Case studies

  • Proprietes-privees.com
  • Nacc
  • Weecap

Invest in increasing digitization
of the real estate market

Sector

Real Estate

Negotiators

> 3 000

13 m€

Revenue 2016

> 50 m€

Revenue 2020

The operation driven by Sparring Capital alongside a new manager has led to a fivefold increase in the size of Propriétés Privées in 4 years.

Context

In a real estate transaction market which, due to the emergence of digital tools, is undergoing a profound transformation in favor of networks of agents, Sparring Capital is supporting the development of the Propriétés Privées Group, a pioneering network of independent negotiators, to make it one of the leaders in the sector.

The network, created in 2006, was taken over from its founder in 2016 with a new management team that has profoundly transformed it.

Particular efforts have been made in recruiting and developing the loyalty of the negotiators. In 4 years, the group has gone from 500 to more than 3000 negotiators. The multitude and relevance of the training and sales support tools developed and made available to negotiators, make Propriétés Privées the network with the best satisfaction and retention rate for its negotiators.

ESG

  • Social

    Formalizing commitments to diversity and equal opportunity

  • Governance

    Implementing a company policy and integration of anti-fraud and anti-money laundering measures in training plans

Sparring's contribution

As part of an ambitious growth project, Sparring Capital has resolutely supported the management’s growth project from the beginning of the handover of the operational management to the new team.

Financial engineering
serving growth in a structuring market

Nacc - Sparring Capital

Sector

Acquisition & collection of non-performing loans

Employees

77

12 m€

Revenue 2014

46 m€

Revenue 2018

The implementation of innovative financing solutions with Sparring Capital enabled the group to accelerate its growth through the acquisition of NPL.

Context

At the time of the acquisition by Sparring, NACC was one of the few historical independent players in the French market for the purchase of discounted loan portfolios (NPLs) from banks.

This market, which is in full development due to the various constraints encouraging banks to sell their NPLs, was not very mature in France compared to many other European countries.

In addition, due to the very high barriers to entry, its excellent reputation and the quality of its know-how, NACC had strong development potential in its market.

Thanks to the receivables financing solutions available from the day of the acquisition by Sparring, the group was able to triple in size in less than 3 years. NACC quickly reached critical mass, establishing itself as a key player in the French market, which has significantly increased the attractiveness of the group for international players looking to expand into the French market.

ESG

  • Social

    Measures to reduce turnover and improve working conditions (bonuses to reduce absenteeism).

  • Environment

    A proactive approach to dematerializing documentation and reducing the carbon footprint linked to inter-site travel.

Sparring Capital's key contributions to value creation

Strategic roadmap

Financing solutions available from day one to stimulate portfolio acquisitions and ERC growth (€60 million raised). An external growth transaction in the French overseas departments and territories to optimize collection procedures in these regions.

Structuring

Recruitment of a CFO and a chief accountant.

Tools and KPI

New reporting set up and change of ERP to improve the efficiency of collection procedures

Develop and diversify
a group in the most attractive area of ​​a fragmented market

Weetec - Weecap - Sparring Capital

Sector

Electrical engineering

Employees

289

49 m€

Revenue 2017

83 m€

Revenue 2020

Since 2019, Sparring has been supporting Weetec in a process of sector consolidation and diversification of its activities

Context

Sparring Capital has been supporting Weetec’s growth since 2019 and has quickly revived the group’s external growth policy. Indeed, in the 12 months following the investment, the group completed two operations enabling to grow from around €50M in revenues to nearly €80M.

Specialist in high and low voltage electrical engineering for 35 years, mainly in renovation work in the Paris region, the group has been able to diversify into HVAC engineering and strengthen its position in social housing.

In addition to external growth, the group has continued its organic development dynamic with the expansion of new offers adapted to the needs of its customers. By structuring a specific approach to address new segments, the group has also consolidated its quality positioning in the Paris region over the last few years in a variety of sectors.

ESG

  • Social

    Major efforts on safety in order to reduce the accident rate. Development of the employer brand to attract and keep qualified employees.

  • Governance

    "Ethics Code" already in place in the Group. Analysis of potential certifications.

Sparring's contribution

Sparring Capital has helped accelerate the group’s development through:

  • A strong involvement in external growth operations, initiated prior to the investment in the group’s capital. Pro-active sourcing and the implementation of adapted financing solutions allowed Weetec to strengthen and complete its positioning very early in the transaction cycle.
  • The emergence of a common brand facilitating the integration and the feeling of belonging of each entity to the same group and improving the attractiveness of Weetec in terms of recruitment and retention of talents.
  • The reinforcement of internal tools and procedures in line with Weetec’s strong growth and development strategy in order to improve the precision of the group’s management, notably in terms of synergy between the different entities.

At the same time, the group has initiated an ESG policy by developing a roadmap of priority themes for the coming years.