Face, backed by Hivest Capital, will acquire EPC Solaire, a leading player in the French photovoltaic market

Paris, Périgny-sur-Yerres and Saint-Genis-les Ollières, March 15th, 2022

EPC Solaire, a designer, manufacturer and installer of photovoltaic panel mounting solutions  for flat roofs and parking shelters, is to join Face, one of the French leaders of the building envelope market (insulation, waterproofing, cladding). This is Face’s first external growth  operation since its acquisition by Hivest Capital Partners in July 2021. This strategic acquisition  allows Face to become a leading player of the photovoltaic market for non-residential buildings  and to address new challenges arising from the environmental transition.

Founded in 2010 by its two current directors, EPC Solaire has developed innovative mounting systems for photovoltaic panels (iNovaPV and iNovaPark) which are protected by patents. The  Lyon-based company has also developed a turnkey-project activity including consulting,  engineering, procurement and construction services for photovoltaic power plants which are  installed on flat roofs or over parking spots.

As Face and EPC Solaire address the same type of buildings and as Face is already a client  of EPC Solaire, the business combination will generate significant commercial synergies. It will  allow them to offer an extensive range of photovoltaic services to their customers and to  develop new markets by combining the know-how of both entities.

Olivier Klein, Face’s CEO“We are delighted to welcome EPC Solaire within the Group. Its  expertise in a fast-growing sector and the quality of its teams will be differentiating factors for  meeting our customers’ expectations.” 

Jean-Paul Bousquet, EPC Solaire’s Managing Director: “We were convinced by the  significant growth potential created by the combination of our two groups which share the same  culture and values.” 

Barthélemy Grave, Hivest Capital’s Director: “This strategic acquisition marks a major  achievement for Face’s development. It illustrates Hivest Capital’s expertise in building national  champions.

The operation enables Garibaldi Participations (a minority shareholder since 2019) and Gerard  Chaleyssin (co-founder of the company) to exit from the capital. Jean-Paul Bousquet, who also  co-founded the company, will continue to manage EPC Solaire and will take over the  supervision of the development of the photovoltaic activity within Face.


Founded in 1979 by Yves Torres, Face is a French company specializing in the design and  installation of insulating, waterproofing, roofing and cladding solutions on non-residential  buildings. The company has diversified through the development of ancillary activities such as  aluminium facades, steel structures or maintenance and services. It benefits from a strong  brand image and national geographic coverage through its 24 subsidiaries with a high level of  autonomy.


Founded in 2010 by Jean-Paul Bousquet and Gérard Chaleyssin, EPC Solaire is a designer  and manufacturer of innovative proprietary photovoltaic panel mounting solutions for  waterproofed flat roof and parking shelters. The company is well recognized by most of the  photovoltaic power plant developers in France, but also more widely in its ecosystem of  building owners and waterproofing contractors.


Hivest Capital is an independent French private equity firm approved by the Authorité des  Marchés Financiers. Hivest Capital invests in French SMEs or mid-cap companies with a  turnover between 20 and 500 million euros, in the context of buyout or capital expansion  projects. Hivest Capital’s objective is to help companies reach their full potential by  implementing ambitious growth strategies and improving operational performance.



Company – Face: Olivier Klein, Patrice Foucault, Jean-Claude Joly, Frédéric Torres 

Investor – Hivest Capital Partners: Axel Bonnassies, Cédric Lépée, Barthélemy Grave, Lucille  Chalaoux 

Legal counsel – CPC & Associés: Jean-Yves Connesson, Paul Nafilyan, Paul Marsal

Intellectual Property counsel – Plasseraud IP: Christophe Jolly, Charlotte Montaud

Tax Due Diligence – CJA: Jean Goncalves  

Financial Due Diligence – Advolis Orfis: Damien Bourg, Xavier Nicolas, Gabriel Biabaud 


Target – EPC Solaire: Jean-Paul Bousquet, Gérard Chaleyssin 

Investor – Garibaldi Participations: Yvan Noble 

M&A Advisor – DDA & Company: Alexandre Odin, Anthony Wimbush, Charles-Antoine Cayez

Legal counsel – Horace-Avocats: Loic Richard du Montellier


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