A strategic and regional divestment for this renovation firm
After two decades at the helm of Gilmant Construction, Pierre Joly wanted to make a fresh start and embark on new projects. Since he regarded his company as his family, he was determined to ensure that the sale of his business would guarantee the company’s long-term viability and the preservation of jobs.
By introducing him to a wide range of candidates, Carmine Capital enabled Pierre Joly to quickly and confidently select a reliable partner by aligning his company with the BEAUDEUX Group, which specializes in finishing work and is itself based in the Hauts-de-France region.
Gilmant Construction, nearly 150 years of service in the north
Few French companies—and even fewer small and medium-sized enterprises—can claim to be thriving nearly a century and a half after their founding. Yet this is the case for Gilmant Construction, a company founded in 1880 and taken over in 2005 by Pierre Joly. Today, it is based in Hem, in the Nord department.
Specializing in painting, decorating, wall coverings, and resilient flooring, Gilmant Construction serves both public and private sectors, meeting the needs of government agencies, school districts, hospitals, and companies in the service sector.
BEAUDEUX Group, the leading interior contractor in northern France
The BEAUDEUX Group is a family-owned business specializing in finishing work and led by Louis BEAUDEUX.
Comprising 17 subsidiaries, the BEAUDEUX Group forms a “family of companies” whose main areas of expertise include waterproofing, roofing, siding, heating, plumbing, natural smoke extraction, the manufacture and installation of PVC joinery, asbestos removal, soil remediation, and general interior fit-out and design (all trades), as well as the management and execution of general renovation projects in occupied buildings.
Operating across much of northern France, including the Île-de-France region, the BEAUDEUX Group currently generates a combined annual revenue of 95 million euros and employs approximately 400 people.
Eager to pass on his company to a buyer who shares his human values—and above all, his family values—Pierre Joly engaged Carmine Capital with the goal of meeting several potential buyers and securing the best possible buyer for Gilmant Construction. That is why Carmine Capital reached out to more than sixty potential buyers, some of whom were unknown to the CEO. Thanks to a streamlined process led by Carmine Capital, Pierre Joly was able to quickly meet with various parties and approach this pivotal decision for his teams’ future with the necessary peace of mind. Initial discussions with the BEAUDEUX Group quickly revealed the strategic rationale for a merger between the two companies.
Throughout the transfer process, Carmine Capital provided Pierre Joly with support on technical, legal, and financial matters, including: valuing his company, communicating the sale to employees, and negotiating legal terms.
The support provided by the team at Carmine Capital enabled me to successfully sell Gilmant Construction, a company that has represented my entire professional life since I took it over in 2005. The technical analysis—but above all the day-to-day guidance during these difficult decisions—was a source of comfort to me and was clearly a key factor in the success of this transition.
Pierre Joly, CEO of Gilmant Construction
Seller: Gilmant Construction
Dirigeant : Pierre Joly
M&A Advisory: Carmine Capital
Anne-Laure Saint-Marc Girardin, Philippe Bloquet, Pierre-Lucas Masarin
Buyer: Groupe BEAUDEUX
Louis Beaudeux
M&A Advisory Services for Buyers: Septentrion Finance
Guillaume Tiberghien
Legal Advice for Buyers: Grant Thornton Société d’Avocats
Jean-François Blaret
Acquisition debt:
Crédit Agricole Nord de France (Gauthier Beghin, Vianney Masse)
BPI France (Julie Lamie)
