21 INVEST takes majority stake in KALI ENVIRONNEMENT

21 Invest has signed an agreement to acquire a majority stake in Kali Environnement, replacing Turenne Emergence, which is exiting its position after a first investment cycle initiated in 2021. Kali Environnement is a French environmental consulting and regulatory compliance platform that specializes in supporting industrial companies with their compliance obligations. Since the primary management buyout (MBO) in 2021, the company has experienced strong growth, with revenues more than doubling due to a combination of organic growth driven by increasingly stringent environmental regulations and an active external growth strategy that has enabled the completion of three targeted acquisitions. The group has gradually established itself as a national multi-expertise platform. As part of this transaction, 21 Invest is becoming the majority shareholder by investing approximately €30 million through its sixth fund, while the management team is reinvesting a significant portion of their sale proceeds alongside the new shareholder. Nord Capital Investissement is retaining a minority stake, ensuring continuity in the company's ownership. This deal is part of a build-up strategy aimed at accelerating the consolidation of the French environmental consulting market. 21 Invest plans to continue pursuing an external growth strategy in France and internationally, with the goal of strengthening its territorial network and expanding its service offering. The financing of the transaction is based on a structure combining equity and unitranche debt, accompanied by a dedicated line for future acquisitions.

It is worth noting that the fund Turenne Capital / Nord Capital Partenaires took control of Kali Environnement through an LBO in 2021.