Bpifrance Investissement · 26/06/2018 3 Titre de la présentation 50% Bpifrance Private Banks...

Bpifrance InvestissementMid & Large Cap

26/06/2018

2Titre de la présentation

KEY

FIGURES

€65bn€30bn in equity instruments

under management(of which €8bn in funds of funds)

€35bn in loans outstanding

2 600staff dedicated to the

long-term support of

French companies

(of whom 425 investors)61 000companies

backed through

bank guarantees

3 200innovative

projects

financed

1 680international

projects backed 1 000companies

supported through equity

investments

30 000companies backed

through debt

financing, i.e.

1 French SME in 3

26/06/2018


50%

Bpifrance Private

Banks

Bpifrance Investissement€30bn under Management

Bpifrance Financement€35bn in loans outstanding

100%

Innovation

loansGuarantees Co-financing

10%

Export Finance€19bn in credit insurance

50%

100% 100% 90% 10%

Mid & Large

Cap

José

Gonzalo

€18.6bn AuM

PME

Fanny

Letier

€1.5bn AuM

Venture

Capital

Paul-François

Fournier

€1.6bn AuM

Funds of

funds

Benjamin

Paternot

€7.7bn AuM

offers the complete range of public financing instruments

to foster the growth of the companies it supports

Direct Funds c.€22bn

c.700 portfolio companies

Indirect Funds c.€8bn

c.300 partner funds

300 partners100 portfolio

companies

450 portfolio

companies

142 portfolio

companies

26/06/2018


Mid & Large Cap: The French sovereign fund for mid-sized

companies and large firms

1

Strengthen French mid-sized and large companies● Support their development

in France and abroad

● Reinvest over time to provide support through the cycle

● Enable consolidationThrough build-ups and divestments

Contribute to the French footprintin the share capital and the business activity of companies that are of strategicimportance to the economy

● Become a reference shareholder

● Facilitate carve-outs from large firms

● Create additional production capacity

2

26/06/2018


# portfolio

companies

Mid & Large Cap: 64 investors dedicated to the support of

mid-sized companies and large firms

Division

AuM

Target

companies

Team

Ticket size

Large Cap

Mid-sized companies and

large firms

28 investors

66

Automotive

Fund

€625m

Tier 1 and 2

automotive

suppliers

5 investors

Equity &

quasi-equity

Mid Cap

SMEs

Equity MezzaninePrivate

debt

12

investors8 investors

€555M €310M €140M

International

Build-Up

Fund

€200m

Foreign companies

being acquired by

French players

2 investors

Equity &

mezzanine

Special Purpose

Vehicle (SPV)

Fund

€840m

SPVs established in

partnership with

industrial players for

specific projects

9 investors

Equity

32 8 14 6-

Dry Powder of c.€6bn(2)

Equity &

quasi-equity

€1,005mc.€4,000m (mid-sized) /

c.€11,900m (large firms)

€1m - €60m €3m - €30m €10m - €160m€5m(1) - €20m €15m - €500m

Instruments

64 investors

€18.6bn

142 portfolio

companies

C.€18bn in Assets under Management and a portfolio of 142 companies

Notes:

(1) From €7m upwards in equity

(2) €14.5bn out of the €18.6bn are currrently invested + €2bn of uncalled subscribed capital

19

6

Mid & Large Cap: Our investment principles

Long termMinority

shareholder

Supportive of the

company and its

management

Firmly supportive

of co-investments

Strong French

footprint

Agile and

responsive

investor

Customized

investments(Equity and quasi-

equity)

Involvement in

governance

Socially

responsible

investor

Public interest in

mind

7

Long term institutionalinvestor

Team of experienced and involved professionals

The Accelerator

An intensive program of excellence combining

consulting, training and networking bringing

together 25 mid-sized companies for 24 months

InnovationAccess to more than

35,000 start-ups

International

NetworkingAccess to Bpifrance

Excellence’s 4,000 members

Mid & Large Cap: Industrial and strategic value creation

Build-upTarget screening

Support during M&A processes

Supporting international development

through 85 offices in 70 countries

Strategic ConsultingPartnership with LEK Consulting

Strategic and competitive analyses

Performance improvementDedicated team of 20 in-house professionals

and 140 external consultants qualified in lean

management, industry 4.0, digital

transformation, commercial performance, etc.

TMT excl. Orange & STMicro.

21%

Automotive excl. PSA1%

Industrials9%

Energy8%

Services5%

Agrifood3%

Other0,3%

26/06/2018


Unlisted80%

Listed20%

Family-

owned46%

Not

family-

owned54%

Mid & Large Cap: A diversified and mainly unlisted portfolio

Investments by company profile(2)Breakdown of the portfolio value by industry (1)

Notes :

(1) Valuation of the portfolio as of 31/12/2017 – includes the Large Cap, Mid Cap, and FAA portofolios (excludes the International Build-Up Fund and the SPV Fund)

(2) Breakdown by number of investments

Total : €14.5bn(1)

Average investment value: €114m

Number of investments: 127

Technology,

Media,

Telecom

61%

Automotive

14%

25%

15%13%

Industrials14%

Energy14%

Electronics14%

Telecom9%

Agrifood10%

Media10%

Logistics5%

Software & IT5%

Automotive5%

Other14%

26/06/2018

9

Breakdown of the portfolio by industry(1)

Total : €11.9bn(1)

Average investment value: €570m

Average stake: 10%


Notes :

(1) Breakdown by number of investments (as of

31/12/2017)

(2) Other: Antalis (Paper Distribution) and Sequana

(Paper Manufacturing)

Large Cap: Portfolio of large companiesRecent investments

Recent divestments

(2)

€1.92bn investment in 2017

• 9th global car manufacturer and 8th global spare parts manufacturer under the Faurecia Brand

• Revenues of €54.0bn in 2016 ; EBIT of €3.2bn (6.0% operating margin), the Group employs c.115,000

people - 66,000 of which are based in France

• Rationale: support the Group’s ambitious growth strategy over the long-term, for example by walking it

through the integration of General Motors Europe’s newly acquired business

€110m co-investment alongside Advent in 2016

• World leader in smart card and security solutions

• Combined revenues of €2.9bn ; 10,000+ staff

• Rationale: support Oberthur Tech. in its acquisition of Morpho, a world leader in identification and

digital security technologies, alongside its majority shareholder Advent International

€363m investment in 2015

• World leader in payment services and seamless payment technologies

• Revenues of €2,2bn ; EBITDA of €494m (22% margin) ; 6,000 staff

• Rationale: Assist a French leader and provide the company with a stable long term investor

10% stake acquired in 2015 alongside Apollo

• #3 manufacturer in the world of glass packaging

• Revenues of €2.4bn ; EBITDA of €411m (17% margin) ; 10,000 staff

• Rationale: Strengthen the French footprint of Verallia following its sale by Saint-Gobain to Apollo

€504m divestment in 2016 - €428m total divestment in 2017

• European leader in concessions and public works

• Revenues of €14bn ; EBIT of €1.4bn (10% margin) ; 64,000 staff

• Investment rationale (2006): Stabilize the shareholding structure during unfavorable market conditions

