Innova Capital joins Jerome France, the Founder of EMI Group and Morphosis Capital, a Romanian PE Fund, in their vision to create a leading independent European installation and maintenance provider in industrial access solutions. On 30th June 2023, Innova acquired a 51 percent stake in EMI Group via a combination of partial buy-out and a €15 million capital increase. The new money will fund further add-on acquisitions aimed at solidifying the company’s position in existing markets and entering new countries
Following many previous investments, including recent PeP, Prime Label and United Clinics, EMI Group is yet another buy-and-build transaction, which targets further consolidation of a highly fragmented market. The deal is the third investment from Innova/7 fund, which in May 2023 announced an interim close exceeding €324 million.
EMI Group provides industrial access maintenance services to logistics and industrial buildings of an area exceeding 5 million sqm, performing over 2,000 turn-key installation projects for over 1,500 unique clients annually. The company is an undisputed leader in its industry in Romania and a leading independent player in Belgium, serving end customers and commercial real estate developers in a wide range of sectors, including industrial, retail, logistics, military and healthcare.
“I am incredibly proud of the development of EMI and the milestones we have achieved thus far. Today, EMI stands as a truly European player, with international shareholding uniting four nationalities, with facilities in three countries and a strong presence across Europe. The capital injection from Innova Capital marks an exciting new chapter for us, as we embark on a more ambitious growth trajectory through mergers and acquisitions. As part of this expansion, we are dedicated to involving the founders of the companies we acquire, integrating their expertise and experience into our operations. This collaborative approach will enable us to create a powerful European champion group. With our proven track record and the support of our strategic partners, we are confident in solidifying our position in existing markets and venturing into new ones. Together with Innova, Morphosis and our partners at Belemi, we will continue to shape the future of the industrial access solutions industry in Europe,” said Jerome France, Founder and CEO of EMI.
“The industrial access systems market remains very fragmented and particularly prone to consolidation in the area of installation & maintenance services. EMI has developed a successful integration model allowing small service companies to retain their identity and autonomy while benefiting from scale and group best practices. We are thrilled to be partnering with Jerome France and Morphosis Capital in this exciting consolidation opportunity,” said Andrzej Bartos, Senior Partner at Innova Capital who has led the investment.
“The EMI success is a testimony to how building mutual trust translates into stellar business performance. I am happy we partnered with Jerome and followed his vision and drive and we are looking forward to taking the company to even higher levels of performance together with Innova,” said Simona Gemeneanu, Partner at Morphosis Capital.
