TSL Express Daily News

Eiffel Investment Group has announced a new financing of €60m to support in its growth plans Fives, an international leader in industrial engineering. This new financing is part of the "Obligations Relance" scheme initiated by France Assureurs and Caisse des Dépôts.

From the first railway lines to the Eiffel Tower lifts and Industry 4.0, for over 200 years Fives has been imagining the disruptive solutions and technologies that make up industry. Fives represents today an international leader in industrial engineering with multi-sector expertise. The Group designs and builds machinery, process equipment and production lines for the world's leading industrialists.

With a presence in 25 countries and more than 8,500 employees, Fives has exceeded the €2 billion turnover and has achieved all-time orders record of €2.8 billion in 2022.

To support the growth of its business and accelerate its R&D investment strategy in decarbonised technologies and digital solutions, Fives has recently subscribed to a €60 million financing from Eiffel Investment Group in the form of Obligations Relance. This financing includes 3 extra-financial objectives defined in collaboration with the Group, relating to the reduction of greenhouse gas emissions, the reduction of the frequency rate of accidents at work and the increase in the rate of employees benefiting from training (beyond the regulatory framework). "As a pioneer in the digitalisation and decarbonisation of industry, our Group uses its technological leadership to help its customers combine economic and environmental performance. This new financing will enable us to accelerate our investments in this area and strengthen our position," says Suresh Abye, Chief Financial Officer of the Fives Group.

This transaction was carried out as part of the "Obligations Relance" scheme, illustrating the relevance of this programme, which is designed to increase the ability of French SMEs to bounce back and grow. Nearly €350m have already been invested by Eiffel Investment Group teams in the programme.

The Obligations Relance France fund is one of the components of the Recovery Plan of the Ministry of the Economy, Finance and Recovery, created after the health crisis by France Assureurs and Caisse des Dépôts, in cooperation with the French Treasury. It benefits from a partial government guarantee. Initially endowed with €1.7 billion by 19 insurers and members of France Assureurs, Caisse des Dépôts and the fund's managers, it finances SMEs investing in their development and transformation. Following the successful deployment of the first tranche, some of the investors have decided to deploy a second tranche of €1.1 billion, bringing the total to almost €3 billion. The Obligations Relance have a term of eight years and are redeemable at maturity. They offer SMEs subordinated financing without a guarantee from the company, which can be obtained from the management companies delegated to manage the fund.

Antoine Maspétiol, Head of Private Debt at Eiffel Investment Group, concludes: "Fives is a perfect example of the type of company we target with Obligations Relance: a French flagship, an international leader in its businesses, with ambitious growth plans requiring appropriate long-term financing. Furthermore, we have been able to set ambitious CSR targets with Fives, illustrating the role of Obligations Relance as an effective lever for accelerating the decarbonisation of the French economic fabric".

*The Obligations Relance fund is a specialised professional fund. It is strictly reserved for institutional investors.

About Eiffel Investment Group

Eiffel Investment Group is an asset manager with over €5.5 billion in assets under management. Its clients are major institutional investors (insurers, mutual funds, pension funds, banks, large family offices, public investors, etc.), as well as retail investors via distribution networks.

Backed by the Impala Group, owned by entrepreneur Jacques Veyrat, Eiffel Investment Group cultivates strong industrial expertise, particularly in the field of energy transition, but also in healthcare, agri-food, digital technology, and so on.

The Group finances companies and their assets through four main strategies: private debt, private equity, infrastructure for the energy transition, and listed equities and credit.

Eiffel Investment Group invests for a sustainable world. Its investment strategies aim to generate not only strong financial performance but also positive impacts on the environment and society.

The Eiffel Investment Group team counts around 100 talented employees in France (Paris), BeNeLux (Amsterdam), the United States (New York) and the United Arab Emirates (Abu Dhabi).

Press contact: Samuel Beaupain - +33 (0)6 88 48 48 02 - samuel@edifice- communication.com