• Divestment rationale (2016-2017): Company now backed by a stable shareholder base

€200m divestment in 2014

• Automotive spare parts manufacturer

• Revenues of €13bn; EBITDA of €1.5bn (12% margin); 82,000 staff

• Investment rationale (2009): Stabilize and strengthen the shareholding structure

• Divestment rationale (2014-15): Stabilized shareholding structure and strengthened market positions

€382m divestment in June 2018 at the occasion of a public takeover offer by Thalès [Ongoing]

• World leader in smart card and security solutions

• Revenues of €3bn ; EBITDA of €457M (15.4% margin) ; 15 000 staff

• Investment rationale (2009): Stabilize the shareholding structure and become the reference shareholder

• Divestment rationale (2017): Support the consolidation with another renowned French industrial player

Industrials21%

Retail13%

B2B Services10%

Electronics7%

Education7%

Energy6%

Aeronautics4%

Telecom4%

Software & IT4%

Logistics4%

B2C Services4%

Healthcare4%

Construction3%

Agrifood3%

Other6%


Total : €2.4bn(1)

Average investment value: €26m (€48m for Large Cap funds, €7m for Mid Cap funds)

Average stake: 20%


Recent divestments

Notes : (1) Breakdown by number of investments,

including the Large Cap and Mid Cap portfolios only

(excluding FAA and SPI) - as of 31/12/2017

(2) BtoC services excluding education (e.g. hotels)

(3) Other: Financial, media, real estate, textiles, etc..

(Mid Cap)

(Large Cap)

(Large Cap)

(Large Cap)

(Large Cap)

(Large Cap)

Mid & Large Cap: Portfolio of mid-sized companiesBreakdown of the portfolio by industry (1) Recent investments

(2)

(3)

€100m investment in 2015 and 2017

• Renewable energy specialist (wind, solar, hydro)

• 240MW net capacity (installed and under construction); 130 staff

• Rationale: Contribute to the creation of a French leader in renewable energies and support

international growth, while favoring energy transition

€15M investment in 2016

• Leader in medical science in the West of France

• Merger of 5 private clinics

• €100m of revenue ; 1,000 staff and 57 laboratories

• Rationale : Accelerate the growth of the company (2019 Sales = 2.5x 2015 Sales)


• 2nd private nursery operator in France

• Revenues of €144m ; 850 locations; 3,200 staff

• Rationale: Accelerate the national and international development of the company


• First private player in higher education in France

• Budget of €140m ; 15,000 students and 185 professors

• Rationale: Support the acquisition of the Laureate Group (7500 students)

Divestment in 2016

• Analysis and certification services to implement standards in the environment, construction, and

food safety field, as well as for genetic analysis labs

• Divestment rationale (2016): Doubling of revenues in 6 years, creation of 1,000 jobs (90% in France)


• Management of 4 and 5 stars independent hotels

• Revenues of €75m with more than €900m in assets under management

• Rationale : Support Paris Inn in its international development projects, mainly in Europe

Sale to Direct Energie in November 2017

• Independent French leader in renewable energy

• 2016 revenues of €115m ; EBITDA of €65m (56% margin) ; 250 staff

• Divestment rationale (2017): Favor the consolidation with a French player active in energy

distribution, aimed at offering a 100% renewable energy plan to end-customers

Sale to British asset manager Schroders in May 2018

• French leader in hotel asset management (43 hotels in 7 countries)

• 2017 revenues of €11.6m ; EBIT of €5.9m (51% margin)

• Divestment rationale (2018): Strong performance (results reached 3 years ahead of the

original Business Plan forecasts)

(Large Cap)

(Large Cap)

TechnipFMC2016 revenues :

€11bn

Oil and gas engineering

January 2017

5.3

% s

take

R

Vallourec2016 revenues :

€3bn

Engineering and equipment

May 2016

14

.8%

sta

ke

R

11

Large Cap: Supporting more than 25 large companies since 2009

R = reinvestment

Telecom operator

FSI 2009

9.6

% s

take

Orange2016 revenues :

€41bn

Automotive supplier

FSI 2009

5.8

% s

take

Valéo2016 revenues :

€16bn

Leader in glass packaging

June 2015

10

% s

take

Verallia2016 revenues :

€2,4bn

Terminal payment solutions

May 2015

5.5

% s

take

Ingenico Group2016 revenues :

€2,3bn

Car manufacturer

June 2017

12

.6%

sta

ke

PSA2016 revenues :

€54bn

13

.1%

sta

ke

Producer of semiconductors

November 2016

STMicroelectronics2016 revenues :

$7bnR

Idemia2016 revenues :

€2,9bn

World leader in smart card and

security solutions

May 2017

26/06/2018


Large Cap: Supporting more than 100 mid-sized companies since 2009

Private clinics

2016

MédiPôle

2015 revenues: €866m

Private nurseries network

2016

La Maison Bleue


Hotel management

2016

Algonquin


Automotive parts supplier

2016

Mecaplast / Novares


Industrial turning

2016

Pernat


Private nurseries network

2016

Les Petits Chaperons

Rouges


Power company

2016

Albioma


Developer of renewable energy

2015

Eren


Higher education

2016

INSEEC


Hotel management

2017

Paris Inn Group


Primary and secondary education

2018

Nace


Software solutions publisher

2018

NeoXam


26/06/2018


Professional kitchens equipment

July 2017

Alvène


Co-i

nvest.

No

rd C

ap

ita

l P

art

ena

ire

s

Retirement home

April 2017

Domidep


Co-i

nvest.

UI

Ge

stio

n, C

arv

est

Ticketing software supplier

January 2017

Platinium


Co-i

nvest.

Managem

ent

and E

DR

IP

A

Medical biology laboratory

May 2016

Laborizon


Co-i

nvest.

Managem

ent

and

bio

logis

tes

A

Leisure parks operator

March 2016

Looping


Co-i

nvest.

Erg

on

Capital P

art

ners

Organic products retailer

July 2017

La Vie Saine


Co-i

nvest.

ED

RIP

A

Polymer distribution

June 2017

Emeraude


Co

-invest.

Socié

té G

énéra

le,

BN

P

A

Private Institute for Examination

Preparation

July 2017

Ipesup


Co

-invest.

B. Leonard

Helicopter services

(SAMU, lifting, rescue)

October 2017

Co-i

nvest.

Oaktr

ee

Capital

SAF Group


Telecom networks and

communicating solutions

February 2016

Sogetrel


Co-i

nvest.

Quilvest

Electrical safety equipment

December 2015

Novarc


Co-i

nvest.

Am

undiP

EF

, B

NP

dev,

CA

SR

A C

apitalA

Fishing tackle retailer

March 2016

Pacific Pêche


Co-i

nvest.

Wein

berg

Capital

Part

ners

Mid Cap Equity: Supporting more than 60 companies since 2007

A = arranger

26/06/2018


A = arranger

Co-i

nvest.

