Poclain Group Reorganises Its Capital And Reasserts Its Independence
The capital restructuring of the Poclain Group will enable the family division – headed by Laurent Bataille, Group chairman – to boost its capital and strengthen the circle of family shareholders. The operation, led by Crédit Mutuel Equity, will also fortify Poclain’s financial resources, allowing it to implement a policy of external growth targeted on complementary technological building blocks. The regional investor Picardie Investissement, which has supported the company for over 30 years, is returning to the financing round, while the FE2T fund (Regional Transformation Fund for Entrepreneurs) managed by IRD Gestion is acquiring a stake in its first-ever investment.
The Poclain brand, created by Georges Bataille in 1930, has been a byword for hydraulic transmission since 1985. That was the year that the Bataille family bought Poclain Hydraulics, taking over the company’s development so that it now forms the Poclain Group, which it still controls. Located in Oise in northern France, this family-run, mid-market company specialises in designing, manufacturing and marketing hydraulic motors, pumps and other hydraulic components for off-road mobile machinery. With a turnover in excess of € 400 million, Poclain employs 2,500 people in 20 countries with 9 factories, 21 commercial subsidiaries and 8 research centres. The company, which holds a leading position in its market, plans to continue its expansion by capitalising on its major research work and distinct technological expertise. In fact, Poclain devotes 7% of its turnover on average to R&D so that it can devise innovative solutions for the new models developed by its manufacturer customers.
The Poclain Group is firmly committed to a growth and strategic transformation plan that aims to boost its market share and meet the challenges of tomorrow more effectively: the increasing electrification of equipment, the growing use of connectivity in hydraulic systems (IoT, data), the expansion of related services, the reduced ecological footprint, etc.
Poclain is also deeply committed to CSR, as it has been for many years. For example, employees have historically had a large equity stake in the company via an FCPE (a shareholding investment vehicle). In addition, there is a continuous training programme for employees and partners, and the corporate governance is highly developed. More specifically, Poclain has pledged to follow four of the Sustainable Development Goals defined by the United Nations, based on the company’s strategic key priorities: people, innovation, independence and international development. As part of this commitment, Poclain has begun the shift towards electromobility: its goal is to offer zero-carbon solutions later this year and retain its technological leadership in the transmission market.
Crédit Mutuel Equity and the Poclain Group already have a long history in common. Crédit Mutuel Equity first acquired a stake in Poclain in 1998 – when the Group’s turnover was only € 94 million – and backed it until 2010. Poclain expanded significantly over this period both through organic and external growth with a turnover of almost € 200 million.
"The Bataille family’s vision for the company is that it should be an industrial, technological, international and innovative business", begins Laurent Bataille, CEO of the Poclain Group. "It should be the market leader, recognised and appreciated by its customers for its ability to offer and implement tailor-made, expert, highperformance solutions. This vision is based on core human values that can only be conveyed as part of a longterm approach that is unique to a family business. In Crédit Mutuel Equity, Picardie Investissement and the FE2T, we have found partners who share this vision and who will help us put it into practise".
"We’re in total agreement with the roadmap drawn up by the Bataille family, which will be implemented by Frédéric Michelland, Group CEO, the management team and all the employees", adds Philippe Traisnel, Executive Director at Crédit Mutuel Equity. "Poclain's added value is derived from its ability to offer top-tier parts suppliers and manufacturers a comprehensive, long-lasting and flexible solution based on technology that is currently hydraulic. A thorough understanding of machine applications is a key advantage in the transition to electromobility, and represents a real opportunity for Poclain".
Stakeholders in the operation
Crédit Mutuel Equity : Philippe Traisnel, Jérôme Geney, Amaury Leleu, Matthieu Anorga, Noémie Blervaque, Louis Mehl. Picardie Investissement : Gil Forteguerre, Nicolas Blanquet, FE2T : Laurent Deswarte, Arnaud Wolak
Poclain Mergers & Acquisitions Committee: Barber Hauler (Pascal Hervé, Damien Langlois).
Crédit Mutuel Equity Mergers & Acquisitions Committee: CIC Conseil (Amélie Aurel, Antoine Chevreau, Pierre-Jean Leny)
Crédit Mutuel Equity lawyer: Agilys Conseil (Baptiste Bellone, Madalina Suru, Sophie Auvergne).
Bataille Family Group lawyer: Stéphane Sabatier
Picardie Investissement and FE2T lawyer: Lamartine Conseil (Fabien Mauvais)
Assigning lawyer: PJM & associés (Benoit Marpeau, Camille Blaise).
Strategic audit: Advancy (Frédéric Duclos, Rémi Cornubert, Florent Chapuis).
Financial audit Crédit Mutuel Equity : Deloitte (Xavier Baron, Victor Spriet)
Financial audit Picardie Investissement et FE2T : Repère Groupe (Julien Trélhu)
About the Poclain Group
Boasting a turnover of more than € 400 million, Poclain employs 2,500 people in 20 countries with 9 factories, 21 commercial subsidiaries and 8 research centres. The Group is also committed to a growth and strategic transformation plan that aims to boost its market share and meet the challenges of tomorrow: the increasing electrification of equipment, the growing use of connectivity in hydraulic systems (IoT, data), the expansion of related services, the reduced ecological footprint, etc.
About Crédit Mutuel Equity
Crédit Mutuel Equity – the private equity arm of Crédit Mutuel Alliance Fédérale – encompasses its growth capital, buyout capital and venture capital. Crédit Mutuel Equity supports business leaders at every stage of a company's development – from the seed phase to buyout – by giving them the resources and time needed to implement their transformational projects. Crédit Mutuel Equity brings together a fully-fledged network of over 350 business leaders and entrepreneurs who share similar convictions, and who can benefit from each other’s experiences, regardless of the type of project. Investing its own funds (€ 3.5 billion), Crédit Mutuel Equity finances company projects based on time horizons tailored to their growth strategies not just in France but also in Germany, Switzerland, Canada and the USA. More information: www.creditmutuel-equity.eu
About Picardie Investissement Gestion
Picardie Investissement Gestion is a management company, approved by the Autorité des Marchés Financiers (AMF), that handles over € 110 million dedicated to private equity. Our mission since 1985 has been to support local entrepreneurs with equity injections so they can realise their business plans: creation, expansion or buyout. Our team of investors manages a total of around 45 equity lines. The legal form of the venture capital companies we manage, PLCs that “endure”, together with the patience of their shareholders, means we can support companies over a long period. While the average duration is seven years, Picardie Investissement Gestion regularly supports companies for much longer to the extent that they present new growth projects.
About IRD Gestion and the FE2T
IRD Gestion is a regional management company, approved by the Autorité des Marchés Financiers (AMF), that handles over € 150 million dedicated to private equity. We have been investing in the growth of companies for over 30 years, supporting them from creation to mid-market size. Lying at the heart of the networks that constitute the Hauts de France economy, we position ourselves as an entrepreneurial hub, a key player in the region’s economic expansion. The FE2T is one of the funds for entrepreneurs managed by IRD Gestion. The investment tickets provided by the FE2T, which has been operational since December 2021, range from € 5 million to € 10 million. The FE2T offers the companies it supports the active involvement and networks of its underwriters, who are themselves regional champions in digital technology, retail or industry. The purpose of the FE2T is to help the region achieve success by providing financial and operational support to its businesses.