Ardian acquires a stake in Serma alongside management team

SERMA Group was founded in 1991 in Pessac, France. The Group specializes in providing services for electronic technologies for sectors operating in  high-stress environments, such as aeronautics, space, automotive, transport, energy and medical. SERMA Group offers global services centered around four major themes: technologies and process, systems security, embedded system engineering and design and development of specific components (with an internal unit of ceramic assembly). 

Over the past decade, SERMA has experienced significant growth in its consolidated turnover; the business has grown from €27m in 2004 to €81m in 2014. 

Ardian will enable the Group to strengthen its position in the industry by helping it enter into new markets and build new client relationships thanks to its “one-stop-shop” approach for services and solutions in the electronics market. Ardian will also help the Group to pursue its external growth strategy, which is aimed at developing its product range and expanding its international presence.

Arnaud Dufer, Managing Director at Ardian and Head of Expansion France, said: “SERMA has had an impressive track record of organic growth through its buy-and-build strategy, and its management team has been key to achieving this. We have known the management for some years, and share a common vision for the development of the company.”

Baudouin d’Hérouville, Managing Director, Expansion at Ardian, added: “We identified SERMA as an attractive investment opportunity several years ago; the company is positioned in a market which we are familiar with, and it has good potential for growth because of its unique industry expertise.” 

Philippe Berlié, Chief Executive Officer of SERMA Group, confirmed: “Ardian’s expertise and network will be an important support for our development, notably through  facilitating external acquisitions that are part of our strategy. We want to strengthen our position as electronic specialists, and develop our consulting activity on embedded electronic systems. We are already looking at build-up opportunities in this highly fragmented market.”

Anne-Claire Boutant, Director, Chequers, added: “SERMA Group has achieved its development through its activities in electronics and through its entrepreneurial approach. SERMA has now completed its product offering and has built its client portfolio. By focusing on growth and strengthening its partnership with big clients, it has increased its presence in Germany as well as its competitiveness. We are delighted to have played an active role in the Group’s development so far; SERMA has significant further growth potential and Ardian is the right partner to help it reinforce its leading position in the electronics industry.”

With this investment, Ardian Expansion Fund III will have deployed over 60% of its commitments in 9 companies headquartered in France, Germany and Italy.