Ard

ian /

Cé

réa

De

tte

Manufacture of plastic containers

February 2017

SINGLE TRANCHE

Sponsor : Sagard2016 revenues: €59m

Outsourced hosting

March 2016

MEZZANINE

Sponsor : LFPI2015 revenues: €110m

A

Co-i

nvest.

LF

PI M

ezzanin

e

Manufacture / distribution of food supplements

October 2016

MEZZANINE

Sponsors : TCR Capital,

Ouest Croissance, Bpifrance

FIRA

Management and rental of metal crates

January 2017

EURO-PP

Sponsor : Céréa CapitalC

o-i

nvest.

Cé

réa

De

tte

, A

rtem

id

Co

-invest.

BN

P

Distribution of coatings

March 2017

SENIOR BULLET DEBT

Sponsorless2016 revenues: €47m

Co

-invest.

LC

L

Jewelery-Watches

June 2017

SENIOR BULLET DEBT

Sponsor : 21CP2016 revenues: €83m

Co

-invest.

Unexo

Sea & river transport

June 2017

EURO PP

Sponsorless 2016 revenues: €155m

Automotive supplier

July 2017

MEZZANINE

Sponsor : Stags Part.2016 revenues: €68m

Co-i

nvest.

Schelc

her

Pri

nce G

estion

Construction

September 2017

SENIOR BULLET DEBT

Sponsorless2016 revenues: €650m

Co-i

nvest.

Idin

vest

Management consulting

November 2017

SENIOR BULLET DEBT

Sponsor : Abenex Capital2016 revenues: €80m

Nurseries network

October 2017

SENIOR BULLET DEBT

Sponsors : Towerbrook

et Bpifrance

Co-i

nvest.

BE

CM

Clamps for automotive sector

September 2017

MEZZANINE

Sponsor : Parquest2016 revenues: €77mA

Co-i

nvest.

Idin

vest

Mid Cap Mezzanine & Private Debt: Supporting more than 50 companies since 2010

26/06/2018


Mid & Large Cap:

Executive Committee

José Gonzalo – Executive Director• Bpifrance since 2014• Capgemini, Orange, Compagnie Financière Rothschild

Sciences Po Paris, Université Paris Dauphine

01 53 89 87 79 [email protected] 06 85 11 03 51

ENS Ulm, ENSAE

01 53 89 55 63 [email protected] 06 89 62 95 71

Sébastien Moynot – Director – Large Cap• Bpifrance since 2009

• Agence des Participations de l’Etat, Direction du Trésor

ESC Bordeaux, DESCF

01 53 89 55 32 [email protected] 06 75 24 37 40

Eric Lefebvre – Director – Large Cap• Bpifrance since 2009

• CDC, Mazars

MBA INSEAD, ENPC

01 53 89 55 94 [email protected] 06 79 82 28 14

Thierry Sommelet – Director – Large Cap – Tech Practice

• Bpifrance since 2009

• Caisse des Dépôts, InfosCE, Renaissance Software

ESSEC, University of Warwick MBA

01 53 89 79 82 [email protected] 06 73 09 92 54

Stéphanie Frachet – Director – Large Cap• Bpifrance since 2009

• Société Générale, PwC, EY

HEC Paris, University of Michigan

01 53 89 55 05 [email protected] 06 07 77 47 42

Anne-Sophie Herelle – Director – Large Cap• Bpifrance since 2009

• J.P. Morgan

ESCP Europe

01 53 89 87 26 [email protected] 43 20 54 73

Alexandre Ossola – Director – Midcap & Automotive funds• Bpifrance since 2013

• Credit Suisse, CVC Capital Partners, CDC Climat

Ecole Polytechnique, ENPC

01 41 79 84 25 [email protected] 06 37 99 85 64

Guillaume Mortelier – Director – International Build-

up Fund• Bpifrance since 2012

• Proparco, Astorg Partners, Bain & Company

Université de Belfort

01 41 79 91 95 [email protected] 77 86 74 32

Magali Joessel – Director – SPI fund• Bpifrance since 2013

• Caisse des Dépôts, Inspection Générale des Finances

26/06/2018


Investments: Albioma, Technip, Vallourec, CGG, Groupe Avril,

Groupe GPS

ESCP Europe

01 53 89 79 31 [email protected] 06 78 26 30 36

Emilie Brunet-Manardo – Investment DirectorLarge Cap• Bpifrance since 2010• Oddo BHF

Investments: STMicroelectronics, Eutelsat, Idemia,

Gascogne, Serge Ferrari, Sequana, Antalis

X, Telecom (Ingénieur des Mines)

01 53 89 79 49 [email protected] 70 32 89 03

Samuel Dalens – Investment DirectorLarge Cap• Bpifrance since 2012• APE, Direction du budget, MAE

Investments: Limagrain, Altrad, Euronext, Farinia, AD

Education, Looping Group

ESCP Europe

01 53 89 72 49 [email protected]

06 82 32 06 07

Benoist de Saint Lager – Investment DirectorLarge Cap• Bpifrance since 2015• DC Advisory, HSBC, Credit Suisse

Investments: AD-Industrie, Grimaud, Mecachrome, MVG,

Technicolor, Mirion

SUPAERO


06 78 64 91 54

Sylvain Dekens – Investment DirectorLarge Cap• Bpifrance since 2011• Deutsche Bank

Investments: Novares, SNOP, Pernat, Forge &

Développement, Ateliers des Janves, Tecma

MSG


06 82 57 17 60

Hubert Hernandez – Investment DirectorLarge Cap• Bpifrance since 2012• PSA, Groupe Bolloré, Digital Equipment Corporation

Investments: Inseec, NACE, Ipesup, Algonquin, Finsecur,

Gemalto

Université Paris Dauphine, MBA INSEAD


07 86 28 95 06

Stanislas Panhard – Investment DirectorLarge Cap• Bpifrance since 2015• Fnac, Carrefour, Wendel, Goldman Sachs

Mid & Large Cap: Investment Directors - Large Cap

Investments: NEOEN, Orange, La Maison Bleue, Dupont

Restauration, Sermeta

Université Lille 2 - Maitrise de Droit privé , EDHEC (Grande

Ecole), CAPA


06 77 94 34 02

Céline André – Investment DirectorLarge Cap• Bpifrance since 2012• Gide, Veil Jourde

26/06/2018


Investments: Armatis, Carré Blanc, Emeraude, Laborizon, La Vie

Saine, Platinium, Rougnon

EM Lyon, Schulich School of Business (Toronto)


06 30 74 40 03

Romain Gauvrit – Investment Director – Equity• Bpifrance since 2010• Qualium

Investments: Novarc, Sogetrel, SAF, Melkonian

EM Lyon


06 71 77 91 09

Alexis Guinard – Investment Director – Equity• Bpifrance since 2010• EY Transaction Services, Reckitt Benckiser

Investments: Synchrone, Armatis, Nexway, Mecamidi

Ecole Polytechnique, Ingénieur des Mines


06 03 37 36 37

Luc Heinrich – Deputy Investment Director Mid Cap – Equity• Bpifrance since 2008• Alcatel Lucent, McKinsey, SGCI, France Télécom

