Andera Acto, the historic shareholder of Passman, reinvest in a new round of financing. Siparex ETI becomes majority shareholder of the group
Passman, leader in networks management and digital solutions for hospitality establishments, will open up its capital to Siparex ETI as a new majority shareholder, allowing LBO France to exit. Andera Partners, the historic shareholder, will reinvest in this new round of financing, alongside the two founding directors, Frédéric Levy and Patrick Layani, and the principal managers.
Established in 1995, Passman is one of the leading providers of connected solutions in France and Belgium, mainly for hospitality establishments (traditional and open-air hotels) and healthcare establishments (EHPAD nursing homes, hospital institutions), as well as the military and retail sectors. Passman offers Wi-Fi, TV/IPTV, digital signage and other digital solutions for both its customers’ business needs and their end users. The group is positioned as a “one-stop shop”, offering over 6,000 establishments a tailor-made, multi-technology turnkey network management solution.
In recent years, with the support of Andera Acto, the group has expanded internationally and strengthened its position in the healthcare sector through the acquisition of two Belgian companies specialising in IPTV and digital signage solutions, Screen Services in 2018 and Taktik in 2021. The Group is also expanding its presence in the Climate Tech ecosystem through Pass Energy, the new IoT solution it has been developing for several years, enabling automated and centralised management of energy performance in establishments. Operational since the end of 2022, this innovative solution offers energy savings of 30% to 40%.
The Passman Group, run by its founders Frédéric Levy and Patrick Layani, has enjoyed uninterrupted growth for some fifteen years and is aiming for sales over €45m in 2023.
This majority shareholding by the Siparex ETI 5 fund will enable the Passman group to pursue its growth in its various markets, which are experiencing strong momentum, particularly in the traditional and open-air hotel sectors, and in healthcare establishments. Several acquisitions in Europe are also under consideration, as well as the roll-out of the Pass Energy solution in France and Belgium.
For Frédéric Levy and Patrick Layani : “ The Group is experiencing strong growth momentum, particularly with the potential of Pass Energy. The arrival of Siparex, with whom we have a long-term relationship, should enable us to accelerate on this trajectory ”.
For Florent Lauzet, Managing Partner of Siparex ETI : “ Passman enjoys a leading position in dynamic markets, with technical expertise and a growing service dimension. We intend to pursue a strategy of targeted acquisitions and, more broadly, to support management in the Group’s change of scale ”.
For Stéphane Bergez, Partner, Head of Andera Acto : “ Passman is a very successful group that Patrick Layani and Frédéric Lévy have developed both in France and abroad to become a key player in connectivity within hospitality establishments. Passman has benefited from Acto’s support for 9 years, and knows well the Siparex teams, having already invested between 2010 and 2019. Together we will be able to provide Passman’s teams with the best possible support and work towards the group’s growth ”.