About the deal
Capitalmind Investec has advised Ciclad on the sale of Tibbloc, a leader in temporary energy rental solutions, to Gimv
Founded in 2007 in Nantes, France, Tibbloc has become the French leader in temporary energy rental solutions (heating, cooling, steam, compressed air and dehumidification). Active in France, Belgium, Austria and Germany, with 11 operating platforms, the group distinguishes itself by a comprehensive range of services, from project design and specification to logistics and commissioning. The group serves a diversified customer base, mainly consisting of district heating & cooling networks, food processing operators, industrial groups, pharmaceuticals and the service sector.
In a growing market driven by the increasing use of rental solutions, the development of urban energy networks and climate change, Tibbloc is recognized for its technical capabilities, operational excellence and the depth of its product range. Its flexible business model combines multi-specialist sales teams, capable of supporting customers in all aspects of their business by offering tailormade solutions, with highly specialized technical teams in charge of project execution throughout France and abroad.
Supported by Ciclad since 2020 and under the impetus of Eric Merilhou and Yann Dauce, respectively CEO and COO of the group, Tibbloc has become a key player in its market. With sales of over €40 million, driven by solid organic growth, the group now employs around 120 people. It has also completed two strategic acquisitions that have enabled it to broaden its offering and geographical coverage, positioning itself as a consolidation platform in a fragmented European market.
Gimv’s investment, alongside Eric Merilhou, Yann Dauce and the management team, will provide Tibbloc with the financial and professional support it needs to accelerate its development, both in France and at European level, while continuing to invest in expanding its equipment fleet. Tibbloc plans to strengthen its market position by further expanding its range of services to support its clients in their decarbonization efforts.
What we did
Capitalmind Investec advised Tibbloc shareholders throughout the transaction process: defining deal tactics and best timing to unlock strategic value, designing a compelling equity story, qualifying best potential buyers/investors able to value Tibbloc’s positioning and support its development, managing a Lenders education process with financing institutions, running a competitive bid process to meet shareholders objectives, assisting in the final negotiations of the transaction documentation.