Investments: Synchrone, Domidep

EM Lyon


06 88 38 96 24

Ronan Lefort – Investment Director – Equity• Bpifrance since 2009• Naxicap Partners, Natixis

Harvard (Fiped), Institut Régional d’Administration de Metz


06 89 87 52 73&

Arnaud Legardeur – Investment Director – Equity• Bpifrance since 1999• CDC Marchés, CDC Entreprises

Investments: Pénélope, Square, CTN, Cléor, Cyclopharma

Université Paris Sorbonne


06 65 87 31 70

Valérie de La Ménardière – Senior Investment Director – Debt• Bpifrance since 2015• Crédit Lyonnais, GE Capital, RBS

Investments: Caillau, Dourdin, Dubbing Brothers, GCC, GPS, Lasry,

Réunionnaise du Rhum, Scopelec, Sogestran, Vaglio

EM Lyon


06 82 42 38 74

Nicolas Offroy – Senior Investment Director – Debt• Bpifrance since 2010• Banque Espirito Santo de la Vénétie

Investments: Defi Group, Ho Hio Hen, Laboratoire Lescuyer, VGF,

Ipackchem, La Maison Bleue

IEP Strasbourg, ESSEC


07 89 07 91 95

Stéphane Romang – Investment Director – Debt• Bpifrance since 2015• Banque Espirito Santo de la Vénétie, CACIB

Mid & Large Cap: Investment Directors - Mid Cap

Investments: Amplitude Laser Group, Carré Blanc, Melkonian, Anaveo,

Domidep, Abeo, Ludendo

HEC


06 14 92 03 84

Emmanuelle Gervais – Directrice d’investissement Senior – Equity• Bpifrance since 2010• Eurazeo, Edmond de Rothschild Capital Partners, Morgan Stanley

Investments: Alvene, Malherbe, Father and Sons, Pacific Peche

EM Lyon, INSA Lyon


06 80 61 41 49

Francis Estellat – Senior Investment Director – Equity• Bpifrance since 2010• Initiative et Finance, CM CIC Investissement, Air Liquide

26/06/2018


ENPC, MBA ENPC

01 53 89 87 46 [email protected] 84 90 98 38

Fabien Brenneval – Investment Director –SPV• Bpifrance since 2017• Trafigura, J.P. Morgan, Banque Mondiale

Investments: YposKesi, Carbiolice, Evertree

CentraleSupelec, Imperial College

01 53 89 77 21 [email protected] 45 28 27 21

Maxime Cordonnier – Investment Director –SPV• Bpifrance since 2014• CDC, Lundbeck, Capgemini Consulting

Investments: Suncnim

Université Paris Dauphine

01 53 89 77 34 [email protected] 06 47 48 70 67

Isabelle de Marcillac – Investment Director –SPV• Bpifrance since 2014• CDC, Natixis

Investments: Naval Energies

IEP Paris

01 53 89 87 08 [email protected] 31 26 32 20

Jean-Philippe Richard – Senior Investment Director –SPV• Bpifrance since 2015• ADP Ingénierie, CDC, Mazars

Investments: Avril protein Solution, Suncnim

IAE

01 53 89 78 97 [email protected] 80 34 64 28

Eric Lecomte – Senior Investment Director –SPV• Bpifrance since 2014• CDC, Paribas

Mid & Large Cap: Investment Directors — SPV and

International Build-up Fund

ESCP Europe

01 53 89 79 72 [email protected] 86 89 29 18

Pierre Rousseau – Investment Director–International Build-up Fund• Bpifrance since 2017• Edmond de Rothschild, Proparco, CIC LBO Partners

26/06/2018


Appendix• Bpifrance Mid & Large Cap’s investment process

• Focus on the Automotive, SPV, International Build-up, and Private Debt

funds

• Selected case studies

• Mid & Large Cap’s portfolio in detail

• Bpifrance’s tools to support portfolio companies

26/06/2018


Bpifrance

Investissement

& Financement

Identify and contact

companies

PRELIMINARY

ANALYSIS

MEETING WITH

MANAGEMENT

DUE DILIGENCE

Accounting and financial

analysis, legal, social,

environmental, negotiation

of the terms of the

transaction…

ACQUISITION

INVOLVEMENT IN

GOVERNANCE

Internal decision to

pursue

Investment

CommitteeLegal documentation

(shareholder

agreement…)

Companies

that directly contact the

investment teams or

through Bpifrance’s

regional networks

Internal Decision process

2-3 weeks

Led by the Investment Team

+

External Board members:

Pool of 250 professionals

Mid & Large Cap: Our investment process

Ecosystem

Intermediaries, partner

funds, regions, competitive

clusters

€5bn Cumulated

revenues

13External

growth

« FONDS AVENIR

AUTOMOBILE »

€625m*

Long-term investor in Tier 1 and 2 suppliersProfitable companies willing to grow their business in France and abroad (greenfield or acquisitions) or

carrying promising new technologies for the automotive sector

Minority investment in equity or quasi-equityInvolvement in governance

30INVESTMENTS

ALREADY COMPLETED

FROM 1 TO €60m

Limited Partners

35 000 employees

11 Business

areas

* Cumulated Commitments on the “Tier 1" (FAA) and “Tier 2" Funds (FMEA Tier 2)

Automotive fund (« FAA »): The growth capital fund solely

dedicated to the automotive sector

21

22

The SPV fund is aimed at supporting the industrial deployment of new technologies

The SPV fund focuses on helping companies industrialize innovative technologies. This step is crucial to transform technologies into

industrial processes that will lead to new economic activity and job creation.

Companies that are faced with this difficult challenge need specific investor support that sits in between venture capital and traditional

growth equity. Because of its inherent riskiness, its long payback periods, and the capital-intensive development model of the target

companies, this type of investment cannot easily be found on the market.

To fill this gap in the market, Bpifrance created the SPV fund in 2015, which has been supplied with €800m of capital from the

French State’s « Investissements d’Avenir » program (PIA) and from the European Investment Bank.

€300m have already been invested in industrial projects.

A few examples

• SUN CNIM: support a mid cap company in the

development of a new business : the manufacturing of

renewable energy production equipment

• YPOSKESI: build a factory for the production of gene

and cell therapy products

• EVERTREE: produce a colza-based biological additive

for the wood panel industry to replace fossil fuel-based

toxic products

• CARBIOLICE: produce and commercialize bio-based

biodegradable pellets to make plastic wrap, bags, and

agricultural covering material

The SPV fund makes minority investments alongside one or more industrial partners in a new SPV dedicated to a

specific industrial project

SPV fund: Focus on the action of the SPV fund

Companies SPV Fund

Industrial

NewCo

Cash

Cash & in-kindcontributions

(e.g. industrial capital)

Banks

Bank debt

€10m to

€160m Minority

investor

23

The International Build-up Fund offers SMEs and mid-sized companies tailor-made support to identify, analyze, structure and co-

finance their external growth operations by investing directly alongside them in targets based abroad

The fund focuses on family businesses in order to prompt them to make structuring cross-border acquisitions to conquer new markets

