In a primary transaction, Ciclad is acquiring a stake in the Vittori group, which specialises in building maintenance and renovation, thereby enabling a transfer of governance. The transaction involves a handover from Philippe Vittori, Chairman since 1989, to Olivier Gazeaux, Director of a subsidiary, who becomes Chairman and shareholder. The four other directors and the Financial Director also invested. Philippe Vittori remains a shareholder and sits on the Strategic Committee to ensure a smooth handover to Olivier Gazeaux and to support the group in its external growth strategy.
Founded in 1957, the Vittori Group is a leading independent company based in the Franche-Comté region of France. It supports its customers (mainly the main local social landlords) in the maintenance and renovation of their housing stock, with a range of maintenance services as well as multiservice refurbishment/renovation projects. These activities are driven by the fundamental trend of energy transition.
By 2022, the Group’s consolidated sales will have exceeded €20m. This transaction is in line with the growth strategy of the Vittori Group, which, with the support of Ciclad, aims to increase its presence in complementary building trades and in new geographical areas, through organic growth as well as a deliberate strategy of external growth.