25 May 2021
GAPAVE, the association which owns Apave Group (“Apave” or “the Group”), a market leader in the field of technical, environmental, human and digital risk management, announced today that it has entered into exclusive negotiations with PAI Partners, a leading European private equity firm. PAI would become a shareholder of Apave alongside GAPAVE, in order to support its development and external growth strategy. Following the transaction, GAPAVE would remain the Group’s largest shareholder.
For 150 years, Apave has evolved to meet major technological changes and advancements head-on, developing expertise in guaranteeing the safety of people, of goods, of production assets and of the environment. In a growing TIC (testing, inspection, certification) market that must integrate the challenges of digital, industrial and energy transitions, Apave’s ambition is to accelerate its development in a targeted manner to become one of the world’s top five sector leaders by 2025 in Industrial Goods/Manufacturing, Energy, Transport and Infrastructure & Construction.
This ambition is set out in the Group’s new 2021-2025 strategic roadmap, which was announced in February 2021. The roadmap is based on several fundamental pillars including performance, growth, innovation, and digital technology, and will enable Apave to become a global leader in the risk management industry.
PAI Partners’ support and expertise will enable Apave to accelerate its development in the sectors, specialities, and geographies it identifies as priorities. It will further help to finance external growth operations, and to undertake a sustainable transformation of the business to enable it to become a stronger, more customer-oriented, integrated, and innovative group.
“We are delighted to welcome PAI Partners, with whom we share mutual values of independence, professionalism and rigour, as a shareholder in Apave Group. Apave has set out on an ambitious roadmap and we are confident that we have found in PAI an ideal, long-term partner on this journey.” said Rémi Sohier, Vice-President of GAPAVE and Chairman of the Apave Group.
“I am pleased to be opening a new chapter in the Group’s journey. PAI Partners joining us as a growth partner should allow us to succeed in our development ambitions in France, as well as internationally. We now hold the key to achieving our objectives to become a global market leader, recognised by our customers for our know-how and the quality of our solutions.” added Philippe Maillard, CEO of the Apave Group.
“Apave is the French leader in the fields of inspection and technical training, as well as a key European player. We are pleased to be supporting Philippe Maillard and his team in this new stage of the group’s development alongside GAPAVE. Beyond our expertise in the field of business services, we wish to provide them with know-how and access to our network to allow external growth, in order to support Apave to become a global leader in the currently fragmented TIC market.” commented Laurent Rivoire, one of the Managing Partners of PAI Partners.
The transaction, which is subject to consultation with employee representative bodies and obtaining authorisations, should be completed by the summer.