Complex, risky and capital-intensive, this typology of operations is today rarely addressed by French private equity players

The International Build-up Fund, created in 2018, is endowed with €200M through the Programme d’Investissements d’Avenir (PIA). It

invests up to €30M per project

• Financial structuration of the investment

• Co-financing of the acquisitions in €, $ or local

currency

• Search for local investors if necessary

• Bringing Bpifrance’s support through its networks

abroad to approach key managers and identify

business or industrial partners

The International Build-up Fund is a minority investor alongside a French company directly in the acquired

foreign target or via a dedicated SPV

International Build-up Fund: Contributing to the

transformation of French SMEs and mid-sized companies

by supporting their acquisitions abroad

Company IBF*

Target foreign

companyCashCash

Worldwide

Scope

€3m to

€30m

* IBF: International Build-up Fund

26/06/2018


Mezzanine Single tranche Senior bullet debt

FIC 4

FPCI

FIC Dette Privée

FCT

FIC Dette Privée

FCT

5 to €20M*

Convertible bonds Bonds - Convertible bondsBullet debt (e.g: tranche B)

Bond loan (e.g: Euro PP)

Growth Capital - LBO Corporate - LBO

Arranger and Limited Partner

Systematic search for co-investment

Generalist (excluding finance, real estate, infrastructures)

Cash interests: [4,0 % - 6,0 %]

Capitalized interests: [4,0 % - 6,0 %]

Share purchase warrants (BSA)

Total interests: [6,5 % - 8,0 %]

Cash interests

Potentially PIK interests

Potential share purchase warrants

Cash interests: [3,5 % - 5,5 %]

(according to the nature of the operation)

5 to 8 years

Redeemable at maturity

Early repayment possible after a period of no-call (2-3 years)

Funds

Investment tickets (€M)

Investment tools

Target operations

Role

Intervention

Sector

Pricing

Maturity

* Maximum : 10% of total fund size

Private Debt Funds: a comprehensive offer of debt instruments

5 to €20M* 5 to €20M*

26/06/2018


PSA: Relieve the French State in its long-term support of a national industrial champion

Company description

• PSA is a French automotive company (9th global car

manufacturer), active in the fields of (i) conception and

manufacturing of vehicles under the Peugeot, Citroën, and DS

Brands, with 3.1m of vehicles sold annually, and (ii) conception

and manufacturing of automotive equipment (8th global spare

parts manufacturer) under the Faurecia Brand

• PSA generated a turnover of €54.0bn in 2016, and an EBIT of

€3.2bn (6.0% operating margin). The Group employs c.115,000

people - 66,000 of which are based in France

• The main shareholders before Bpifrance’s investment were the

French State (via its holding Sogepa), Dongfeng, and the

holding of the Peugeot family, each with 12.6% of the share

capital

Deal description

• In March 2017, Bpifrance invested €1.92bn in PSA,

effectively replacing the French State as one of the 3 main

shareholders of the Group

• With PSA having achieved most of its restructuration and

benefiting from rapidly recovering market fundamentals,

Bpifrance aims to support the Group’s ambitious growth

strategy over the long-term, for example by walking it through

the integration of General Motors Europe’s newly acquired

business

• Bpifrance benefits from its FAA team’s prime hindsight

over the automotive sector, and intends to support PSA as

it prepares to address the customers’ future needs in terms of

innovation (sustainable mobility, smart cars, etc.) and the

market’s requirements in terms of scale and investments

• With this landmark transaction, Bpifrance has successfully

shown that it has both the financial firepower and the

market knowledge to support one of France’s most-

respected industrial players as it assumes its new position

as the 2nd car manufacturer in Europe

26/06/2018


Ingenico: Stabilize the shareholding structure

• Founded in 1980 by Jean-Jacques Poutrel and Michel

Malhouitre, Ingenico is a global leader in the payment terminal

market;

• Ingenico generates in 2015 an annual turnover of €2,2bn and

EBITDA of €508m (23%). It employs 6,000 people worldwide.

• The company, which boasts a network of over 1,000 banks and

acquirers, a presence in 170 countries, acceptance of more than

300 payment methods, with more than 250,000 merchants

connected to its platforms;

• Ingenico has made successful partnership to consolidate its

leading position on the secured payment market, notably with

Paypal, Microsoft, Samsung and Google.

• In 2015, Bpifrance acquired a 5,5% stake in Ingenico for

an amount of €364m from Safran;

• Safran had become a shareholder of Ingenico in 2008

when it received a 24% stake in consideration for the

contribution to Ingenico Group of Sagem Monetel, Morpho's

payment terminal business;

• Since then, Safran has gradually sold its stake in Ingenico as

it was not considered core business;

• Bpifrance enters Ingenico share capital as a long-term

shareholder to support the management in its development

strategy around the globe.

Company description Deal description

26/06/2018


Verallia: Preserve the company’s foothold in France

• Verallia is the #3 global manufacturer of glass bottles and jars

with a turnover of €2,4bn;

• Verallia operates 47 facilities in 13 countries, mainly in Western

Europe, South America and Russia;

• Top end markets are alcoholic beverages (~70% of sales), food

(20% of sales) and non alcoholic beverages (10%);

• Verallia employs 10,000 people worldwide, of which 2,400 in

France where it operates 7 industrial facilities.

• In 2015, Bpifrance took a 10% stake in Verallia following

its acquisition by Apollo Global Management from Saint-

Gobain;

• With this acquisition, Apollo and Bpifrance intends to

consolidate the position of Verallia on its markets,

strengthen the overall industrial performance and continue to

invest in the development of the company;

• Verallia was put up for sale by Saint-Gobain which was

willing to refocus on its portfolio of innovative materials and

products;

• The sale was led through an auction process, with

strong interest from numerous PE firms (Blackstone,

CVC, Bain….);

• The price offered by Apollo and Bpifrance valued

Verallia at €2,9bn EV. The deal was financed through a mix

of equity and debt.


28

Sermeta: Support management in a company buyout

• Sermeta is a leading global manufacturer of stainless steel heat

exchangers for condensing boilers in commercial and residential

premises across Europe and North America;

• The company was founded in 1993 by Jo Le Mer and Rocco

Giannoni and is based in Morlaix (29);

• Sermeta generates a turnover of c.€185m in 2015, representing

more than 1,7 million heat exchangers produced. The company

employs c. 600 people;

• More than 90% of the production is sold abroad to international

customers such as Vaillant, Ariston, Radiant.

• In 2014, Bpifrance invested €180m in Sermeta to participate

in the buy-out of the Company alongside founder Jo Le Mer and

other financial investors (notably Arkea);

• The Company was put up for sale by its majority

shareholder Carlyle, which owned a 65% share since 2010

following the exit of Rocco Giannoni from the share capital;

• Due to its attractive business model (strong positions on its

markets, R&D intensive, strong cash flow generation), Sermeta

was seen as a first class asset;

• In a competitive auction against international PE firms

such as Blackstone, Bpifrance, Arkea and the founder

manage to deliver in a short time frame a fully financed offer to

Carlyle.


