Andera Partners-managed fund Winch Capital 3 is poised to exit Group Rougnon as the manager-shareholders of the French construction and engineering firm signed a deal to accept a minority investment from Tikehau Capital.
The manager-shareholders of Rougnon are also increasing their investment in the business, and existing investor Bpifrance Investissement is reinvesting alongside Tikehau's T2 Energy Transition Fund in the transaction.
Andera Partners and Bpifrance partnered with Rougnon in 2015. The group comprises 21 companies providing air conditioning, heating, electricity, plumbing, roofing, waterproofing, safety and fitting services to the tertiary, private housing and social housing markets.
Banque Palatine, LCL, BNP Paribas, Société Générale, Caisse d'Épargne Île-de-France and Crédit Agricole d'Île-de-France are providing senior debt financing for the transaction.