ACQUISITION OF SOFTAIR BY THE CESACAP GROUP
Cesacap Group enters the HVAC market with the acquisition of Softair
Paris – 10th of September – Four months after the arrival of Sparring Capital and Socadif Capital Investissement, Cesacap / Weecap announces its first external growth operation.
The Cesacap Group (recently rebranded Weecap), a major player in electrical engineering in the Ile-de-France region, is broadening its skills through the acquisition of Softair, a company specialised in HVAC engineering.
Based in Essonne, Softair specialises in the installation, maintenance and troubleshooting of heating, ventilation and air conditioning equipment. The company mainly operates in the Ile-de-France region, on renovation works of non-residential buildings. Founded in 2003, Softair registered a sustained growth over the last years, achieving over €10M revenues in 2018.
This operation allows Weecap to diversify its service offering by internalising an activity complementary with its core business while reinforcing its positions in the Ile-de-France region. This merger will also enable the newly formed group to position itself in tenders by combining the electrical and HVAC engineering packages and to offer additional services to clients of both companies.
As part of this operation, two of Softair’s three founders are reinvesting alongside Weecap’s management, Sparring Capital and Socadif Capital Investissement in order to support the Group’s continued development.
Franck Petit, Weecap Group’s CEO, states: « We are happy to welcome Softair’s team. This merger perfectly fits in our development plan and will allow Weecap to accelerate its growth by addressing new types of projects. »
Softair’s founders add: « Bringing together Softair’s and Weecap’s teams seemed natural to us, given the synergies that exist between our businesses. Moreover, we cooperated on two projects during the execution of the transaction, one of which has already been won by our teams. »
Johann Le Duigou, Partner at Sparring Capital indicates that: « This operation is a first step in the external growth strategy built with Franck Petit and Weecap’s teams and was performed with the active support of the Group’s financing partners, notably Omnes and Caisse d’Epargne Ile-de-France, as the group is currently working on new acquisition opportunities. »