26/06/2018


614 714861

1,600

2,400

500

800

1 100

1 400

1 700

2 000

2 300

2 600

2012 2013 2014 2015 2016

Revenue Growth (€M)

29

Altrad: Foster international growth

Product examples

The Altrad group is specialized in the manufacturing and

distribution of equipment for construction professionals (world

leader in cement mixers, scaffolds, and other tubular equipment),

as well as in associated services

Company Description (2016 Revenues: €2.4bn)

x4

In 2011, CM-CIC Capital Finance alongside Arkéa Capital

Investissement, BNP Paribas Développement, and Bpifrance

Investissement, purchased a minority share in the Group’s capital

with the aim of accelerating the deployment of Altrad’s M&A growth

initiatives.

In 2015, all existing financial sponsors and particularly Bpifrance

Investissement took part in the company’s latest equity issuance

to accelerate the growth of this ambitious and dynamic French

company, therefore allowing for the acquisition of the German

player Hertel, one of the Europeans leaders in the industry, to take

place.

In 2016, Altrad kept pushing to gain traction in the field of recurring

business services by integrating Prezioso, and therefore invited its

existing financial sponsors, including Bpifrance Investissement,

to a new capital increase in the process.

Since Bpifrance Investissement first invested in the company, the

Altrad Group grew from c.€500M to €2.4bn in revenues (x4 in 6

years), and has successfully conducted more than 20 acquisitions

both in France and abroad.

Mid & Large Cap’s support

26/06/2018


30

GPS: Act as a « one stop shop » for various capital needs

Product examples

The GPS group specializes in logistics services for industrial

packaging (metal crates), used in the transportation of rubber

and food raw materials.

Company Description (2016 revenues: €44.7m)

In 2017, Bpifrance financed the GPS group in Equity (via ETI

2020) and in debt redeemable at maturity (via FIC Private

Debt).

The support of Bpifrance alongside Cerea Partners aims to

support the GPS group in (i) its ambition to double the size of its

fleet of metal cases, (ii) its geographical expansion (Asia, Africa

and South America) and (iii) preparing its managerial transition.


22 2429

4046

53

-

10

20

30

40

50

60

2012 2013 2014 2015 2016 2017

Revenue growth (€m)

Company Description (2016 revenues: €113.4m)

26/06/2018


7884

9699

113118

60

70

80

90

100

110

120

2011 2012 2013 2014 2015 2016

Revenue growth (€m)

Novarc: long-term support

Product examples

The Novarc Group is an industrial group organized around

2 activities: the manufacture / distribution of electrical safety

equipment (ESP) and the design / distribution of

maintenance products for the automotive industry (PSAI).

In 2012, Ardian Expansion and Bpifrance (via FIC 2)

entered Novarc’s share capital to support the exit of the

EDRIP fund.

In 2015, the leader and majority shareholder, Frédéric

Croullet and Bpifrance came together to bring together a

new round of investments. Bpifrance has positioned itself

as a leader / arranger (via FIC 5) alongside BNPP and

Amundi.

Since 2012, Bpifrance has been providing the Group with

its expertise and numerous differentiating tools (360

diagnosis, lean management, specific LEK missions, etc.)

that enable it to achieve the objectives set by the strategic

development plans.


Company Description

26/06/2018


Pénélope: Mezzanine support

The Pénélope Group is one of the main French

players in the outsourcing of hospitality (physical and

telephone) jobs. The group also operates in the areas

of operational marketing, telemarketing and events.

With a turnover of more than €110m, Penelope has a

national geographic coverage thanks to 37 agencies

located in Paris and in the regions.

In 2016, LFPI took the majority stake in the Group in

partnership with the management teams and with the

support of Bpifrance which, during this operation, took

a minority stake (via the regional funds) and arranged

the mezzanine debt ( via FIC 4).

Since 2016, LFPI and Bpifrance have been providing

the Group with their expertise and networks in order to

support its development and support it in its ambitious

external growth strategy.


Hospitality Services

26/06/2018


Producer of bio-based

biodegradable pellets to make

plastic wrap, bags, and

agricultural covering material

€11minvested by

the SPV fund

in 3 phases :

2016 / 2019 /

2020

Total :

€29.5m

of which

€18.0m in

cash

Owns a

production

line of bio-

based pellets

for agriculatural

plastics, and

has an

existing client

portfolio

A cutting edge

start-up

company in the

enzyme

degradation of

polymers

The activity is

considered

« non core

business »

Needs a

partner to both

de-risk the

activity and

accelerate its

industrial

deployment

Context of the investment

✓ Regulatory tailwind over the short

term: the ban of fossil fuel-based plastic

shopping bags

✓ A major environmental challenge to be

addressed: the accumulation of plastic

waste

✓ Ongoing development of a new range of

eco-friendly products

✓ Broader use cases are contemplated

over the long run (rigid plastics,

disposable tableware)

1st French player in bio-

based and

biodegradable plastics

The partnership is building out a strong regional

footprint, and was awarded the Cleantech prize

« Best Partnership between innovative SMEs and

large companies » by EY and AFIC

Expected

revenue in 5

years : €19m

50 jobs

eventually

Assumes the

role of a

trusted third

party for both

partners, and

takes part in

the project

risk-sharing

Mission to

support the

industrialization

of new

technologies

Carbiolice: Support the development of bio-based plastics (SPV Fund)

BUT…

BUT…

34

Company name Sector Business Description % heldMarket

Capitalization(1) (€m)Invest. date

Orange Telecom Telecom Operator 9.6% 38,504 Contributed (4)

Vivendi Media Content and media 1.2% 29,021 Contributed (4)

PSA Automotive Manufacturer of automobiles 12.6% 15,341 jun-17

STMicroelectronics Electronics Manufacturer of semiconductors 13.4% 16,582 dec-10

TechnipFMC Energy Project management and engineering for the energy industry 5.3% 12,142 sept-09

Eutelsat Media Satellite operator 26.5% 4,491 Contributed (4)

Ingenico Electronics Payment solutions 5.5% 5,551 may-15

Gemalto Electronics Digital security 8.3% 4,476 jun-09

Euronext Finance Stock exchage 3.0% 3,627 jun-14

Criteo Software and IT Web advertising 4.2% 1,432 oct-13

Vallourec Energy Premium tubular solutions primarily serving energy markets 14.8% 2,306 jun-10

Nexans Industrials Production of cables and cabling solutions 7.8% 2,219 may-09

Technicolor Electronics Technology leader in the media and entertainment sector 5.3% 1,188 mar-13

Constellium Industrials Aluminum transformation 12.8% 1,250 jan-11

Antalis Distrbution Distribution of paper 2.9% 140 jun-17

CGG Energy Geoscience company 0.3% 84 jun-10

Séquana Paper Production of paper 15.5% 45 jul-12

Company name Sector Business description Revenue (2) €m Fund Invest. date

CMA-CGM(3) Transport Container transportation and shipping 18,032 (4) BPI Part. jun-13

Soprol Agroalimentaire Vegetal division of agribusiness group Avril 4,235 BPI Part. Contributed (5)

Verallia Industrie Glass container manufacturer 2,367 BPI Part. oct-15

Limagrain(3) Agribusiness Breeds and agricultural seeds 1,790 BPI Part. Contributed (5)

Our portfolio in detail: Large companiesListed Portfolio

Unlisted Portfolio

Notes : (1) ) As of December 31st, 2017, Source: Thomson Reuters ; (2) Last FY disclosure ; (3) Investment in shares and bonds; (4) Pro Forma of NOL acquisition; (5) The French State’s share in those

companies was transferred to Bpifrance (ex-Fonds Stratégique d’Investissement) in 2009

26/06/2018


Our portfolio in detail: Large Cap team – mid-sized companies (1/2)

Notes :

(1) Last FY disclosure

(2) Investment in shares and bonds

Name Sector Business DescriptionRevenue(1)

(€m)Invest. Date Fund

IDEMIA Electronics Leader in smart cards and security solutions 2,900 May-17 ETI 2020

Vivescia(2) Agribusiness/Food Food industry group specialized in producing and processing grain 2,300 Dec-10 BPI Part.

