Following excellent results in 2021, the Airvance Group has confirmed its strategy for growth and is paying off its debt early
The Airvance Group posted consolidated revenues of €505M in 2021, up 20% on 2020, and showed strong improvement in profitability. These excellent results have enabled the Group to arrange the exit of its financial investors, EMZ Partners, two years early. Back in 2020, investment fund EMZ Partners had helped finance the acquisition of SIG Air Handling and the creation of the new Airvance Group. This debt was repaid on Thursday 24 February 2022.
Laurent Dolbeau, CEO of the Airvance Group welcomed this transaction as evidence of the very good financial health of the Airvance Group, and of the success of its plans to create value and ensure organic growth. The new bank debt contract is for a total of €178M in addition to a credit line to accelerate the Group’s external growth.
Laurent Dolbeau expressed his thanks to the teams at EMZ Partners for their support over these last two years, as well as the Group’s banking partners for their renewed trust. The transaction was also made possible thanks to the expertise of the following companies : Canaccord Genuity (refinancing consultancy services), Shearman & Sterling (banking-related legal services), Delaby & Dorison (tax, legal and corporate consultancy services), and lenders De Pardieu Brocas Maffei (banking-related legal services).
This refinancing was organised around lenders who have supported the Group over many years, including Société Générale, Banque Populaire AURA, BNP Paribas, HSBC, CIC, Allianz and BPI, and co-ordinated by LCL.
About Airvance Group
The Airvance Group is an expert in ventilation, air treatment and indoor air quality for buildings. With a turnover of 505 M€ in 2021 and a workforce of 1800 people, the Airvance Group is a major player in the European Air Treatment market. The Airvance Group is present in 12 countries in Europe through its network of subsidiaries. The presence of the group in Africa is historical and is reinforced by its subsidiary in Angola. The Airvance Group distributes the brands France Air, Cairox, Saftair, and Sufix. The products marketed are intended to ensure the comfort and safety of occupants in individual and collective housing, tertiary buildings, hospital buildings, clean rooms and industry. The product lines range from ventilation, energy recovery, air treatment, distribution, diffusion, fire protection, filtration, air conditioning, heating and insulation of air networks.