September 21, 2016 – Bpifrance and ALTO Invest support CVO-EUROPE and its subsidiary GxpManager as part of the development plan which should enable the group to double its turnover by 2020.
The capital reorganization and development capital operation allows Jérôme TOMASELLI and Patrick ETIEVANT to remain the majority shareholders of the group while providing it with the means to accelerate its development, particularly in the context of external growth operations.
CVO-EUROPE and its subsidiary GxpManager are supported in this project by Bpifrance and ALTO Invest.
The group aims to double its turnover by 2020, in particular thanks to an increase in its activity in the food and cosmetics sectors and the development of its GxpManager software platform.
Bpifrance’s equity investments are made by Bpifrance Investissement.
Bpifrance, a subsidiary of Caisse des Dépôts and the State, a trusted partner for entrepreneurs, supports companies, from start-up to listing on the stock exchange, in credit, in guarantees and in equity. Bpifrance also provides support services and enhanced support for innovation, external growth and export, in partnership with Business France and Coface.
Bpifrance offers companies a continuum of financing at each key stage of their development and an offer adapted to regional specificities.
With 45 regional locations (90% of decisions taken in the region), Bpifrance is an economic competitiveness tool at the service of entrepreneurs. Bpifrance acts in support of public policies conducted by the State and by the Regions to meet three objectives:
- supporting business growth;
- prepare the competitiveness of tomorrow;
- contribute to the development of an ecosystem favorable to entrepreneurship.
With Bpifrance, companies benefit from a powerful, close and efficient interlocutor, to meet all of their financing, innovation and investment needs.
More information on: www.bpifrance.fr – Follow us on Twitter: @bpifrance
About ALTO Invest
Founded in 2001, Alto Invest is a portfolio management company approved by the Autorité des Marchés Financiers (N° GP 01-039) specializing in investing in unlisted and listed innovative European SMEs. Its offer revolves around FCP, FCPI, FCPR and FIP intended for private and institutional clients. As of 06/30/2016, Alto Invest manages €380 million invested in more than 140 holdings representing a cumulative turnover of €8 billion and 45,000 employees.