Altrad(2) Manufacturing Production and rental of scaffolding 2,159 Jun-11 ETI 2020

NGE Construction Construction company 1,592 Sep-11 BPI Part.

Daher Aerospace Aeronautics and nuclear equipment supplier 1,051 Apr-09 BPI Part.

Paprec Environment Recycling 950 Nov-12 BPI Part.

Mersen Manufacturing Electrical specialties and advanced materials manufacturer 764 Sep-09 BPI Part.

Tokheim Energy Fuel dispensers manufacturer 702 Jun-12 BPI Part.

Mirion Technologies(2) Energy Manufacturer of detection equipment for the nuclear industry 463 Jan-16 ETI 2020

Cegedim Software and IT CRM and specialized software for the healthcare industry 441 Dec-09 BPI Part.

Gascogne Wood / Paper Production and sale of paper and wood products 407 Jul-14 ETI 2020

Mecachrome(2) Aerospace Precision engineering company 402 Dec-09 BPI Part.

Albioma Energy Developer of biomass power plants 368 Apr-17 ETI 2020

OVH Telecom Provider of Cloud hosting infrastructure 284 Oct-16 BPI Part.

Novasep Healthcare Manufacturing and purification of active ingredients for pharmaceuticals 271 Mar-12 BPI Part.

Soitec Electronics Production of semiconductors (electronics, energy) 246 Jul-11 BPI Part.

Grimaud Agrifood Animal genetic selection 240 Jul-10 BPI Part.

Farinia Manufacturing Forge and foundry 225 Mar-09 BPI Part.

Gruau(2) Automotive Production and distribution of specific vehicles 218 Apr-10 BPI Part.

AD Industrie Aerospace Supplier for the aerospace industry 204 Dec-11 ETI 2020

INSEEC(2) Education Network of higher education schools 200 Apr-16 ETI 2020

Sermeta(2) Manufacturing Heat exchangers for gas boilers 182 Jun-14 ETI 2020

Dupont Restauration BtoC Services Collective Catering 180 Sep-17 BPI FP

Mäder(2) Manufacturing Industrial paint producer 165 May-10 BPI Part.

26/06/2018


Name Sector Business DescriptionRevenue(1)

(€m)Invest. Date Fund

De Dietrich Manufacturing Equipment and systems for chemicals and pharmaceuticals 162 Sep-11 BPI Part.

Riou Glass Manufacturing Transformation of glass products 161 Jan-12 BPI Part.

SergeFerrari Group Manufacturing Manufacturing and distrib. of innovative flexible composite materials 158 Jun-14 ETI 2020

Les Petits Chaperons Rouges(2) BtoC Services Child nurseries operator 155 Mar-16 ETI 2020

NACE Education Primary and secondary education 142 Feb-18 ETI 2020

Finaero Aerospace Painting and sealing for aerospace and rail industry 134 Mar-14 ETI 2020

La Maison Bleue BtoC Services Child nurseries operator 123 Oct-16 ETI 2020

Talend Software and IT Data Integration software developer 96 Apr-13 ETI 2020

Neoen Energy Developer and operator of renewable energy plants 84 Oct-14 ETI 2020

Paris Inn BtoC Services Hotel management 75 Aug-17 ETI 2020

Eren Energy Developer and operator of renewable energy plants 68 Oct-15 ETI 2020

Microwave Vision Manufacturing Electromagnetic wave measuring instruments 66 Jul-14 ETI 2020

NeoXam Software and IT Software company for financial services 62 May-18 ETI 2020

Inside Secure Electronics Comprehensive embedded security solutions 47 Sep-10 BPI Part.

Groupe GPS(2) Logistics Fleet management & rental of metal crates and wooden pallets 46 Jan-17 ETI 2020

Ercom Electronics Telecom solutions for network security 46 Jul-11 BPI Part.

Datawords(2) Consulting Digital Marketing 40 Jul-15 ETI 2020

Finsecur(2) Manufacturing Fire detection systems 39 Nov-14 ETI 2020

AD Education(2) Education Higher education school network 36 Feb-17 ETI 2020

Sandaya(2) Tourism 4 and 5 star camping sites operator 30 May-16 ETI 2020

NTL Transportation Manufacture of wheeled trams (NTL) 25 Sep-12 BPI Part.

Our portfolio in detail: Large Cap team – mid-sized companies (2/2)

Notes :

(1) Last FY disclosure

(2) Investment in shares and bonds

26/06/2018


Name Sector Business DescriptionInvestment

dateFund

ABEO BtoB Services Manufacturer and distributor of sports and leisure equipment Oct-16 FIC 5

ADIT BtoB Services Economic intelligence Dec-15 FIC 5

Alvène Manufacturing Ventilation of professional kitchens Jul-17 FIC 5

Amplitude Manufacturing Manufacturer of ultra fast lasers Jan-12 FIC 2

Anaveo BtoB Services CCTV and security equipment Dec-15 FIC 5

Armatis BtoB Services Call center May-12 FIC 2

Caillau Automotive Hose clip producer Jul-15 FIC 4

Cameron France BtoB Services Printing house Dec-13 FIC 2

Carré Blanc Retail Supplier specialized in home textiles Oct-13 FIC 2

Cleor Retail Retailer of affordable jewelry Jun-17 FIC PRIVATE DEBT

Coriolis Composites Manufacturing Production of composite technical parts (aero., Ind.) Jul-15 FIC 5

CPI Printing Book production (printing and shaping) Dec-13 FIC 2

Cyclopharma Healthcare Radio-tracer conception and manufacturing Jul-10 FIC 3

Defi Group Media Advertising services Jul-12 FIC 3

Domidep Healthcare Retirement homes operator Oct-12 FIC 5

Dourdin Automotive Customization of vehicles Jul-17 FIC4

Dubbing Brothers BtoB Services Dubbing of audiovisual production and films Feb-16 FIC 4

