Founded in 2004 by Laurent Penard, a former founding member of Argon, and successively joined by Antoine Bernard and Guillaume Allemand in 2009 and 2010, Citwell stands out as a consultancy specializing in operations transformation, with a predominant focus on the supply chain. The firm mainly works with major industrial and retail groups (Airbus, Antargaz, Décathlon, Hermès, LVMH, Fast Retailing, Groupe Auchan, Pierre Fabre, Sanofi) as well as
(UniHA, RESAH, CHU, etc.). Citwell’s missions cover the complete overhaul of its organizational structures: from product design to delivery, also encompassing transversal and complementary issues such as transformation through information systems, new technologies, and corporate social responsibility (CSR). The Group employs over 130 people in five offices, including four in France
(Paris, Lyon, Nantes, Lille) and a newly established office in Boston.
Following a competitive process orchestrated by PAX Corporate Finance, Citwell chose to evolve its shareholder structure by welcoming Kresk Développement in a primary transaction with a minority stake. This move also enables the new key managers to access or increase their shareholding, while the three founders reinvest substantially.
This operation marks the start of a new development phase for the Citwell Group, aimed at maintaining a growth rate of over 20% per annum. This will be made possible by developing historical customer accounts while implementing an external growth strategy with the support of Kresk Développement. The aim is also to accelerate the Group’s international expansion, particularly in the United States, while broadening its offering in operations (purchasing and
technologies (digitization, AI, Big Data) and sustainable development issues (decarbonization, circular supply chain, etc.). Citwell’s international expansion will be steered by Laurent Penard, who will focus on the US market, while Guillaume Allemand will take over as Group President.
With sales set to exceed 21 million euros by 2023, and a key position in the French market, Citwell now aims to establish itself as a long-term leader.
Kresk Développement’s Private Equity team thus confirms its third direct investment of 2023, targeting high-growth, high-potential companies operating in diversified sectors.
