France-headed Ciclad Private Equity has reached an agreement to sell its district energy pipe company SOLICE to ISOPLUS Group, a leading European manufacturer of district energy pipes.
Headquartered in Rosenheim near Munich, Germany, ISOPLUS Group has a workforce of 1,500 employees and is expected to generate sales of approximately EUR 400 million in 2023.
The company maintains eight production sites and numerous local affiliates and representative businesses all over Europe. The company produces some 5,000 kilometers of single and double pipes, 280,000 fittings, and 400,000 joints a year Europe-wide.
Expand presence in France
SOLICE encompasses several components, including the district heating general contracting business, WANNITUBE, the modern district energy pipe production facility, INPAL Energie, located in Creutzwald, as well as the company’s head office in Chaponnay near Lyon, France.
This business is projected to achieve sales of around EUR 60 million in 2023 and currently employs 130 people. The closing is set to conclude in the coming weeks, and the financial details of the transaction will remain confidential.
We take pride in being the new owners of this attractive business and extend a warm welcome to its outstanding employees as part of ISOPLUS. Benoit and his senior management team will also become shareholders of the ISOPLUS group. With the addition of the production facility in Creutzwald, we are in a position to enhance our service to our French customer base and complement our existing European production network, said Roland Hirner, CEO of ISOPLUS.
The distribution of the district energy pipes from the ISOPLUS Group production sites will continue to be handled by ISOPLUS France S.A.S. for now, in which the ISOPLUS Group holds a minority stake, as long as contractual obligations remain.
Benoit Lejeune will continue to lead SOLICE and assume the role of Managing Director / PDG of the new French ISOPLUS entity.
We are thrilled to become a part of the international ISOPLUS Group, where district energy is a core and long-term focus area. This partnership will enable us to enhance our product offerings and better serve our high-quality French clientele commented Benoit Lejeune.