ECM Technologies Manufacturing Manufacturer of industrial furnaces Jun-14 FIC 2

Emeraude Retail Distribution of technical polymers Dec-14 FIC 5

Father & Sons Retail Retail sale of specialized apparel Jul-14 FIC 2

Financière Ingenica BtoB Services Industrial Engineering Service Mar-12 FIC3

GCC Construction Construction, climatic, electrical and hydraulic engineering Sep-17 FIC PRIVATE DEBT

GPS Logistics Fleet management & rental of metal crates and wooden pallets Jan-17 FIC PRIVATE DEBT

Gravotech BtoB Services Engraving, marking and cutting Mar-18 FIC5

Groupe CEF Construction Building company (specialized in the medico-social sector) Dec-11 FIC3

Our portfolio in detail: Mid Cap team (1/3)

26/06/2018



dateFund

Ipackchem Manufacturing Rigid plastic container manufacturer Feb-17 FIC PRIVATE DEBT

IPESUP Education Private Secondary Education Group Jun-17 FIC 5

KOSC Telecom Fixed telecommunications services Mar-16 FIC 5

La Maison Bleue BtoC Services Child nurseries operator Dec-10 FIC 3 & 4

La Vie Saine Retail Organic products retailer Jul-17 FIC 5

Laboratoires Lescuyer Healthcare Food supplements Oct-16 FIC 4

Laborizon Healthcare Medical analysis laboratories May-16 FIC 5

Looping Entertainment Operation of regional leisure parks Mar-16 FIC 5

Ludendo Retail Retail of toys / childcare Jun-10 FIC 2

Malherbe Transportation Transportation Jan-13 FIC 2

Mecamidi Manufacturing Hydroelectric turbine manufacturer Dec-08 FIC

Melkonian Manufacturing Mining equipment manufacturer Feb-14 FIC 2

Nexway Software and IT Video games and software downloading platform Jun-10 FIC 2

Novarc Manufacturing Electrical safety equipment and maintenance products Dec-15 FIC 5

Pacific Pêche Retail Distributor of fishing equipment Mar-16 FIC 5

Pénélope BtoB Services Reception services Mar-16 FIC 4

Plastifrance Manufacturing Plastic injection and manufacturing of technical molds Mar-11 FIC3

Platinium Group (PGSAM) Entertainment Ticketing of sports events Jan-17 FIC 5

Pronuptia Clothing Making and distribution of wedding dresses Mar-11 FIC 3

Réunionnaise du Rhum Retail Consumer goods Dec-12 FIC3

Rougnon (HGR) BtoB Services Company positioned on a multi-technical market Jun-15 FIC 4 & 5

SAF Transportation Helicopter services Oct-17 FIC 4 & 5

Scopelec (Oustal) Telecom Installation/maintenance of telecommunication networks Apr-10 FIC 3

Sendin Construction Building infrastructure (metal frames) Aug-11 FIC3


26/06/2018



dateFund

SIXOW (CTN Groupe) BtoB Services Distributor of floors, walls and ceilings for fairs and events Mar-17 FIC PRIVATE DEBT

Sogestran Logistics Industrial river transport Jun-17 FIC PRIVATE DEBT

Sogetrel Telecom Design, construction and maintenance of telecom networks Feb-16 FIC 5

Square BtoB Services Management Consulting Nov-17 FIC PRIVATE DEBT

Synchrone BtoB Services IT consulting Jul-15 FIC 5

Vaglio Construction Producer of aggregates Sep-14 FIC4

VGF Manufacturing Manufacture of safety valves for the oil and nuclear industries Apr-14 FIC4


26/06/2018



dateFund

Trèves Automotive Acoustic and interior solutions manufacturer for the automotive industry May-09 FAA

Sofedit / Gestamp Automotive Stampings and assemblies manufacturer Dec-11 FAA

Novares Automotive Plastic parts manufacturer for the automotive industry Oct-09 FAA

SNOP Automotive Stamping, roll forming, assembly, and tooling of automotive parts Sep-09 FAA

Pernat Industrie Automotive High precision mechanical parts manufacturer for car makers Oct-16 FAA

Forge et Développement Automotive Forge Jun-11 FAA

Maïke Automotive Automotive Complex sub-assemblies and complete ensembles manufacturer Jul-11 FAA & FAA Rg 2

Atelier des Janves Automotive Steel components and forging manufacturer for automotive and railway Oct-10 FAA

Defta Automotive Car parts manufacturer Dec-09 FAA

Citèle Automotive Machining, foundry and engineering services for auto. and energy sectors Jun-12 FAA RG 2

Devillé Automotive Stamping Oct-11 FAA RG 2

Coriolis Composites Manufacturing Robotic composite fiber placement solutions for aerospace and automotive Jul-15 FAA RG 2

Société d'Alt (SPPP) Automotive Plastic and composite part painting for automotive industry May-16 FAA RG 2

Tecma Automotive Special machines manufacturer for automotive and polymer industry Apr-12 FAA RG 2

Our portfolio in detail: Automotive Fund

Bpifrance’s support: Training, Consulting and Networking

41

Bpifrance Université offers face-to-

face training and online courses

Bpifrance coordinates a selective

network of independent

consultants

● 4,000 members

● Doubling the number of networking events organised:

62 events in 2017 vs 30 in 2016

● 37 000 participants on 12 October 2017 in Paris

● for the third edition

NETWORKING

From startups to large groups, Bpifrance connects the members of its network

In 2017:

NUMBER OF COMPANIES

COUNSELLED

7 500

5 500

2016 2017

● 86 startups and 64 clients from major groups supported

● 50 sales agreements or partnerships signed

CONSULTINGTRAINING

Bpifrance’s support: The accelerators, intensive excellence

programs

42

« Le Hub », the in-house startup Accelerator (launched in 2015)

Duration: from 12 to 18 months

● 64 companies

● 76 financial transactions

● €340m raised by the startups supported

An in-house accelerator for SMEs (launched in 2015)

Duration: 24 months

● 180 companies

An in-house Accelerator for mid-size companies (launched in 2016)

Duration: 24 months

● 48 companies

Over 200 entrepreneurs trained at the same

time in the Bpifrance Accelerators

Track record of the first group of alumni:

● 1/3 of SMEs became mid-size companies

● The average turnover increased by 29%

● Export turnover up 29%

● Average workforce increased by 20%

● One year after their graduation, 50% have

become mid-size companies

26/06/2018


Bpifrance’s support: «The HUB » offers a wide range of services and a digital platform to support deal making

RAISE AWARENESS WITHIN YOUR ORGANIZATION

ABOUT THE ISSUES OF OPEN INNOVATION WITH

AN ACCESS TO THE HUB’S EVENTS

+ OPTION TO ORGANIZE YOUR OWN THEMATIC

EVENTS WITH OUR DEDICATED TEAM

A DIGITAL PLATFORM OFFERING:

o The most comprehensive search engine for

innovative companies in France

o Contents and resources designed to facilitate the

interaction between corporate players & startups

o A platform of more than 500 entrepreneurial experts

to bring open innovation to life

ASSIST IN THE EXECUTION OF YOUR M&A

DEALS

WE CONNECT YOU TO THE BEST PLAYERS IN THE

FRENCH ECOSYSTEM OF INNOVATION

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