Givisiez, 14 December 2022 - The CSD Group (CSD), one of Switzerland’s leading independent environmental engineering consultancies, is settling its shareholder succession with the arrival of Initiative & Finance’s “Tomorrow” fund (I&F Tomorrow) as the new majority shareholder. Initiative & Finance, a French investment firm that has been working alongside the management teams of SMEs and mid-sized companies for over 38 years, has the financial resources to enable CSD to continue implementing its strategy. CSD has thus found the ideal partner for guaranteeing the stability of all its teams and strengthening the Group’s development potential in Switzerland and internationally, while maintaining its culture and values.
Founded in 1970 and owned by its management, the CSD Group mainly operates in Switzerland, as well as in some European countries. Its teams provide services in the fields of environment (biodiversity, waste, water, and energy), natural resources, and construction (transport infrastructure, buildings, and geology). CSD develops complex projects for both public authorities and private clients in the industry, services, transport, construction and real estate sectors. More than 900 employees work in 30 offices in Switzerland, Belgium, Luxembourg, Germany, Italy and Lithuania. Based on its success and excellent results in recent years, the CSD Group, which generates revenues of around CHF 110 million, is looking to the future with confidence.
CSD remains CSD…
The age structure of the existing shareholder base and the pursuit of the growth strategy aimed at accelerating the growth of market share at national and international level called for a rejuvenation and strengthening of the shareholder base. With Initiative & Finance – more specifically its “Tomorrow” fund – CSD has found the ideal partner to pursue its development: both partners have similar corporate cultures and share the same sensitivity to environmental, social and governance issues. The internal shareholding model, which is part of the CSD Group’s culture and values, has been renewed with significant participation of the Group’s management, executives and employees.
…and accelerates its growth plans in Switzerland and internationally
The Group’s activities will continue seamlessly, both at the management and the employee level. The growth project, based on continued organic growth and external growth operations in Switzerland and in the rest of Europe, are expected to generate significant recruitment needs in the months and years to come.
The mid-cap “Tomorrow" fund supports the management teams of medium-sized companies in buyouts and growth expansion contexts, placing the sustainability of their business model at the heart of the business plan by making it a value creation driver. The business plans of the companies supported, regardless of their line of business, take into account issues related to environmental transition. The stated aim of I&F Tomorrow is to show that financial performance and consideration for the environmental transition go hand-in-hand. The CSD Group is a perfect fit with this vision.
Olga Darazs, Chair of the CSD Group Board of Directors, says: « With Initiative & Finance’s “Tomorrow“, we have found the perfect partner to continue our growth path. We are paving the way for the next generation of CSD leaders. This is excellent news for our clients and employees, as it ensures continuity and strengthens the group’s development capabilities. »
Jean-Pascal Gendre, Chair of the CSD Group Management Board, adds: « CSD’s management team and workforce are delighted to have an experienced partner in Initiative & Finance’s “Tomorrow“, with whom we share the same values and strategic ambitions. »
Baudouin d’Hérouville, Partner and Head of Midcap at Initiative & Finance, says: « We are delighted to join forces with CSD’s management team and employee shareholders to support the Group’s ambitious development plan for the coming years. As a pioneer in environmental engineering, CSD will continue to provide solutions to the many environmental challenges that face us, as it has done for many years, and will pursue its strategy of consolidating the necessary expertise in Switzerland and the rest of Europe. »
Caroline Pihan, Partner Midcap at Initiative & Finance, adds: « This acquisition of a stake in the CSD Group is a perfect fit with the investment strategy of the “Tomorrow“ fund. As a player in the ecological transition, the CSD Group brings together leading expertise to address the challenges of climate change and the protection of biodiversity. »
About Initiative & Finance
Since its creation in 1984, Initiative & Finance has completed nearly 350 buyout transactions, thereby contributing to the emergence of numerous mid-sized companies. Formerly a subsidiary of the Natixis Group, it gained independence at the end of 2010 through its own MBO and currently manages close to EUR 630 million of capital on behalf of leading French and European institutional investors and family offices. The mid-market LBO fund “Tomorrow” invests in companies in a variety of sectors that contribute to implementing solutions to the challenges identified by the Sustainable Development Goals defined by the UN, with a particular focus on those related to addressing environmental challenges. Further information on www.initiative-finance.com.
MEDIA CONTACT
CSD
Olga Darazs • +41 79 372 33 02 • [email protected]
Jean-Pascal Gendre • +41 79 435 25 08 • [email protected]
INITIATIVE & FINANCE
Marc Dagousset • +33 6 63 31 79 58 • [email protected]
IRF
Martin Meier-Pfister • +41 79 200 85 00 • [email protected]
Miriam Dippe-Nistor • +41 76 706 35 40 • [email protected]