15 April 2019

Airis France is acquired by Vincent Roverato with the support of Garibaldi Participations.

Cession

sector Consumer Products & Retail

Vincent Roverato, backed by Garibaldi Participations, takes over AIRIS France, a company specialised in LED lighting.

Customer Airis France

AIRIS France is a company specialising in the design, manufacture and marketing of a wide range of proprietary brand light fixtures for tertiary surfaces, high spaces (warehouses, industry, etc.) and outdoor lighting (car parks, sports grounds, etc.). It is renowned for its technical expertise and ability to design specific solutions for the most demanding applications (detection, discomfort (unified) glare rate (UGR) and colour rendering index (IRC)). Founded in 1992 and initially positioned in the supply of IT products, AIRIS France then turned to LED lighting technologies thanks to the support of its shareholders, the Spanish group INFINITY SYSTEM, manager Jean Charles Benyamin and his brother Francis Benyamin. The company's headquarters are located in Villeneuve Loubet (06), with a storage warehouse in Venelles (13). Through its sales force and partners it has a reputation that extends throughout France and Belgium. Historical shareholders: Jean Charles BENYAMIN, Francis BENYAMIN, INFINITY SYSTEM (Jose Vincent MOLERA PICAZO)

Counterparties Vincent Roverato

"I was impressed by AIRIS France's technical skills and commercial references. The skills of the teams, the quality and reliability of the products and the care given to customer service are the keys to the company's success. I am delighted to be able to manage the company's new development phase, which will be driven by the same fundamentals, as close as possible to our customers and creating innovations, supported by Garibaldi Participations, which shares our entrepreneurial values."

Counterparties Garibaldi Participations

Garibaldi Participations provides SMEs with the equity capital necessary for their development or the organisation of their shareholding. It positions itself as a minority shareholder with up to 40% of the capital and can also set up rounds of financing aimed at providing global solutions, in particular of a majority nature.

In April 2019, a new chapter opened with Vincent Roverato taking over of the company from manager Jean Charles Benyamin and the historical shareholders.

Through the intermediary of PAX Corporate Finance, this operation ensures the sustainability of what is a family-based business.

Vincent Roverato quickly established himself as a candidate for the takeover, thanks to his rich, significant experience in the field of electrical engineering and solid professional background, compatible with the challenges facing AIRIS France. Vincent Roverato’s aim is to maintain the fundamentals of AIRIS France’s model based on technical know-how and responsiveness, while growing the business, notably by strengthening the sales network. The new manager shall remain attentive to external growth opportunities.

The new manager shall remain attentive to external growth opportunities.

For this takeover, Mr Roverato was backed by Garibaldi Participations, a private equity subsidiary of Banque Populaire Auvergne Rhône-Alpes, a minority shareholder and family funds.

Laurent Gelpli, Managing Director of Garibaldi Participations, announced: "We are confident in the strong potential of AIRIS France, which is active in a dynamic lighting market, driven by regulatory and technological aspects. The arrival of Vincent Roverato in the takeover of AIRIS France will make it possible to continue along the development path initiated by Jean Charles Benyamin."