Ardian arranges a senior financing for IK investment partners as it buys into Netco

Founded in France in 1902, NetCo is the European specialist in the general maintenance and servicing of conveyor systems across a range of production sectors - particularly minerals, agro-food and environmental. 

Thanks to a robust full maintenance model, the Company has become a strategic partner for its clients when it comes to conveyor system maintenance. Based in Bordeaux, NetCo has a network of 55 branches and over 500 employees, mainly in France, Belgium and Luxembourg.

The Group is headed up by Samuel and James Perriez, and has been supported by Andera Partners (via WINCH Capital 3) since 2016. NetCo has increasingly outsourced its European maintenance business and has begun to expand internationally. Since 2000, the Company has made over thirty acquisitions – half of these in the last three years - which has doubled the size of NetCo in just two years.

Guillaume Chinardet, Head of Ardian Private Debt France, said: “We were impressed by the expansion of NetCo Group, which significantly increased its share of the market by opening and acquiring branches while simultaneously offering standardized, highly technical services. We are delighted to be part of the next stage in the company's development through this senior financing.”
Jean-David Ponsin, Director at Ardian Private Debt, added: ”We are happy to be able to support NetCo's growth in a consolidating market and we are convinced that our financing solution will give the Company the capacity and flexibility it needs for its future development.”

Pierre Gallix and Arnaud Bosc, partners at IK, added: “Ardian's ability to offer a solution to the Group's requirements was key to this partnership. Ardian has been extremely responsive and creative and has set up financing that is perfectly suited to the way NetCo intends to move forward.”

Samuel Perriez and James Perriez, as NetCo's President and CEO commented: ”NetCo has an ambitious development strategy that demands a solid yet flexible financing solution. We are certain that Ardian will prove to be a valuable long-term partner, with the ability to support the Group as it expands.”

François-Xavier Mauron and Antoine Le Bourgeois, partners at Andera Partners, concluded: ”We are delighted to be able to continue to support NetCo's growth alongside IK Investment Partners, Samuel and James Perriez and Ardian, paving the way for new international ambitions.”