Equiteq advises KresK Developpement on its investment in Citwel Consulting

January 30, 2024

Equiteq, the global boutique investment bank, is pleased to announce that it has acted as an adviser to Kresk Developpement on its investment in Citwell Consulting, a consulting firm specializing in the transformation of operations, predominantly focused on supply chain. Created in 2014, Kresk Development is the Family Office of Didier Tabary, former majority shareholder of Laboratories FILORGA.

Citwell Consulting mainly supports major corporates in the health and luxury sectors (for example, Sanofi, UniHA, Lafarge, LVMH) in a complete overhaul of their organizational structures: from product design to delivery, encompassing transformation through information systems, new technologies, and corporate social responsibility (CSR). The group relies on a workforce of more than 100 employees, spread across five offices, including four in France (Paris, Lyon, Nantes, and Lille) and a newly established one in Boston.

Following a competitive process, Citwell chose to change its shareholder structure by welcoming Kresk Developpement. This approach also allows new key managers to access or increase their stake in the capital, while the three founders reinvest substantially.

This operation marks the start of a new phase of development for the Citwell Group, aiming to maintain a growth rate above 25% annually. This will be made possible thanks to the development of historical customer accounts and sectoral diversification, while implementing an external growth strategy with the support of Kresk Développement. The objective is to accelerate the group's expansion internationally, particularly in the United States, while strengthening its operational capabilities, whether at certain stages of the value chain (for example, product design) or through new tools such as predictive technologies.

With a turnover exceeding 20 million euros in 2023 and a crucial position in the French market, Citwell will now work to consolidate a position of market leadership.

The deal marks the third investment of 2023 for the Private Equity team of Didier Tabary's Family Office which targets fast-growing companies with high potential, operating in diversified sectors.

Charles Collin, Development, and Investment Director at Kresk says “We have followed Citwell's development over the years and have been convinced by its growth momentum, confirming the relevance of the group's offering, its positioning and the quality of its teams and management. Thanks to its focus on environmental issues and its strong employer brand, we are convinced that Citwell is well equipped to continue to stand out and grow organically. We will also be contributing our know-how to support their external growth strategy. Equiteq's knowledge of Citwell's dynamics, its challenges, its environment and its international potential reinforced the relevance of our desire to participate in this adventure and has contributed significantly to our successful outcome.”

Alexandre Steiner, Managing Director at Equiteq, based in Paris, says “We’re thrilled to have been a part of the team advising Kresk on its transaction with Citwell, a company we have been following and guiding for years and which we believe has established one of highest quality platforms in the Supply Chain Consulting space. We wish both teams the best in the next phase of their growth trajectory and look forward to the continued success of the platform. This is another transaction that exemplifies Equiteq’s expertise in the consulting space.”

Read more on the deal here: https://www.faq-logistique.com/CP20240130-Citwell-Accelere-Son-Developpement.htm

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