad, the Scalian group is now setting its sights on surpassing the 200-million-euro mark in turnover by positioning it as a benchmark partner in both of its major specialties,” remarks Yvan Chabanne, President of the Scalian Group.
The arrival of a new financial partner
When making the acquisition, Scalian relied on the support of LGT European Capital via the Crown European Private Debt II fund for strengthening the group’s investment capacity and development plan. Further, the Idinvest debt fund works alongside LGT European Capital as part of this single tranche financing that includes, in addition to the CMT+ financing, a capex line of credit for financing new acquisitions over the coming months.
“Since we took a stake in Scalian in 2015, the group’s development has received the support of its historical banking partners (CIC Sud-Ouest, Banque Courtois and Société Générale) and the Trocadero Capital mezzanine fund. Given the acceleration in the growth of the Group and its ambitions, the business plan required the support of additional financial partners. We are delighted by the arrival of LGT European Capital, joined by Idinvest, in the management of the group and our team,” explain Antoine Le Bourgeois and Laurent Tourtois, Associate Directors on the Winch team at EdRIP.
“We were particularly impressed by the progress made by Scalian management led by Yvan Chabanne since 2015. We are quite pleased to be able to support the acquisition of CMT+ by Scalian and the future external growth operations planned,” adds Stéphane Legrand, Partner at LGT European Capital.
A lever for growth and diversification
CMT+ has thus become a subsidiary of the Scalian Group (renamed Scalian CMT+) and reports to the Operational Performance centre. Stéphane Garo, currently General Manager of the Operational Performance centre, will be taking over this new subsidiary. Philippe Devaud, Marketing Manager at CMT+, has now been appointed Deputy CEO. Meanwhile, Thierry Briol, Founder and former PDG of CMT+, will be supporting the development of the group’s offers and the integration of CMT+.
“The CMT+ service offer will further strengthen the scope of Scalian’s activities and enhance its performance. Together, we will be able to build on perspectives linked to projects that are more comprehensive and complete in the industrial programmes and throughout the supply-chain. The integration of CMT+ will create a lever for growth and diversification through cross pollination of our customer portfolios,” explains Thierry Briol, Founder of CMT+.
“This acquisition is intended to complete the offer of our Operational Performance Division for its Purchasing and Financial Management businesses. It will allow us to pursue the development of more comprehensive offers with a yet more ingenious palette of skills and solutions dedicated to major international projects,” according to Stéphane Garo, Executive Director of the Operational Performance Division at Scalian.