Ardian supports Latour capital and Syclef's management team with a new financing package

Syclef was originally created in 2003, following the grouping of local refrigeration services providers, and has grown into a multi-regional leader, thanks to a strong and consistent historical commitment to customer service and reactivity. Through the Company’s dense network of local service providers, especially in the southeast and west of France, alongside its 540 employees, including 360 highly qualified maintenance field technicians, Syclef serves a broad and diversified base of retailers, food producers and logisticians.

The Group caters to its customers’ needs under 4,000 maintenance contracts, while also completing 1,400 new installation projects, totaling c. 120,000 on-site interventions annually. 

Grégory Pernot, Director in the Private Debt team at Ardian underlined: “Thanks to its longstanding technical knowledge and deep market presence, Syclef is perfectly equipped to accompany and help the transformation of its clients’ refrigeration systems to adapt and comply with new regulations, especially regarding the usage of more environmentally friendly refrigeration fluids, which are currently shaping the market and should continue driving system replacements for the next decade.”
Latour Capital initially acquired a controlling stake in Syclef in 2015 and has since helped accelerate the expansion of the Group, both organically and through select, strategic acquisitions of local leaders to consolidate the highly fragmented competitor landscape.

Alongside the management team, Latour accompanied Syclef in the acquisition of 10 entities since 2016, with continued development projects ongoing.

Hervé Loheac, CEO, commented: “After already four years of success with Latour Capital, we are happy to continue the growth story of Syclef with this historic partner, and to welcome Ardian Private Debt as financing provider, thanks to whom we hope to continue being a strong consolidating platform in the commercial refrigeration market.”

Philippe Leoni and Maxime Gutton, Partners at Latour Capital, commented: “Syclef’s growth story has been impressive and we are looking forward to achieving further success together, drawing from the extensive work we have undertaken with the management over the past four years, which has setup the Company well to become a clear national leader in the buoyant refrigeration market.”

Guillaume Chinardet, Head of Private Debt France and Managing Director at Ardian, concluded: “We are convinced the tailored solution we have structured for the Company and the Sponsor will be a key contributor to Syclef’s future success, while also showcasing the flexibility our current fund generation is able to provide to industry leaders with acquisitive strategies.”